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PRESS KIT Contacts: Lana Rushing, lana@rushingpr. com, (310) 428 -1805 Janel Steinberg, janel@rushingpr. com, (310) 994 -9818
PRESS RELEASE MYOMO LAUNCHES INITIAL PUBLIC OFFERING VIA JOBS ACT REGULATION A+ WITH SIGHTS SET ON HISTORIC NYSE MKT LISTING Everyday Investors Can Now Buy Stock in Pioneering Wearable Medical Robotics Company Cambridge, Mass. (March 15, 2017) – Myomo, Inc. , a commercial stage medical robotics company, today announced a Regulation A+ initial public offering that allows any investor the opportunity to invest in the Company’s vision for expanded mobility for those suffering from neurological disorders and upper limb paralysis. Myomo’s non-invasive technology, exclusively licensed from Massachusetts Institute of Technology, restores a patient’s ability to use their partially paralyzed or weakened arms and hands again so that they can return to work, live independently and reduce their cost of care. Myomo is seeking to become the first company to launch a Regulation A+ IPO with listing on the New York Stock Exchange MKT (NYSE MKT). Tri. Point Global Equities, LLC, working with its online division BANQ® (www. banq. co), will act as the lead managing selling agent and bookrunner for the offering. Myomo intends to use the proceeds from the offering to fund sales and marketing, product development, repayment of debt, and for working capital and other general corporate purposes. “We are very excited to share our vision of restoring upper limb mobility to millions of Americans and others worldwide with a broad set of individual investors that now have the opportunity to invest in our Company, alongside accredited investors and institutions, to acquire shares at the initial offering price, ” said Paul R. Gudonis, CEO of Myomo. “While a traditional public offering is generally reserved for large institutions and the Wall Street elite to invest at this stage, we are taking advantage of new SEC regulations to level the playing field for all investors to participate concurrently in our IPO. ” “I am thrilled that Myomo is planning to become the first company to ever bring a Regulation A+ offering to the NYSE MKT, ” said Mark Elenowitz, CEO of Tri. Point. “It has been 84 years since the Securities Act of 1933 was enacted, but with the Title IV of the Jumpstart Our Business Startups (JOBS) Act, Myomo leads us into exciting new territory where Main Street meets Wall Street. ” 2
Myomo Allows Patients to Regain Essential Mobility Myomo’s core technology was originally developed at the Massachusetts Institute of Technology (MIT) in collaboration with medical experts affiliated with Harvard Medical School. In 2006, the Company was spun out from MIT and became the exclusive licensee of two patents owned by MIT that are behind the myoelectric technology. Since then, Myomo has launched three generations of its technology and expanded its patent portfolio. The latest generation Myo. Pro® custom-fabricated orthosis is specified for each patient and easily donned by the patient to perform everyday functional tasks at home or at work. The Myo. Pro is a myoelectric arm orthosis designed to support a weak arm. It can enable individuals to self-initiate and control movements of a partially paralyzed or weakened arm and hand using their own muscle signals. When the user tries to bend their arm, sensors in the Myo. Pro brace detect the weak muscle signal, which activates the motor to move the arm in the desired direction. The user is completely controlling their own arm and hand; the brace amplifies their weak muscle signal to help bend and move their arm. With the orthosis, a paralyzed individual, such as one who has suffered a brachial plexus injury, stroke or other neuromuscular disorder, can perform activities of daily living including feeding themselves, carrying objects, and doing household tasks. Due to the large number of strokes, spinal cord injuries, and other neurological conditions which occur each year, the potential market opportunity worldwide may consist of millions of individuals and is growing each year. The Opportunity to Invest in Myomo has previously raised more than $20 million from management, individual investors with healthcare and high-technology experience, and Mountain Group Capital. The company seeks to raise up to $15 million in its IPO under Regulation A+ and then, in succession and subject to NYSE requirements, be listed on the NYSE MKT as “MYO. ” Individuals interested in learning more about the Myomo Regulation A+ investment opportunity can visit banq. co/listings/myomo. 3
About Myomo, Inc. Myomo, Inc. is a commercial stage medical robotics company that offers expanded mobility for those suffering from neurological disorders and upper limb paralysis. Based on patented technology developed at MIT, Harvard Medical School, and by the Company, Myomo develops and markets the Myo. Pro® product line of lightweight, noninvasive, powered arm braces to restore function in the paralyzed or weakened arms and hands of individuals that have suffered a stroke, spinal cord or nerve injury such as brachial plexus injury, or other neuromuscular disability such as amyotrophic lateral sclerosis (ALS) or multiple sclerosis (MS). It is provided through clinical relationships with VA medical centers, leading rehabilitation hospitals, and Orthotics and Prosthetics (“O&P”) practices. Several hundred have been successfully used by patients. It is the only device that, sensing a patient’s own neurological signals through non-invasive sensors on the arm, can restore their ability to use their arms and hands so that they can return to work, live independently and reduce their cost of care. Myomo is headquartered in Cambridge, Massachusetts, with sales and clinical professionals across the U. S. For more information, please visit www. myomo. com. Legal Disclaimer Myomo Inc. ’s offering statement for its initial public offering under Regulation A has been qualified by the Securities and Exchange Commission. The securities offered by Myomo Inc. are highly speculative. Investing in shares of Myomo Inc. involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Furthermore, investors must understand that such investment could be illiquid for an indefinite period of time. No public market currently exists for the securities, and if a public market develops following the offering, it may not continue. To obtain a copy of the Offering Circular, go to https: //www. sec. gov/Archives/edgar/data/1369290/000121390017001690/f 1 a 2016 a 2_m yomoinc. htm or click here to download directly. 4
COMPANY OVERVIEW Improving people’s lives through myoelectric orthotic technology Myomo is a company of engineers, clinicians, and business leaders who have dedicated their professional careers to restoring function in individuals with neuromuscular conditions such as brachial plexus injury, traumatic brain injury, spinal cord injury, multiple sclerosis, ALS, and stroke. 5
COMPANY FACTS Raised over $20 million prior to Reg A+ IPO. Patented Myoelectric technology developed at MIT and the Company. Intends to list on NYSE MKT under “MYO”. International sales partnership agreement with Ottobock, a German Company recognized as the worldwide leader in prosthetics and orthotics, with $1 billion in annual sales. Received grant from Philadelphia Pediatric Medical Device Consortium (PPMDC) to fund development of a pediatric device. 6
THE MARKET Total US Potential Market Size $10 B + $1. 2 B Total US Potential Market Size 25% of 3 M existing cases of upper limb paralysis New Incidences / Year 25% of 350 k new cases each year * Assumes average selling price of $13. 4 k per device Total Worldwide Market Potential $30 B Estimate Includes: US + EU + ROW CAUSES OF UPPER LIMB PARALYSIS MULTIPLE SCLEROSIS SPINAL CORD INJURY BRACHIAL PLEXUS INJURY STROK E TRAUMATIC BRAIN INJURY AL S 7
The Myo. Pro® The Myo. Pro is a powered arm brace that is custom fabricated for each patient and is designed to help facilitate activities of daily living such as reaching, eating, and lifting. This at-home device is the first of its kind to aid in patient independence in the home. Our myoelectric arm orthosis is designed to support a weak or deformed arm. With Myo. Pro, individuals can initiate and control movements of a partially paralyzed or weakened arm using their own muscle signals. The device amplifies those muscle signals which powers the device to operate and facilitate movement. The Myo. Pro is only available by prescription from a physician. 1. User’s Brain is the Controller 2. Sensors Detect Muscle Signal 3. Surface EMG Signal Processing 4. Myo. Pro® Powered Arm Brace Assists with movement 8
THE TECHNOLOGY The Myomo technology was originally developed at Massachusetts Institute of Technology (MIT) in collaboration with medical experts affiliated with Harvard Medical School. In 2006, the Company was spun out from MIT and became the exclusive licensee of two patents behind the myoelectric technology. Myomo empowers people with a neuromuscular condition who have lost movement to perform the normal activities of everyday life. Myomo offers the Myo. Pro®, a myoelectric elbow/wrist/hand orthosis that enables patients to move a paralyzed hand arm again. Myomo is led by a management team and its board and advisory boards with renowned expertise in neuroscience, rehabilitation medicine, orthotics and prosthetics, engineering and management of high-growth companies. It is recommended by top hospitals and delivered through a growing network of established Orthotics & Prosthetics (O&P) professionals, with whom Myomo is working to make Myo. Pro the standard of care. Myomo’s unique technology is protected by patents resulting from extensive research and development, and it is the only powered orthosis available for upper limb use. Myo. Pro has been proven safe and effective with hundreds of users, is covered by the Veterans Administration and reimbursed by a growing number of insurers. Myo. Pro® is the only product of its kind for people who suffer from debilitating neurological disorders, such as brachial plexus injury or spinal cord injury, CVA stroke, multiple sclerosis, or Amyotrophic lateral sclerosis (ALS). 9
EXECUTIVE TEAM PAUL R. GUDONIS Chairman, Chief Executive Officer Mr. Gudonis has served as CEO of Myomo for the past five years, positioning the company as the leader in medical robotics to overcome upper limb paralysis. He has pioneered new technologies and created new markets during his 30 -year career spanning biomedical devices, robotics, software, and telecommunications services. From launching the first cell phone service in the country at AT&T to building the first Internet backbone network at BBN into a billion-dollar global services provider, he has grown venture-backed startup companies, led several publicly held corporations, and expanded the US FIRST robotics program to record growth and profitability. He has served as a board member of public and private companies and as Chairman of the Massachusetts High Tech Council. He is a member of the Dean’s Advisory Council at his alma mater, Northwestern University’s Mc. Cormick School of Engineering, where he earned his degree in electrical engineering. At the university, he is a member of the Biomedical Engineering Department council, an industry advisor to the NUvention medical device innovation program, and advises a student-led startup, Design for America, which is expanding to college campuses nationwide to develop entrepreneurial solutions for local nonprofits. He also earned his MBA degree from Harvard University. 10
EXECUTIVE TEAM JONATHAN NAFT CPO, Vice President, General Manager Jonathan is a highly-regarded member of the O&P community and is the founder of Geauga Rehabilitation Engineering, Inc. , an orthotics and prosthetic practice in the Cleveland, Ohio area. He is a graduate of The Ohio State University College of Engineering and from Northwestern University Prosthetic-Orthotic Center. He was recently honored by the Academy of O&P with its prestigious Tamarack Prize, recognizing his contributions to the science of orthotic and prosthetic care with product innovations. 11
EXECUTIVE TEAM DR. BRANDON GREEN Chief Medical Officer Dr. Green is a licensed physician and a board certified prosthetist trained in general surgery at Cleveland Clinic, physical medicine/rehabilitation at Tufts Medical Center, and prosthetics at Northwestern University. This diverse background has allowed him to develop a unique skill set not usually found in the orthotics/prosthetics specialty. He blends practical clinical and technical expertise with a deep understanding of how to bring physicians, therapists, prosthetists/orthotists, patients, insurers, and other stakeholders together to make Myo. Pro the new standard of care for people with upper limb paresis. RALPH GOLDWASSER Chief Financial Officer Mr. Goldwasser is senior financial executive who has contributed significantly to the growth of public and private high technology companies. Mr. Goldwasser was the CFO of Unica Corporation, BBN Inc. and Avici Systems Inc. He is a CPA and was an audit manager with Coopers & Lybrand (PWC). City College of New York (BS) and New York University (MBA). 12
EXECUTIVE TEAM DAVIE MENDELSOHN, RN Vice President of Sales & Clinical Services Davie is an experienced sales leader in the O&P industry having held positions at Touch Bionics, Ossur and Ottobock. She has introduced high tech products and led national sales teams working with O&P providers. GENE TACY Vice President of Engineering For past eight years, he has led the company’s engineering team in the development of the software architecture and electromechanical control system of the Myomo product line. Gene has a Master’s in electrical engineering from Clarkson University and has previously worked at Intel, GE corporate R&D, and NComm, Inc. 13
BOARD MEMBERS THOMAS F. KIRK Lead Independent Director, Chair of Nominating and Governance Committee, Board Member Thomas F. Kirk is a leader in the Orthotics & Prosthetics industry. He is currently CEO of American Surgical Professionals and previously served as the CEO for 5 years and COO for 6 years at Hanger, Inc. , building the company into the largest provider of O&P services in the country, with over 750 locations and $1 billion in annual revenues. Over the last 15 years, he has held numerous positions of leadership in the American Orthotics and Prosthetics Association (AOPA) including President and chairman of numerous committees. Mr. Kirk has a mechanical engineering degree from Carnegie Mellon University, earned his Ph. D. at the University of Pittsburgh, and has served in operational and financial management roles at a number of companies during his career. AMY KNAPP Chair of Audit Committee, Board Member Amy Knapp held a sequence of roles at United Health Group with profit and loss responsibility for various customer segment and regional business units as large as $15 billion in annual revenue. She also serves on many healthcare-related boards of directors including Mt Sinai Medical Center (a thousand bed teaching hospital in Miami Beach); Affinity Health Plan (a Medicaid health plan in the Bronx); and Voxiva (a textbased digital health and wellness company in Washington DC). She earned a BA from Pomona College, Claremont, CA and an MBA from the University of Southern California. 14
BOARD MEMBERS STEVE SANGHI Board Member Mr. Sanghi has served as Chief Executive Officer of Microchip Technology since October 1991, and Chairman of the Board of Directors since October 1993, growing its annual revenues to $3 billion from $89 million during his tenure. In June 1995, Mr. Sanghi received the Arizona Entrepreneur of the Year award. He is the co-author of the book “Driving Excellence: How the Aggregate System Turned Microchip Technology from a Failing Company to a Market Leader (Wiley; April 2006), ” along with Michael J. Jones, Microchip’s former head of human resources. He has also held executive positions at Waferscale Integration, Inc. , and Intel Corporation, as well as serving on the board of directors of several publicly-traded technology companies. Mr. Sanghi holds a Masters of Science degree in Electrical and Computer Engineering from the University of Massachusetts, and a Bachelor of Science degree in Electronics and Communication from Punjab University, India. THOMAS A. CROWLEY JR. Member Mr. Crowley is CEO of Vertical Spine, LLC, and currently serves on the Boards of Vertical Spine, LLC, Cascade Medical Enterprises, LLC in addition to Myomo, Inc. He is actively engaged in providing governance and business advice involving financial transactions, business strategy, and execution to four medical device companies and two private equity firms. He holds a BA from Fairfield University, Fairfield, CT, MS, Columbia University School of Business, New York, NY and is a Graduate, U. S. Army Command General Staff College, Ft. Leavenworth, KS. 15
SCIENTIFIC ADVISORY BOARD CHAIR ROSS D. ZAFONTE, D. O. Harvard Medical School, Mass General Hospital, Spaulding Rehabilitation Hospital Dr. Ross D. Zafonte is Earle P. and Ida S. Charlton Professor and Chairman of the Department of Physical Medicine and Rehabilitation at Harvard Medical School. He also serves as chief of Physical Medicine and Rehabilitation at Massachusetts General Hospital, Brigham and Women’s Hospital, as well as Senior Vice President Medical Affairs Research and Education at Spaulding Rehabilitation Network. Dr. Zafonte’s textbook is considered one of the standards in the field of brain injury care. Dr. Zafonte’s work is presently funded by the NIH, DOD, and NIDRR, and he is currently directing several large clinical treatment trials. His laboratory work has focused on understanding mechanisms of recovery after Brain and Spinal Cord Injury. Dr. Zafonte also previously served on the Board of Governors for the American Congress of Rehabilitation Medicine. He has published extensively on traumatic brain injuries, spasticity, and other neurological disorders, as well as presented on these topics at conferences nationally and internationally. He is the author of more than 300 peer reviewed journal articles, abstracts and book chapters. In addition, he is on the editorial board of the Journal of Neurotrauma. He previously served on the founding editorial board of PMR. In 2006, Dr. Zafonte was selected to receive the Walter Zeiter award and lectureship by the American Academy of Physical Medicine and Rehabilitation, and, in 2008, he was the recipient of the Association of Academic Physiatrists Distinguished Academician Award. In 2012, Dr. Zafonte received the William Caveness award for outstanding clinical care and research from the Brain Injury Association of America, and, in 2013, he received the Joel De. Lisa Prize from the Kessler Foundation. In 2014 Dr. Zafonte received the Moody prize for Brain Injury research and care. 16
Medical Use Disclaimer The Myo. Pro® is indicated for use to support a weak limb and for functional improvement through the movement of that limb. An individual with limited joint movement or long term muscle weakness in the arm and/or hand due to a neurological disorder or other condition may be a candidate for the Myo. Pro powered brace. The Myo. Pro is a fabricated limb orthosis for each individual that enables functional tasks in their home, work, and community that otherwise have been limited by a neuromuscular condition or injury. The Myo. Pro is only available by prescription from a physician. Forward-Looking Statements This release may contain forward-looking statements regarding projected business performance, operating results, financial condition and other aspects of the company, expressed by such language as “expected, ” “anticipated, ” “projected” and “forecasted. ” Please be advised that such statements are estimates only and there is no assurance that the results stated or implied by forward-looking statements will actually be realized by the company. Forward-looking statements may be based on management assumptions that prove to be wrong. The company and its business are subject to substantial risks and potential events beyond its control that would cause material differences between predicted results and actual results, including the company incurring operating losses and experiencing unexpected material adverse events. 17
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