Receipt of Full License Fee and Technology Transfer Expected to Begin before March 31, 2022
BOSTON, Mass. (January 5, 2022) – Myomo, Inc. (NYSE American: MYO) (“Myomo” or the “Company”), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper limb paralysis, announces the entry into an
amended and restated joint venture agreement (the “Amended JV Agreement”) with Beijing Ryzur Medical Investment Co., Ltd. (“Ryzur Medical”) and Wuxi Chinaleaf Rehabilitation Industry Equity Investment Fund (“Chinaleaf”), and the signing of a Technology License Agreement and a Trademark License Agreement with Jiangxi Myomo Medical Assistive Appliance Co., Ltd. (the “JV Company”). The Amended JV Agreement, the Technology License Agreement and the Trademark License Agreement are each effective December 29, 2021 (the “Effective Date”). The original Joint Venture Agreement was entered into on January 21, 2021. Read more.