Ekso(TM) Labs Secures Third Contract With the U.S. Special Operations Command (SOCOM) for Upper Extremity TALOS Project
US Patent Office Grants Company Three New Patents
RICHMOND, Calif., May 20, 2015 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (OTCQB:EKSO), a robotic exoskeleton company, announced today that their Ekso™ Labs division secured a third contract with the United States Special Operations Command (SOCOM) to work on the next phase of the Tactical Assault Light Operator Suit (TALOS) project. Following the successful completion of a previous SOCOM project, the latest will focus on the development of an upper extremity part for TALOS Mk III. Additionally the US Patent Office has now granted Ekso Bionics three new patents resulting from their work on DARPA and other government agency projects.
SOCOM announced last year that it was working to create a wearable uniform, which provides superhuman capabilities with superior mobility and protection, for their Special Operations Forces. U.S. Special Operations Command is moving forward in the development of its exoskeleton that would give Special Forces troops head‐to‐toe ballistic protection while allowing for fluid movements.
"We are extremely proud of our ongoing relationship with SOCOM and the opportunity to further contribute to the TALOS project," says President of Ekso Labs and Co‐founder of Ekso Bionics, Russ Angold. "Our commitment to pushing technology to the next level, combined with our expertise in exoskeletons for various uses, gives us the advantage to continue developing and delivering cutting edge projects, and broadening our IP and overall experience and offering. This work will serve as the launching pad for Ekso's future commercial development of upper extremity exoskeletons."
Ekso Bionics designs, develops, and commercializes exoskeletons, or wearable robots, which have a variety of applications in the medical, military, industrial, and consumer markets. Exoskeletons are ready‐to‐wear, battery‐powered robots that are strapped over the user's clothing, enabling individuals to achieve mobility, strength, and endurance not otherwise possible.
Ekso Bionics' lead product, Ekso GTTM, is a wearable bionics suit that enables individuals with any amount of lower extremity weakness to stand up and walk over ground. Ekso Bionics is forging a new frontier in rehabilitation for people living with the consequences of stroke, spinal cord injury, and other neurological conditions affecting gait.
About Ekso Bionics (OTCQB:EKSO)
Since 2005, Ekso Bionics (http://www.eksobionics.com) has been pioneering the field of robotic exoskeletons, or wearable robots, to augment human strength, endurance and mobility. The company's first commercially available product called Ekso has helped thousands of people living with paralysis take millions of steps not otherwise possible.
By designing and creating some of the most forward‐thinking and innovative solutions for people looking to augment human capabilities, Ekso Bionics is helping people rethink current physical limitations and achieve the remarkable.
Any statements contained in this press release that do not describe historical facts may constitute forward‐looking statements. Forward‐looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of human exoskeletons, (ii) a projection of financial results, financial condition, capital expenditures, capital structure or other financial items, (iii) the Company's future financial performance and (iv) the assumptions underlying or relating to any statement described in points (i), (ii) or (iii) above. Such forward‐looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward‐looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward‐looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain adequate financing to fund the Company's operations and necessary to develop or enhance our technology, the significant length of time and resources associated with the development of the Company's products, the Company's failure to achieve broad market acceptance of the Company's products, the failure of our sales and marketing organization or partners to market our products effectively, adverse results in future clinical studies of the Company's medical device products, the failure to obtain or maintain patent protection for the Company's technology, failure to obtain or maintain regulatory approval to market the Company's medical devices, lack of product diversification, existing or increased competition, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC. To learn more about Ekso Bionics please visit us at www.eksobionics.com. The Company does not undertake to update these forward‐looking statements.
CONTACT: Media Contact: Heidi Darling Director of Marketing Communications Phone: 415.302.4777 firstname.lastname@example.org Investor Contact: John Graziano The Trout Group Phone: 646.378.2942 email@example.comSource: Ekso Bionics
Released May 20, 2015