MIT spinout Myomo bags $5M to market its arm movement device for the neurologically impaired

MyoPro--Courtesy of Myomo

Myomo has raised an initial $5 million tranche of a Series B round to help it to market its MyoPro Myoelectric Arm Orthosis. The round was from existing investors and led by Mountain Group. The device is designed to support and enable movement a weak or deformed arm; it works for people whose arm cannot fully execute the intended arm movement by amplifying the electrical muscle signal.

With the MyoPro, paralyzed patients, such as those having suffered a brachial plexus injury, stroke or other neuromuscular disorder can better perform daily activities including feeding, reaching and lifting.

Myomo's technology was originally developed at the Massachusetts Institute of Technology (MIT) in collaboration with researchers from Harvard Medical School. Myomo spun out as a separate company in 2006, exclusively licensing two the patents behind the myoelectric technology.

"In 2015, we expect to provide our MyoPro orthoses to a larger number of people impacted by neuromuscular conditions through our expanded sales organization and the growing number of VA hospitals that provide the MyoPro to veterans," said Myomo CEO Paul Gudonis, said in a statement.

"In addition, our new distribution agreement with Ossur, a leading company in the orthotics and prosthetics industry, will enable us to assist even more patients," he said.

MyoPro works to enable four-degree freedom of movement. It offers flexion and extension of the radial and ulnar deviation, rotation including pronation and supination, multiaxial wrist movement and adjustable ratcheting and tension for each degree of freedom. The device uses a myoelectric-driven motorized elbow joint along with a manually set multiarticulating wrist.

"The MyoPro is an excellent device that has helped me move my arm again," said Michael Jarjoura, a deputy sheriff who has used the MyoPro since 2013, said in a statement. "I see the MyoPro as a means to improve my quality of life. I am on track to be able to do more around the house and help my wife out with the chores."

- here is the release

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