Facebook Instagram Linkedin Youtube

888-669-1033

Myomo logo.
Am I Eligible?
Press Release

Myomo, Inc. Announces Granting of Patents in China and Hong Kong

Patents expected to be licensed to joint venture company established with Ryzur Medical

BOSTON (September 7, 2021) – Myomo, Inc. (NYSE American: MYO), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, today announced the granting of patents in China and Hong Kong covering the Company’s most advanced products. Patent number ZL201680032072 was issued in China and patent number 1251447B was issued in Hong Kong. The patents are titled “Powered Orthotic Device and Method of Using Same,” covering a powered orthotic device that supports movement of a user’s arm about the elbow and a user’s fingers and thumb to support grasping. These newly issued patents are in force through June 2036.

These patents are expected to be licensed to a newly formed company in China, Jiangxi Myomo Medical Assistive Appliance Co., Ltd. (JV Company), which was established on August 12, 2021, pursuant to an Equity Joint Venture Contract entered into between the Company and Beijing Ryzur Medical Investment Co., Ltd. (Ryzur) in January 2021. A Technology License Agreement between the Company and the JV Company is expected to be entered into once certain operational and financial milestones by Ryzur and the JV Company are met.

“We are looking forward to partnering with Myomo to bring this advanced technology to hospitals and patients in China. Now that the JV company is established, our next steps are to complete the funding, introduce the MyoPro to distributors and hospitals and set up the operations for launch of the products in the large China market.” — David Ren, Founder & President, Ryzur
“With approximately 14 million paralyzed arms, China represents the largest market in the world for our products. We are pleased that we have been granted these patents, which together with our growing success in providing our products and obtaining reimbursement in Europe and the United States, represent an important milestone on the path toward becoming the worldwide standard of care for individuals suffering from upper extremity impairment as a result of stroke, nerve injury and other conditions.” — Paul R. Gudonis, Chairman & CEO, Myomo

About Myomo

Myomo, Inc. is a wearable medical robotics company that offers improved arm and hand function for those suffering from neurological disorders and upper-limb paralysis. Myomo develops and markets the MyoPro product line — a powered upper-limb orthosis designed to support the arm and restore function to the weakened or paralyzed arms of patients suffering from CVA stroke, brachial plexus injury, traumatic brain or spinal cord injury, ALS, or other neuromuscular disease or injury.

It is currently the only marketed device in the U.S. that, sensing a patient’s own EMG signals through non-invasive sensors on the arm, can restore an individual’s ability to perform activities of daily living, including feeding themselves, carrying objects, and doing household tasks. Many are able to return to work, live independently, and reduce their cost of care.

Myomo is headquartered in Boston, Massachusetts, with sales and clinical professionals across the U.S. and representatives internationally. For more information, visit www.myomo.com.

Contacts:
Myomo: ir@myomo.com

Investor Relations:
Kim Sutton Golodetz
LHA Investor Relations
kgolodetz@lhai.com
212-838-3777
Download Press Release (PDF)