Stroke, spinal injury and neuromuscular disease affect more than 13 million people in Japan, Europe and the US. Cyberdyne’s pioneering robot technology can improve their physical function and reduce the cost of treatment. Deutsche Bank is supporting plans that include expansion into the world’s largest healthcare market.

Japanese technology company Cyberdyne created the HAL (Hybrid Assistive Limb) robot suit to help people whose physical mobility has been reduced by illness, injury or old age. HAL regenerates and improves neuro-physical function, leading to dramatic improvements in the mobility of patients.

This important medical breakthrough is available through the public healthcare system in some countries. Cyberdyne needed financing to expand the distribution of HAL internationally.

Cyberdyne attracts a lot of interest from investors who see the commercial potential of HAL. But it requires authorisation from local regulators to enter new markets. This can be a complex and lengthy process.

Deutsche Bank found a unique solution to reduce risk for investors. “We linked Cyberdyne’s funding to its success in securing regulatory approvals. So it receives more capital when it proves that it can increase revenue,” explains Chiori Takesue from Corporate Finance in Tokyo.

Pioneering tech companies need capital to develop the market for their products and invest in new ideas
Chiori Takesue, Deutsche Bank

The US is the world’s largest healthcare market. The American Depositary Receipts programme created by Deutsche Bank for US investors has helped raise Cyberdyne’s profile there. HAL is now available to patients in the US. “There are many people around the world that Cyberdyne can help,” says founder Dr Yoshiyuki Sankai. 

Corporate finance

Deutsche Bank has led over USD 780bn of financings and M&A transactions for healthcare companies since 2015