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Myomo, Inc. (AMEX: MYO) has announced the launch of the MyoPro 2+, an enhanced powered brace designed for individuals with neurological disorders and upper-limb paralysis. This new model features a lighter design, improved comfort, and advanced grasp functionality. Deliveries are set to begin this month. The MyoPro 2+ will be manufactured in-house, allowing for better customization and reduced production costs. CEO Paul R. Gudonis emphasized the device's improved user experience and the company's rapid growth trajectory.
Positive
Launch of MyoPro 2+, enhancing functionality for patients.
Lighter weight and improved comfort features.
In-house fabrication streamlines delivery and reduces costs.
Customization options including color and harness styles.
Expected to support company growth and scalability.
Negative
None.
Company Continues to Innovate with Digital Technologies
BOSTON--(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 the availability of MyoPro 2+, an enhanced version of its popular MyoPro powered brace. Deliveries to patients will begin this month.
Building on the MyoPro 2, MyoPro 2+ offers lighter weight, easier donning, greater comfort, and improved grasp functionality. Software and firmware enhancements include more powerful and simplified configuration options for clinicians and users as well as customizable speed control for more natural arm movement.
“The user experience is at the core of all our innovations. With this enhancement, not only will our adult and adolescent patients engage with the MyoPro 2+ in ways that make it more functional for them, they will also see a dramatic improvement in the ability to tailor the device to their preferences, including two harness options and more than 30 color and pattern styles, enabled by the introduction of 3D printing of the orthotic components”, explained Shiven Ruparel, Director of Product Management.
Advancing Myomo’s custom fabrication process, MyoPro 2+ will now be fabricated in-house at the Company’s Boston headquarters. This state-of-the-art operation will streamline the customer journey from evaluation to product delivery. MyoPro 2+ ensures a better device fit while lowering production costs and improving delivery times and convenience for patients.
Paul R. Gudonis, Myomo CEO, said “Our goals for MyoPro 2+ were to improve the experience and functionality for our users while at the same time reducing costs and cycle times for Myomo. Our field trials indicate we have accomplished both. Myomo is growing rapidly, and these enhancements are expected to further support our ability to scale up and offer increased upper limb functionality to more and more people.”
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 Boston, 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 MyoPro 2+ and the anticipated availability of this product, 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.
Investor Relations:
Kim Sutton Golodetz LHA Investor Relations
kgolodetz@lhai.com
212-838-3777
Source: Myomo, Inc.
FAQ
What is the MyoPro 2+ by Myomo?
The MyoPro 2+ is an enhanced powered brace designed for individuals suffering from neurological disorders and upper-limb paralysis, offering improved functionality and comfort.
When will deliveries of MyoPro 2+ start?
Deliveries of the MyoPro 2+ are expected to begin this month.
How does MyoPro 2+ improve user experience?
The MyoPro 2+ features lighter weight, greater comfort, improved grasp functionality, and customizable options for a tailored fit.
What are the manufacturing changes for MyoPro 2+?
MyoPro 2+ will be fabricated in-house at Myomo's Boston headquarters, enhancing the customer journey and reducing production costs.
What are the growth expectations for Myomo with the MyoPro 2+?
Myomo anticipates that the MyoPro 2+ enhancements will support its growth and ability to provide upper limb functionality to more patients.
