Össur and Ottobock, two of the world’s leading prosthetics innovators, will undertake a historic joint philanthropic effort to further development in the breakthrough field of mind-controlled prosthetics, it was announced today.
Fueled by the companies’ initial combined contribution of US$1 million, the Össur and Ottobock Research Trust Fund that has been established at the University of Iceland will award international grants for scientific research and innovative projects in the field of advanced neural control of prosthetic limbs.
“Neural-controlled prosthetics is one of the greatest clinical challenges in our field, and its potential to impact lives is so significant that both companies embraced the opportunity to marshal resources and help accelerate this critical technological development,” said Thorvaldur Ingvarsson, M.D., Ph.D., Executive Vice President of Research and Development of Össur.
“Neural-controlled prosthetics could transform the lives of thousands of people with limb loss throughout the world, and we look forward to supporting the ongoing exploration of the field through the creation of this new fund,” said Dr Hans Dietl, Chief Technology Officer of Ottobock.
The first grants from the Össur and Ottobock Research Fund at the University of Iceland will be rewarded within one year. The fund will be governed by a four-person committee, comprised of two University of Iceland representatives and one representative from each company. “We are gratified that our University has been chosen to play a pivotal role in furthering mind-controlled prosthetics technology,” said Dr Jón Atli Benediktsson, Rector of the University of Iceland. According to Dr Benediktsson, details regarding the Fund’s grant application process will be announced in the near future.
About Össur
Össur (NASDAQ: OSSR) is a global leader in non-invasive orthopaedics that help people live a life without limitations. Its business is focused on improving people’s mobility through the delivery of innovative technologies within the fields of Prosthetic, Osteoarthritis and Injury Solutions. A recognized “Technology Pioneer,” Össur invests significantly in research and product development—its award-winning designs ensuring a consistently strong position in the market. Successful patient and clinical outcomes are further empowered via Össur’s educational programs and business solutions. Headquartered in Iceland, Össur has major operations in the Americas, Europe and Asia, with additional distributors worldwide.
About Ottobock
Around the world, the Ottobock name stands for high-quality and technologically outstanding products and services. The goal of helping to restore mobility for people - or protect what mobility they have - stands behind each and every Ottobock product. The conviction that quality of life is closely associated with a maximum of individual freedom and independence is a key concept that has been a major influence throughout the company’s history. Since its founding in Berlin in 1919, Ottobock has pursued a vision: to improve the mobility of people with disabilities through innovative products. In doing so, the company equates quality with “Quality for life”: the quality of life enjoyed by the people who use Ottobock products every day.