MYO - Myomo receives partial payment for technology license fee from China JV

Medical robotics firm Myomo (NYSE:MYO) said its Chinese joint venture firm Jiangxi Myomo Medical Assistive Appliance had paid a portion of the technology license fee. The company said it received $1M of the total $2.7M license fee during March, which will be accounted for as revenue during the three months ended March 31. MYO expects the remainder of the license fee to be paid during the second quarter. Plans were underway to assist the joint venture staff in establishing operations for the production and sale of the MyoPro’s for individuals in China with upper-limb paralysis, the company said.  Shares of (MYO) rose 2% after the bell.

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Myomo receives partial payment for technology license fee from China JV