Myomo: Surges on JV to sell robotic medical devices in China
26/01/2021 14:13
** Robotic medical device maker's shares MYO.A up 22% at
$13.3 premarket, set for their best day in 4 months
** Co signs agreement to form a joint venture with privately
held Beijing Ryzur Medical Investment Co to manufacture and sell
MYO's products in China urn:newsml:reuters.com:*:nBw62jQYba
** Myomo will own a minimum 19.9% stake in the JV
** Under the agreement, Myomo would be entitled to receive
an upfront license fee of $2.5 mln
** Majority ownership in the JV, to be named Jiangxi Myomo
Medical Assistive Appliance Co, will be held by Ryzur Medical
** Up to Monday's close, MYO stock rose 15% in last 12 mths
(Reporting by Dania Nadeem in Bengaluru)
((Dania.Nadeem@thomsonreuters.com;))