Microbot Medical Announces Outcome of Annual Meeting of Shareholders
September 13 2019 - 7:30AM
Having successfully executed a number of significant
milestones over the past twelve months, Microbot Medical Inc.
(NASDAQ: MBOT) held its 2019 annual shareholders' meeting on
September 10, 2019, during which the shareholders re-elected three
directors and approved all of the proposals.
“We have executed many objectives over the past
year and at this time our goal remains to achieve our other
targeted milestones, including the FDA pre-submission for our
Self-Cleaning Shunt (SCSTM) by the end of this year,” commented
Harel Gadot, President, CEO and Chairman. “I would like to thank
our shareholders for their continued support over the past year and
I look forward to updating you on our continued progress at next
year’s annual shareholders' meeting.”
At the annual meeting, shareholders approved the
reduction of outstanding shares from 221,000,000 to 61,000,000,
including a reduction in the number of authorized shares of common
stock from 220,000,000 to 60,000,000. Additionally, Harel Gadot,
Yoav Waizer, and Martin Madden were re-elected as Class I directors
to serve until the 2022 Annual Meeting of Shareholders, and
Brightman Almagor Zohar & Co., a Member of Deloitte Touche
Tohmatsu Limited, was ratified as the Company’s independent
registered public accounting firm for the year ending December 31,
2019. The final voting tallies from this year's annual
meeting was included in the Company’s Form 8-K, which was filed
with the Securities and Exchange Commission on September 11,
2019.
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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