Myomo Announces Departure of Steve Sanghi from Board of Directors
October 11 2019 - 4:05PM
Business Wire
Microchip Technology CEO will continue as
advisor to Myomo and as an investor
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, today announced the resignation of Steve
Sanghi from its Board of Directors to focus on his duties as CEO
and Board Chairman of Microchip Technology Inc. He will continue to
serve as an advisor to Myomo and remain a personal investor in the
company.
“On behalf of the Board and shareholders of Myomo, I want to
thank Steve for his service to the company,” said Paul R. Gudonis,
CEO and chairman of Myomo. “He strongly believes in Myomo’s mission
and opportunity, and has supported the company as both an investor
and Board member since before our IPO in 2017. We are pleased that
he will continue to advise the company and be a resource to us
going forward.”
“I am incredibly pleased with the progress Myomo has made and
excited to watch its future success,” said Sanghi. “While I will be
stepping down from the Board, I am glad to continue to be an
advisor to and investor in what I believe is a unique opportunity
for the company to establish itself as the standard of care in
upper limb paralysis.”
Lead Independent Director, Thomas F. Kirk, will replace Mr.
Sanghi on Myomo’s Audit Committee.
About Myomo Myomo, Inc. is a wearable medical robotics
company that offers expanded mobility for those suffering from
neurological disorders and upper limb paralysis. Myomo develops and
markets the MyoPro product line. MyoPro is 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 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 Cambridge, Massachusetts, with
sales and clinical professionals across the U.S. and
representatives internationally. For more information, please visit
www.myomo.com.
Forward Looking Statements This press release contains
forward-looking statements regarding the Company's future business
expectations which are subject to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are only predictions and may differ
materially from actual results due to a variety of factors. Our
actual results could differ materially from those anticipated in
these forward looking statements for many reasons, including,
without limitation, risks related to regulatory approval and market
acceptance of our products, and the other risk factors contained in
our filings made with the Securities and Exchange Commission. More
information about factors that potentially could affect Myomo's
business and financial results is included in Myomo's filings with
the Securities and Exchange Commission. The Company cautions
readers not to place undue reliance on any such forward-looking
statements, which speak only as of the date made. The Company
disclaims any obligation subsequently to revise any forward-looking
statements to reflect events or circumstances after the date of
such statements or to reflect the occurrence of anticipated or
unanticipated events.
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version on businesswire.com: https://www.businesswire.com/news/home/20191011005009/en/
Investor Relations: Adam S. Holdsworth PCG Advisory, Inc.
646-862-4607 adamh@pcgadvisory.com Public Relations: Sarah
Karr Matter Communications 978-518-4817 myomo@matternow.com
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