Richmond, Calif-based Ekso Bionics appears poised to take a long stride forward in the development of its robotic exoskeletons with an infusion of funding reported at $22.8 million.
A Notice of Exempt Offering of Securities Form D filed with the United States Securities and Exchange Commission confirms the amount raised by the company, which reportedly is intended to bolster marketing efforts and support sales efforts behind Ekso Bionics exoskeleton product. The exoskeleton is designed to aid individuals affected by a movement impairment, and has been the subject of study in trials throughout the nation at Good Shepherd Rehabilitation Hospital, Craig Hospital, Kessler Foundation, Spaulding Rehabilitation Center, and several other leading rehabilitation facilities.
The wearable bionic suit has received FDA approval and is designed for therapeutic use with individuals affected by paralysis (or those who are semi-paralyzed) to ambulate with a normalized gait. Ekso Bionics is a publicly traded company that rolled out it’s early models in 2005 with the intention to augment human strength, endurance, and mobility.
According to Nathan Harding, CEO of Ekso Bionics, in addition to supporting sales and marketing activities, the $22.8 million in capital will also be directed at the development of “able-bodied application.”
[Source: MedCity News]