Microbot Medical Receives Notice of Allowance from the Israel Patent Office for a Patent Application covering a System for Re...
July 24 2019 - 7:30AM
As it continues to expand and diversify its Intellectual Property
(IP) portfolio, Microbot Medical (Nasdaq: MBOT) announced that it
has received a Notice of Allowance from the Israel Intellectual
Property Office for Patent Application No. 231815, which pertains
to a device for reducing shunt stenosis (occlusion). With this
latest Notice of Allowance, the Company now has 33 issued/allowed
patents and 18 patent applications pending worldwide.
“One of our goals is to explore adjacent market
opportunities and leverage our unique robotic technologies, and
this IP allowance enables us to expand and secure our future
product offerings, while ensuring a sustainable competitive
advantage,” commented Harel Gadot, CEO, President and
Chairman. “The dialysis market represents one of the largest
market opportunities for our self-cleaning shunts, and being able
to deliver an alternative to the current standard of care, we
believe will significantly improve patient outcomes while reducing
the healthcare costs since shunt occlusion is one of the most
common complications.”
The allowed patent application covers a system
for reducing venous stenosis associated with the use of
hemodialysis shunts. A clearing device is inserted into the blood
vessel, and later removed through a first needle bore, while
dialyzed blood is returned into the blood vessel through a second
needle bore. The clearing device contacts the walls of the blood
vessel when it is deployed, and it may be a passive device which is
moved down the blood vessel by the blood flow or an autonomous
crawling device, such as the Company’s TipCat™ device, which is
based on a series of sequentially inflatable chambers.
According to the U.S. Renal Data System (USRDS),
there are over 750,000 patients per year in the United States and
an estimated 2 Million patients worldwide that are affected by end
stage renal disease (ESRD). As these numbers continue to
rise, the only alternative today to kidney transplantation is
dialysis. Hemodialysis involves pumping a patient’s blood
through an external circuit for filtration before it is pumped back
into the body. A typical hemodialysis schedule is three sessions
per week, for 3-5 hours per session at a medical facility.
About Microbot Medical,
Inc.
Microbot™, which was founded in 2010 and
commenced operations in 2011, became a NASDAQ listed company on
November 28, 2016. The Company specializes in transformational
micro-robotic medical technologies leveraging the natural and
artificial lumens within the human body. Microbot’s current
technological platforms, ViRobTM, TipCATTM and CardioSertTM, are
comprised of three highly advanced technologies, from which the
Company is currently developing its first product candidate: The
Self-Cleaning Shunt, or SCSTM, for the treatment of hydrocephalus
and Normal Pressure Hydrocephalus, or NPH. The Company also is
focused on the development of a Multi Generation Pipeline Portfolio
(MGPP) utilizing all technologies. Further information about
Microbot Medical is available at
http://www.microbotmedical.com.
The ViRobTM technology is a revolutionary
autonomous crawling micro-robot which can be controlled remotely or
within the body. Its miniature dimensions allow it to navigate and
crawl in different spaces within the human body, including blood
vessels, the digestive tract and the respiratory system. Its unique
structure gives it the ability to move in tight spaces and curved
passages as well as the ability to remain within the human body for
prolonged time. To learn more about ViRobTM please visit
http://www.microbotmedical.com/technology/virob/.
TipCATTM is a transformational self-propelled,
flexible, and semi-disposable locomotive device providing see &
treat capabilities within tubular lumens in the human body such as
the colon, blood vessels, and the urinary tract. Its
locomotion mechanism is perfectly suitable to navigate and crawl
through natural & artificial tubular lumens, applying the
minimal necessary pressure to achieve the adequate friction
required for gentle, fast, and safe advancement within the human
body. To learn more about TipCATTM, visit
http://www.microbotmedical.com/technology/tipcat/.
CardioSertTM technology contemplates a unique
combination of a guidewire and microcatheter, technologies that are
broadly used for endoluminal surgery. The CardioSertTM technology
features unique steering and stiffness control capabilities, and it
was originally developed to support interventional cardiologists in
crossing the most complex lesions called chronic total occlusion
(CTO) during percutaneous coronary intervention (PCI) procedures
and has the potential to be used in other spaces and applications,
such as peripheral intervention, neurosurgery and urology.
CardioSertTM was part of a technological incubator supported by the
Israel Innovation Authorities (formerly known as the Office of the
Chief Scientist, or OCS), and its device has successfully completed
pre-clinical testing.
Safe Harbor
Statements pertaining to future financial and/or
operating results, future growth in research, technology, clinical
development, and potential opportunities for Microbot Medical Inc.
and its subsidiaries, along with other statements about the future
expectations, beliefs, goals, plans, or prospects expressed by
management, constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and
the Federal securities laws.. Any statements that are not
historical fact (including, but not limited to statements that
contain words such as “will,” “believes,” “plans,” “anticipates,”
“expects” and “estimates”) should also be considered to be
forward-looking statements. Forward-looking statements involve
risks and uncertainties, including, without limitation, risks
inherent in the development and/or commercialization of potential
products, the outcome of its studies to evaluate the SCS and other
existing and future technologies, uncertainty in the results of
pre-clinical and clinical trials or regulatory pathways and
regulatory approvals, need and ability to obtain future capital,
and maintenance of intellectual property rights. Actual results may
differ materially from the results anticipated in these
forward-looking statements and as such should be evaluated together
with the many uncertainties that affect the businesses of Microbot
Medical Inc. particularly those mentioned in the cautionary
statements found in Microbot Medical Inc.’s filings with the
Securities and Exchange Commission. Microbot Medical disclaims any
intent or obligation to update these forward-looking
statements.
Investor Contact:
Michael PolyviouEVC
Groupmpolyviou@evcgroup.com732-933-2754
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