Myomo today said it launched a business development program to help bring its MyoPro orthotic product line to more markets outside of the U.S.
The Cambridge, Mass.-based company will pursue technology licensing arrangements with international partners that can manufacture and distribute its MyoPro products to rehabilitation hospitals and home markets.
Through the business development program, Myomo will provide technical expertise to help set up local assembly and fabrication of custom devices, assist with clinical studies and regulatory approvals and train clinicians on how to evaluate, fit and train new users. The company will also offer its MyoPro Control System through a multi-year sales agreement with its distribution partner.
“We have been approached by companies with expertise in robotics, medical technology or rehabilitation services from a number of countries, including Japan, South Korea, China, India and several in the Mideast,” CEO Paul Gudonis said in a press release. “While we are directly expanding our distribution networks in the U.S. and Europe, developing licensing partnerships with firms in other international markets is designed to enable us to provide our MyoPro products to a larger patient population by leveraging the existing market positions and investments that would be made by local firms that wish to capitalize on this large market opportunity.”
