Blue Arbor Technologies Raises $10.5 Million Series A Led by Ottobock

Funds will support completion of feasibility testing, the launch of U.S. clinical studies and product development for the RESTORE™ Neuromuscular Interface System

ANN ARBOR, Mich.--(BUSINESS WIRE)--Blue Arbor Technologies, Inc., a company developing novel neuromuscular interfaces and next-generation prosthetic control solutions for people with limb loss, today announced the close of its $10.5 million Series A financing round. The Series A was led by Blue Arbor’s strategic partner Ottobock, the global leader in prosthetics, neuro-orthotics, and wearable human bionics.

The financing will be used to fuel progress on the RESTORE™ Neuromuscular Interface System, a first-of-its kind platform that has the potential to fundamentally transform how people with limb loss control their prosthetic devices. Proceeds will be used to complete feasibility studies and to pursue FDA Investigational Device Exemption (IDE) to support clinical studies in the U.S. for the RESTORE™ ESU. In tandem, Blue Arbor will also begin development of the RESTORE™ ISU.

“Blue Arbor’s technology has the potential to set a new standard in prosthetic control,” said Oliver Jakobi, Chief Executive Officer of Ottobock. “This investment reflects our approach to deploying capital in areas that complement our core business and offer significant long-term growth potential. Together, we aim to translate pioneering research into scalable solutions that deliver meaningful value for people with limb loss.”

The RESTORE™ System is designed to enable independent and simultaneous control of the fingers, wrist, and elbow, unlocking levels of dexterity, speed, and reliability that approach natural limb movement and provide unparalleled control of today’s most advanced prostheses. Blue Arbor is developing two versions: an external sensing unit (ESU) interface and a fully implantable, next-generation internal sensing unit (ISU) interface that seamlessly integrates into the RESTORE™ System platform.

"This funding is a testament to the team, the science, and the patients driving this work,” said Tod Borton, Chief Executive Officer of Blue Arbor Technologies. “With two successful human implantations thus far, we are looking forward to helping more patients through our collaboration with Ottobock. This is a pivotal moment for Blue Arbor and for the field of prosthetic control — we are closing the gap between where the technology is today and where it needs to be for the millions of people living with limb loss."

Feasibility studies continue to advance, highlighted by a successful second-in-human procedure using the RESTORE™ ESU at the Medical University of Vienna, one of Europe's foremost centers for reconstructive and prosthetic surgery.

“We have been extremely impressed with the results of these initial surgeries, particularly how quickly and naturally patients have adapted to the technology," said Prof. Oskar Aszmann, Director of the Center for Bionic Extremity Reconstruction, Medical University of Vienna. “As doctors, it is our onus to provide solutions to improve our patients’ lives and with the RESTORE System we have been able to bring intuitive hand movement back to those who never thought they’d experience it again.”

Blue Arbor's RESTORE™ System technology was recently selected to support a clinical study led by the University of Michigan, funded by a UG3 grant from the National Institutes of Health. The study will compare the effectiveness of surface electrodes against implanted electrodes for prosthetic control. The RESTORE™ System received FDA Breakthrough Device Designation and has been accepted into the FDA’s Total Product Life Cycle (TPLC) Advisory Program (TAP) Pilot.

For more information about the RESTORE™ System and Blue Arbor Technologies, please visit https://bluearbortech.com.

About Blue Arbor Technologies

Blue Arbor Technologies is a medical device company devoted to the development of next-generation robotic control systems for people with limb loss so they can intuitively, accurately, and reliably control a prosthetic device with unparalleled degrees of freedom. The RESTORE™ System is a neuromuscular interface system that provides a direct connection between the patient’s peripheral nervous system and their robotic prosthetic limb. Blue Arbor Technologies is a privately held company located in Grass Lake, Michigan. For more information, please visit https://bluearbortech.com and connect on LinkedIn, Instagram, YouTube, and Facebook.

Legal Notice

This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the company, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer or sale of the company’s securities, if made, will be made only pursuant to an applicable exemption from registration under the U.S. Securities Act of 1933, as amended, and in accordance with applicable securities laws. This press release contains forward-looking statements, including, but not limited to, statements regarding the development, clinical and regulatory plans, potential benefits, safety and efficacy of the RESTORE™ Neuromuscular Interface System, the anticipated timing and design of current and future clinical trials, the company’s business strategy and plans, and the company’s financing and partnership activities. Forward-looking statements are based on management’s current expectations and involve inherent risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, risks related to clinical development, regulatory review and approval, product safety, market acceptance, reimbursement, competition, intellectual property, and the company’s ability to raise additional capital on acceptable terms or at all. Forward-looking statements speak only as of the date of this press release, and the company undertakes no obligation to update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by applicable law. The RESTORE™ Neuromuscular Interface System is an investigational device and is not approved or cleared by the U.S. Food and Drug Administration or any other regulatory authority for commercial distribution in any jurisdiction.