Myomo® Extends and Strengthens its Global MyoPro™ Patent Portfolio
August 26 2020 - 6:00AM
Business Wire
New Multi-joint Patents in both U.S. and
Europe
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 additional
intellectual property protection with the issuance of new patents
in the U.S. and Europe related to MyoPro™, its unique wearable
robotic brace for arm and hand paralysis.
The U.S. Patent and Trademark Office has notified the Company
that Patent No. 10,758,394 will issue September 1, 2020. Titled
“Powered Orthotic Device and Method of Using Same,” this extends
the patent life on most MyoPro models through March 2039 as the
protected technology now covers the use of the device for multiple
joints, including a hand actuator. In addition, the European Patent
Office has notified Myomo of the impending issuance of a new
parallel patent covering its 38 member countries. With these patent
grants, the Company now has 12 patents issued worldwide, 2
exclusive licensed patents and 9 patents pending relating to
MyoPro.
Gene Tacy, Myomo’s Vice President of Engineering and
Manufacturing, said, “We are very proud of the ingenuity and
technical skills of our engineering team, as demonstrated by
receipt of these patents. Their hard work is displayed every day by
the hundreds of patients whose lives have been improved by
MyoPro.”
“This expansion of our global patent position solidifies our
leadership as the world’s only supplier of a myoelectric powered
upper limb orthosis. We are committed to protecting our
intellectual property around the world in order to secure the
long-term value of the MyoPro,” added Paul R. Gudonis, Myomo’s
chief executive officer.
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. 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, including benefits
expected from enhancements to its patent portfolio, 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.
These factors include, among other things:
- our sales and commercialization efforts;
- our ability to achieve reimbursement from third-party payers
for our products;
- our dependence upon external sources for the financing of our
operations, to the extent that we do not achieve or maintain cash
flow breakeven;
- our ability to effectively execute our business plan and scale
up our operations;
- our expectations as to our development programs; and
- general market, economic, environmental and social factors,
including the ongoing COVID-19 pandemic, that may affect the
evaluation, fitting, delivery and sale of our products to
patients.
More information about these and other factors that potentially
could affect our financial results is included in Myomo’s filings
with the Securities and Exchange Commission, including those
contained in the risk factors section of the Company’s annual
report on Form 10-K, quarterly reports on Form 10-Q and other
filings with the Commission. The Company cautions readers not to
place undue reliance on any such forward-looking statements, which
speak only as of the date made. Although the forward-looking
statements in this release of financial information are based on
our beliefs, assumptions and expectations, taking into account all
information currently available to us, we cannot guarantee future
transactions, results, performance, achievements or outcomes. No
assurance can be made to any investor by anyone that the
expectations reflected in our forward-looking statements will be
attained, or that deviations from them will not be material and
adverse. 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/20200826005098/en/
For Myomo: ir@myomo.com
Investor Relations: Kim Sutton Golodetz LHA Investor Relations
kgolodetz@lhai.com 212-838-3777
Public Relations: Kate McCann Matter Communications
myomo@matternow.com
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