A patient uses the ReWalk Robotics exoskeleton system. Photo: ReWalk Robotics.

JNS.org – ReWalk Robotics, the Israeli company that developed an exoskeleton system enabling paralyzed people to walk again, has announced that it is going public with the hope of making its system more widely available.

The company announced Wednesday that it will go public on New York’s NASDAQ stock exchange and hopes to raise $50 million by offering 3.4 million shares in a price range of $14-$16. The initial public offering (IPO) is set to take place in the second week of September under the symbol RWLK.

The announcement follows last month’s Food and Drug Administration (FDA) approval of ReWalk’s exoskeleton system. The system was developed Dr. Amit Goffer, who became a quadriplegic after an accident in 1997, and allows paralyzed people to independently walk on their own by using computers and motion sensors built into the robotic frame. The system has also proven to have both physical and mental benefits for its users. ReWalk currently offers two systems, one designed for patients in rehabilitation and another for personal use at home.