Human Exoskeletons Are Helping Get Stroke and Spinal Cord Victims Walking Again

The days of people confined to a wheelchair because of a stroke or a spinal cord injury may be coming to an end in the not too distant future. Ekso Bionics (EKSO) - Get Report , which was started by a group of UC Berkley students 11 years ago, is making rapid advancements toward commercializing their 'Ekso.' The company's CEO Tom Looby says, 'In the medical device space it's a lot of hard work, but it's about helping patients who can't walk on their own. Some of them have been sitting in wheelchairs in 40 years.' Earlier this year, Ekso was cleared by the FDA as a treatment tool for both stroke and spinal cord injuries at rehabilitation facilities. Looby says each year roughly 2.4 million people suffer from strokes. 'Today, our single minded focus is to market our product into the rehab market. That is our beachhead as a business. That's where the patients go. That's where a lot of the dollars are being spent. And we want to build our brand in that environment,' says Looby. In the past, Ekso worked with companies like Lockheed Martin (LMT) - Get Report and the U.S. government to create technology that it hopes to use in its latest Ekso. Since January, shares of Ekso are down roughly 40 percent. Looby says, 'Now that we have FDA clearance, it's our opportunity to go out there and broaden our message.' TheStreet's Ruben Ramirez has details from the Nasdaq Marketsite.