Myomo receives $1.7M final license fee from China JV, enabling MyoPro manufacturing and sales in China

MYOMO, INC.

Received final $1.7M of initial license fee from Jiangxi Myomo JV; total upfront fee now $2.7M.
Enables start of technology transfer to JV for MyoPro manufacture and sale in China, Hong Kong, Taiwan, Macau.
JV committed to purchase at least $10.75M in MyoPro Control System Units over 10 years, subject to regulatory approvals.
Myomo owns 19.9% of JV; majority partner is Anhui Ryzur Medical Equipment Manufacturing.
Payment will be recognized as license revenue in Q2 2023.

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