RICHMOND, Calif., Feb. 18, 2016 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (OTCQB:EKSO), a leading global robotic exoskeleton company, announced that it was awarded a contract to develop a new exoskeleton design for the Defense Advanced Research Projects Agency’s (DARPA) Warrior Web program. The new initiative is focused on the creation of a groundbreaking flexible exoskeleton designed to reduce the wearer’s energy output while also assisting with load carriage. This is the fourth time DARPA has tapped the company’s Ekso Labs™ division for its unparalleled exoskeleton knowledge to develop a more advanced generation of exoskeletons.
“It is an honor to once again be selected by DARPA to deliver on another valuable project that will benefit our soldiers. This is a follow-on project from our first Warrior Web project, which we were subcontracted on by Google’s Boston Dynamics, and will develop a related, but very different technology. We share DARPA’s commitment to advancing functionality for cutting edge exoskeleton technology and look forward to leveraging our world class IP portfolio to help design a customized suit that will improve soldier performance by alleviating musculoskeletal load,” said Russ Angold, Co-Founder of Ekso Bionics and President of Ekso Labs™, the engineering division of Ekso Bionics.
With over 190 international patent cases (granted or pending), Ekso Bionics is a leader in Intellectual Property for robotic exoskeleton design, and has extensive experience providing technology to partnering organizations such as U.S. Special Operations Command, Boston Dynamics (now of Google), and the National Institutes of Health. This phase of Ekso’s Warrior Web project will be designed to DARPA’s program guidelines over the course of 18 months. Ekso Bionics will engage Under Armour as a subcontractor in the third phase of the program to test the system’s durability and ability to be manufactured at scale, and support beta testing of the suit at the Army Research Laboratory Human Research and Engineering Directorate at the Aberdeen Proving Ground, Md.
“Under Armour is excited to bring our innovative approach to problem solving and product development to this next generation of exoskeletons. The partnership that we have established with Ekso Bionics to provide our soldiers and civilians with cutting edge technology continues to be rewarding, and we look forward to helping advance this initiative,” added Sam McCleery, VP of Global Innovation for Under Armour (NYSE:UA).
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. 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 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.
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