Ekso Bionics(TM) Announces Launch of Ekso(TM) Labs
March 28 2014 - 7:00AM
Ekso Bionics Holdings, Inc. (OTCQB:EKSO), a robotic exoskeleton
company, announced today that co-founder Russ Angold was named
president of the company's division focused on technology
development and future applications, formally named Ekso Labs. Russ
will oversee and build out the division that is responsible for
developing intellectual property through engineering contracts and
research grants from government organizations and industrial
partners, including the Department of Defense (DOD). Ekso Bionics
has a long history of engineering services work creating an
important intellectual property portfolio dating back to the
company's inception in 2005.
Most recently Ekso Labs was awarded an Other Transaction for
Prototypes Agreement from U.S. Special Operations Command (SOCOM)
to develop technologies for their Tactical Assault Light Operator
Suit (TALOS) project. TALOS is a futuristic assault suit that
promises to provide superhuman strength with superior mobility and
protection, and is often referred to as the "Iron Man" suit. The
exoskeleton chassis, which Ekso Labs is developing, will be
designed to allow soldiers to carry out their mission with agility,
while carrying hundreds of pounds of load. The TALOS project is
integrating other functional elements, including armor and systems,
to provide situational awareness and technology for vital signs
monitoring. Ekso Labs is part of a group assembling three TALOS
prototypes that will be delivered in the summer of 2014. The team
includes Under Armor and Legacy Effects.
"The timing is right for TALOS from a technology perspective.
With recent advances in engineering it is now possible to build
this kind of suit, but that doesn't make it easy," said Ekso Labs
President, Russ Angold. "No single industry can build it. SOCOM is
assembling a team of exceptional players to ensure this project's
ultimate success, and we are proud to be the first contractor and
to be at the center of this system."
A 2007 grant from the National Institute of Standards and
Technology led to the development of Ekso™, a robotic exoskeleton
that enables wheelchair users to stand and walk again. Iterations
of this technology resulted in today's Ekso GT™ with Variable
Assist. This medical device is designed for use in the clinical
setting and is optimized to treat a range of patients with stroke,
spinal cord injury, and traumatic brain injuries. Other grants from
the DOD led Ekso Bionics (previously Berkeley Bionics™) to unveil a
load carriage exoskeleton, the Human Universal Load Carrier (HULC),
in 2008. In 2009 the HULC technology was licensed to Lockheed
Martin for further military development. Ekso Labs will continue
development work on the HULC platform for Lockheed Martin.
"Our engineering services projects have been producing important
intellectual property since our company began. This IP will be used
to deploy wearable robotics in military, industrial, and consumer
markets in the future," said Ekso Bionics' chief executive officer
Nathan Harding. "Making Ekso Labs autonomous will ensure that this
engine of intellectual property continues to run as our medical
products business grows. In the months to come, Russ will be making
key hires to expand this exciting team, and we welcome inquiries
from outstanding individuals who would like to help us augment
strength and endurance for the human endeavor."
About Ekso Bionics
Since 2005, Ekso Bionics 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.
Ekso Bionics is headquartered in Richmond, CA and is listed on
the OTC QB under the symbol EKSO. To learn more about Ekso Bionics
please visit us at www.eksobionics.com.
Facebook: www.facebook.com/eksobionics
Twitter: @eksobionics
YouTube: http://www.youtube.com/user/EksoBionics/
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) a projection of income (including income/loss),
earnings (including earnings/loss) per share, capital expenditures,
dividends, 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, the significant length of time and resources
associated with the development of our products and related
insufficient cash flows and resulting illiquidity, the Company's
inability to expand the Company's business, significant government
regulation of medical devices and the healthcare industry, lack of
product diversification, volatility in the price of the Company's
raw materials, existing or increased competition, results of
arbitration and litigation, stock volatility and illiquidity, 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, including, the
Company's Current Report on Form 8-K filed on January 23, 2014.
The Company does not undertake to update these
forward-looking statements.
CONTACT: Media Contact:
Heidi Darling, Marketing Manager
Phone: 415.302.4777
hdarling@eksobionics.com
Investor Contact:
Lauren Glaser, Vice President
Phone: 646.378.2972
lglaser@troutgroup.com
Ekso Bionics (NASDAQ:EKSO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ekso Bionics (NASDAQ:EKSO)
Historical Stock Chart
From Apr 2023 to Apr 2024