Rewalk Robotics Ltd. took strides to expand its portfolio—and achieve profitability—with an agreement to acquire Alterg Inc., a provider of anti-gravity systems for use in physical and neurological rehabilitation. Alterg uses NASA-derived differential air pressure (DAP) technology to reduce gravity’s effects on individuals with mobility challenges and pain. The $19 million deal is expected to close August 11, with additional cash earnouts tied to future revenue growth over the next two years.
Reach Neuro Inc. has been granted FDA breakthrough device designation for a rehab platform that delivers small electrical impulses to the spinal cord to help restore shoulder, arm and hand movement to individuals suffering from chronic stroke. The company said Avantis restores a patient's ability to control movement, not only giving the patient immediate relief, but making it possible to return to therapy and continue making even further improvements.
Siyi Intelligence Technology Co. Ltd. raised nearly $15 million in a series A funding round to speed up the development of its smart rehabilitation products and of its neurorehabilitation solutions and build a digital rehabilitation service platform.
Microtransponder Inc. raked in $53 million in an oversubscribed series E round that exceeded its best previous fundraising by nearly 500% and brought the company’s total funds raised to date to $93 million. The new money will be used to commercialize the Vivistim paired VNS system, which received premarket approval in 2021 as what the FDA called the “first stroke rehabilitation option using vagus nerve stimulation.”
The rehabilitation robot market will soon have a new entrant as Able Human Motion SL prepares to launch a next-generation robotic exoskeleton. The Universitat Politècnica de Catalunya spin-off is on a mission to shake up the exoskeleton technology market with a low-cost, lightweight model that can be accessed by anyone with mobility impairments.
Exoskeleton company Wandercraft SAS has landed $45 million in a series C round led by U.S. fund Quadrant Management. The company’s first commercial exoskeleton, Atalante, received CE marking in 2019 and has sold for around $176,000 a piece to European rehabilitation hospitals offering gait re-learning treatment.
Shares in Rewalk Robotics Ltd. are on the rise after the FDA awarded its Reboot exoskeleton device breakthrough device designation status. The wearable, battery-powered device is designed to assist individuals with lower limb disability due to stroke.
B-Temia Inc.’s Keeogo mobility device is on the move in the U.S. now that it has received 510(k) clearance from the U.S. FDA. Unlike currently available exoskeletons that move for patients, the Keeogo (keep on going) Dermoskeleton system amplifies signals from patients who can initiate movement but need additional assistance.