Medical Robotics Company Wandercraft Receives €25 Million from EIB
The EIB’s new €25 million loan benefits from a guarantee under the European Commission’s InvestEU programme.
French medtech company Wandercraft is receiving €25 million from the European Investment Bank (EIB) to develop its new Personal Exoskeleton, which is claimed to be the first and only self-balancing exoskeleton designed for everyday use by individuals with severe mobility impairments.
The funding will also be used to accelerate patient access to Atalante X, a self-balancing robot designed for use by patients in rehabilitation and marketed by Wandercraft since 2019.
According to EIB, Atalante X is now used in nearly 100 rehabilitation institutions and clinical research centres across Europe and the United States. Atalante X has been evaluated with hundreds of patients around the world, including clinical trials and real-world evidence.
EIB Vice-President Ambroise Fayolle said: “Wandercraft’s exoskeletons have the potential to forever change the lives of people with walking impairments. We are proud to support emerging innovations in the healthcare sector and enhance the quality of life and welfare of patients on a global scale.”
CEO of Wandercraft Matthieu Masselin added: “At Wandercraft, our focus is on improving patient outcomes and creating a world where everyone can stand up and walk. From restoring a parent’s ability to walk their child down the aisle all the way to the simple act of standing and shaking hands after meeting, we are eager to provide patients with the full range of experiences that life has to offer.”
“This commitment from the EIB allows us to further accelerate our already rapid advancement in achieving this mission and furthers our ability to impact more people faster than ever.”
In December 2023, according to the company, Wandercraft received confirmation from the United States Food and Drug Administration (FDA) that Atalante X had been cleared for use by individuals with spinal cord injuries at levels T5 to L5.
This follows Atalante X’s previous clearance for use with stroke patients, making it one of the few FDA-cleared exoskeletons on the market today, and the only FDA-cleared exoskeleton with a powered ankle mechanism that mimics a natural human gait.
The EIB’s new €25 million loan benefits from a guarantee under the European Commission’s InvestEU programme.
Wandercraft is a global manufacturer developing and marketing advanced robotic solutions to enable people with walking impairments to stand up and walk again.
Courtesy: EIB
