National Institute for Health and Care Excellence Releases Medtech Innovation Briefing on the Ekso GT Robotic Exoskeleton
RICHMOND, Calif., Jan. 24, 2017 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (NASDAQ:EKSO), a robotic exoskeleton company, announced today the release by the National Institute for Health and Care Excellence (NICE) of a Medtech Innovation Briefing (MIB) on the Ekso GT robotic exoskeleton. The MIB highlights the innovative aspect of Ekso Bionics’ proprietary SmartAssist software, which differentiates the Ekso GT from other available wearable exoskeletons. The MIB notes that SmartAssist technology allows physiotherapists to strategically target aspects of a patient's gait by providing different amounts of support to each leg, effectively personalizing the treatment for each patient’s specific needs. Ekso Bionics is the first exoskeleton company to be selected for a MIB by NICE.
NICE is a non-departmental public body of the Department of Health in the UK that assess the clinical and cost effectiveness of health technologies to ensure that all British National Health System (NHS) patients have equitable access to the most clinically - and cost-effective - treatments. MIBs, which are written after an evaluation process, complement existing NICE guidance by providing objective information on new and novel medical technologies as an aid to local decision-making by clinicians. The information provided in the MIB includes a description of the technology, how it is used and its potential role in the treatment pathway.
“The NHS in the United Kingdom is highly respected and is looked upon as a reference by many neighboring countries. We are honored that NICE chose the Ekso GT as the first exoskeleton to be the subject of a Medtech Innovation Briefing,” stated Thomas Looby, chief executive officer of Ekso Bionics. “We are thrilled with the findings and the support of the MIB and are optimistic about the impact it can have on the momentum for Ekso Bionics in Europe.”
The MIB authors conducted a systematic review of existing evidence on multiple patient groups and noted that, while the evidence base was still limited, results indicated enhancement in walking speed and distance for patients who use the Ekso GT as a rehabilitation tool. British specialist commentators who have used the device noted in the MIB that Ekso GT helps patients with incomplete spinal cord injuries improve mobility more quickly by providing a means for repetitive controlled practice and also noted that the capability for Ekso’s SmartAssist software to apply different power to each leg might be particularly useful for stroke patients. The MIB also points out that there were psychological benefits associated with users being able to stand and walk, which in turn could have a positive effect on their overall health.
The MIB report can be found at: https://www.nice.org.uk/advice/mib93.
About Ekso Bionics®
Ekso Bionics is a leading developer of exoskeleton solutions that amplify human potential by supporting or enhancing strength, endurance and mobility across medical, industrial and defense applications. Founded in 2005, the company continues to build upon its unparalleled expertise to design some of the most cutting-edge, innovative wearable robots available on the market. Ekso Bionics is the only exoskeleton company to offer technologies that range from helping those with paralysis to stand up and walk, to enhancing human capabilities on job sites across the globe, to providing research for the advancement of R&D projects intended to benefit U.S. defense capabilities. The company is headquartered in the Bay Area and is listed on the Nasdaq Capital Market under the symbol EKSO. For more information, visit: www.eksobionics.com.
About Ekso™ GT
Ekso™ GT is the first exoskeleton cleared by the FDA for use with stroke and spinal cord injuries from L5 to C7. The Ekso GT with smart Variable Assist™ (marketed as SmartAssist outside the U.S.) software is the only exoskeleton available for rehabilitation institutions that can provide adaptive amounts of power to either side of the patient’s body, challenging the patient as they progress through their continuum of care. The suit’s patented technology provides the ability to mobilize patients earlier, more frequently and with a greater number of high intensity steps. To date, this device has helped patients take more than 55 million steps in over 120 rehabilitation institutions around the world.
Forward-Looking Statements
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) estimates or 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, changes resulting from the Company’s finalization of its financial statements for and as of the period and year ended December 31, 2016, information or new changes in facts or circumstances that may occur prior to the filing of the Company’s Annual Report on Form 10-K that are required to be included therein, 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.
Media Contact: Carrie Yamond/Rajni Dhanjani 212-867-1788 cyamond@lazarpartners.com Investor Contact: Debbie Kaster 415-937-5403 investors@eksobionics.com
Released January 24, 2017