RICHMOND, Calif., Nov. 3, 2014 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (OTCQB:EKSO), a robotic exoskeleton company, announced today they have formalized a licensing agreement providing intellectual property to Ottobock, the global leader in prosthetics and an innovator in the field of neuro-rehabilitation. Working together, Ekso Bionics and Ottobock will be able to accelerate the pace of innovation in the field of prosthetics to provide the next generation of assistive mobility options. Ekso Bionics will receive a combination of license and royalty payments in return for licensing two of its patents to Ottobock.
As the world's largest manufacturer of prosthetic components, the Ottobock brand stands for high-quality and technologically outstanding products and services. The mission to restore and maintain human mobility stands behind each and every Ottobock product. The strong conviction that quality of life is closely associated with individual freedom, and independence, has been a major influence throughout the company's 95-year history and is shared by Ekso Bionics. This shared vision gives meaningful alignment to this partnership to better augment human capabilities.
"It's an honor to partner with a world leader like Ottobock. Fundamentally, technology should improve the human experience. At Ekso Bionics, we have created technology and commercialized products that enable individuals with gait impairments to walk again. Partnering with Ottobock opens new doors for our technology to enhance an even broader range of individual's quality of life," said Ekso Bionics co-founder Russ Angold. "My dad is an amputee, and I look forward to seeing him use an Ottobock prosthetic utilizing Ekso Bionics technology."
"We've been intrigued by Ekso Bionics' technology for many years, and are excited to start a formal relationship with their ground-breaking company," said Hans Dietl, Ottobock's Chief Technology Officer. "We look forward to leveraging our respective technologies together with an eye on improving our users' quality of life for years to come."
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, EksoTM, is a wearable bionic suit that enables individuals with any amount of lower extremity weakness to stand up and walk over ground. Ekso is forging a new frontier in rehabilitation for people living with the consequences of stroke, spinal cord injury and other neurological conditions affecting gait.
For people with limited mobility, Ottobock develops medical technology products and fitting concepts in the fields of Prosthetics, Orthotics, Mobility Solutions (wheelchairs, rehabilitation aids), Neuro-rehabilitation and MedicalCare. Subsidiaries in 50 countries offer quality "Made in Germany" worldwide and employ more than 6,000 people. A family-managed company since its founding in 1919, Ottobock has also been supporting the Paralympic Games with its technical expertise since 1988.
For further information:
Director Corporate Communication
Otto Bock HealthCare GmbH, Max-Näder-Str. 15, 37115 Duderstadt, Germany
Phone: +49 (0) 5527 848-3036, Fax: +49 (0) 5527 848-3360
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
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 strategic and other 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 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, volatility in the price of the Company's raw materials, 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 at http://www.sec.gov. The Company does not undertake to update these forward-looking statements.
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