Simbex Press Release

SIMBEX AWARDED $750K TOWARDS COMMERCIAL DEVELOPMENT OF THE POWERFOOT ONE™ POWERED ANKLE PROSTHESIS INVENTED BY RENOWNED MIT MEDIA LAB PROFESSOR HUGH HERR

Lebanon, NH - August 1, 2007 - Research and product development firm Simbex was awarded a $750K Phase II contract from the US Army through the Small Business Technology Transfer Research (STTR) program for commercial development of PowerFoot One™, the world’s first powered ankle prosthesis for lower limb amputees. Simbex founder and President Richard Greenwald, PhD, Principal Investigator on the project, has joined forces with internationally renowned inventor and MIT Media Lab professor Hugh Herr, PhD, to commercialize the technology, which represents a paradigm shift in lower limb prosthetics towards powered devices that augment the body’s capabilities far beyond that of passive prosthetic components.

The STTR award will be used to complete development of the PowerFoot One™ product and control algorithms, to perform relevant regulatory testing, and to perform clinical validation studies of the benefits of the product with lower limb amputees. The clinical portion of the project will be run by Paolo Bonato, PhD, Director of the Motion Analysis Laboratory, Department of Physical Medicine and Rehabilitation at Harvard Medical School/Spaulding Rehabilitation Hospital in Boston, Massachusetts.

Herr and Greenwald founded iWalk, Inc., in late 2006, and have licensed the technology from MIT and raised private funds to develop the company and its products related to human augmentation. The PowerFoot One™ has an expected commercial launch in 2008.

"We have an incredible opportunity to provide state-of-the-art technology to our soldiers who have lost their lower leg", said Greenwald. "We appreciate the Army’s commitment to this project and to the development of the next generation of prosthetic devices that will benefit military and civilian personnel alike. We are fortunate to have a world class team of experts at Simbex and with our partners at iWalk, MIT, and Spaulding Rehab to solve the significant technical challenges associated with powered prosthetic development."

About Simbex LLC
Simbex is a research and product development company whose core expertise is biomechanical feedback systems. The company develops marketable products and solutions from emerging technologies for active life improvement in the areas of prosthetics, sports injury prevention and rehabilitation. The founders are internationally recognized experts in their fields and have decades of experience in the area of functional evaluation and efficacy assessment of complex biomechanical systems for the sporting goods, orthopedic and exercise equipment industries. The research branch of the company is supported in part by grants from the National Institutes of Health, the National Science Foundation, and the Department of Defense. For further information about Simbex, visit the company's Web site at http://www.simbex.com.