P. (Laxmin) Laxminarain Appointed to Microbot Medical’s Board of Directors
December 12 2017 - 7:00AM
Microbot Medical Inc. (Nasdaq:MBOT), a medical device company
specializing in the design and development of transformational
micro-robotic medical technologies, today announced the appointment
of P. (Laxmin) Laxminarain to the Company's Board of
Directors. Mr. Laxminarain is a successful medical device
executive with over 30 years’ experience and proven track record,
most recently served as Worldwide President of Codman Neurosurgery
(a Johnson & Johnson company), which was acquired by Integra
LifeSciences Holdings Corporation in October 2017 for approximately
$1.045 billion.
Mr. Laxminarain first joined Johnson &
Johnson in 1986 where he held roles of increasing responsibility,
including President of Codman Neurosurgery from 2006 to 2017.
In addition, Mr. Laxminarain held senior medical device
positions in India, Singapore and South Korea. Prior to Johnson
& Johnson, he was a management consultant with AF Ferguson
& Co., an audit and management consultancy business in India
where he worked on strategy as well as execution related projects
in a variety of industries. Mr. Laxminarain received an MBA from
the Indian Institute of Management.
“In the same way Laxmin was instrumental in
value creation at Codman, I believe he can create value for
Microbot. Laxmin will be an invaluable resource for the Board
and the rest of the team as we build upon our core capabilities and
leverage them to reach our milestones and create value for our
shareholders,” commented Harel Gadot, Microbot’s Chief Executive
Officer, President and Chairman. “In addition, with his vast
experience in the neurosurgery space, we expect that he will
contribute to the success of our revolutionary self-cleaning shunt,
as well as potential future applications deriving from our
technologies.”
“The emergence of medical robotics is one of the
most promising areas in healthcare and it offers tremendous growth
opportunities, especially in areas such as neurosurgery,” commented
Mr. Laxminarain. “Microbot Medical has unique technologies,
and is developing novel robotic products. I am excited and looking
forward to be part of the company and contribute to execute its
business plans.”
Mr. Laxminarain will fill the seat previously
held by Prof. Moshe Shoham, who has left the Board of Directors to
focus more of his time on the scientific side of the
Company.
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
platforms, ViRob and TipCAT, are comprised of two highly advanced
micro-robotic technologies, from which the Company is currently
developing its first two product candidates: the Self Cleaning
Shunt, or SCS, for the treatment of hydrocephalus and Normal
Pressure Hydrocephalus, or NPH; and a self-propelling,
semi-disposable endoscope that is being developed initially for use
in colonoscopy procedures. Further information about Microbot
Medical is available at http://www.microbotmedical.com.
The ViRob technology is a revolutionary
autonomous crawling micro-robot which is designed to 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 is designed to give 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 ViRob please visit
http://www.microbotmedical.com/technology/virob/.
TipCAT is a transformational self-propelled,
flexible, and semi-disposable endoscope 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 designed 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
TipCAT visit http://www.microbotmedical.com/technology/tipcat/.
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. 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, uncertainty in the results of clinical trials
or 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 Contacts:
Analysts and Institutional InvestorsMichael
PolyviouEVC Groupmpolyviou@evcgroup.com646-445-4800
Individual InvestorsJeremy RoeIntegra
Consulting Group llcjeremy@integracg.net(925) 262-8305
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