ReWalk Plans $40M Private Placement To Fund Marketing, R&D Of Exoskeletons
ReWalk plans to use the proceeds to fund sales, R&D and reimbursement expenses related to its ReStore and Personal 6.0 devices as it continues to face negative effects of pandemic.
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Israel-based exoskeleton company ReWalk Robotics Ltd. announced it received a CE mark for its next-gen ReStore Exo-Suit for stroke rehabilitation, paving the way into a larger patient population.
When it comes to helping patients recover from spinal cord injuries and stroke, the use of exoskeletons – a robotic suit that supports a person's weight and helps them move their limbs – is gaining traction by physical therapists in rehabilitation centers and clinical settings. Several exoskeleton companies such as ReWalk, Ekso Bionics and Parker Hannifin are already marketing their own versions of these smart, robotic-assisted body suits in various countries worldwide. Despite facing significant barriers, such as high device cost and lack of reimbursement, recent advances in robotics, microelectronics, battery technologies and product designs are the driving forces behind the continuous innovation in this field. Companies hope the dramatic life-changing impact exoskeletons have today in helping the paralyzed will also have implications for other mobility-challenged individuals, including those living with Parkinson's disease, multiple sclerosis, cerebral palsy and the elderly.
Truvian Sciences will use the proceeds to fund regulatory submission for its POC testing system in Europe and the US with hopes to bring to retailers, pharmacies, health systems in 2022.