CAMBRIDGE, Mass.--(BUSINESS WIRE)--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 that it has signed an agreement with Progettiamo Autonomia Robotics (PAR) with the goal of offering MyoPro in Italy. PAR is a unit of Progettiamo Autonomia, headquartered in Reggio Emilia, Italy, with 17 offices nationwide.
PAR’s focus is on neurological pathologies. It delivers aids and devices for orthopedic rehabilitation, and works with clinicians to offer patients functional recovery.
“Progettiamo Autonomia Robotics aims to become the leading robotics company in Italy,” said Cristian Iori, Progettiamo Autonomia Robotics CEO. “We are well known in the rehabilitation market where our focus is innovation and we are supported with a large commercial network of partners. Myomo offers us a great opportunity to extend our catalog, addressing a broader range of patients and conditions and delivering better service to rehabilitation facilities and direct to patients.”
Paul R. Gudonis, Chairman and CEO of Myomo, said, “This agreement with PAR enables Myomo to continue to expand our footprint in Europe, where we are already working with orthotics and prosthetics (O&P) practices and rehabilitation facilities in Denmark, Germany and U.K. PAR represents exactly the kind of innovative partner with whom we expect to build a solid global business over time.”
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. 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 include, but are not limited to, our plans for offering our MyoPro product in Italy, expansion of its business in Europe and beyond. 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, our ability to secure and maintain reimbursement for our products, our ability to obtain additional funding to sustain and grow our business, 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.