Victhom Human Bionics signs new license agreement with Ossur

Victhom Human Bionics Inc. ("Victhom", TSX: VHB) announced today that it had entered into a new license agreement to replace previous collaboration agreement with partner Ossur and sold certain Biotronix assets to Ossur for a total consideration of USD 500,000.

Following the completion of Victhom's product development activities on the second generation Power Knee earlier this year, the Company had restructured and refocused its Biotronix activities around product support. In this context, the objective of these transactions is to transfer product support and development activities to partner Ossur in order to facilitate the successful commercial launch of the second generation Power Knee.

Mr. Normand Rivard, President and CEO of Victhom, said: "The product development collaboration between Victhom and Ossur has produced a leading-edge product and IP. The final stage of development and preparation for the commercial launch of the second generation Power Knee is now fully in the hands of Ossur. We believe that these agreements will enable Ossur to fully leverage the great potential of the Power Knee product and help maximize future royalty stream for Victhom".

The Power Knee is the world's first and only motor-powered, artificially intelligent prosthesis for above-knee amputees that restores lost muscle function and enables amputees to perform normal daily functions without even thinking about their next movement. This breakthrough provides unprecedented stability, safety and confidence for any above-knee amputee.