Microbot Medical Demonstrates Significant Progress in 2020; Outlines Anticipated Milestones for 2021
Microbot Medical Inc. (Nasdaq CM: MBOT) has concluded 2020 with the
achievement of several operating and developmental milestones. The
Company believes it is well positioned to leverage and capitalize
upon this momentum through 2021, with plans to execute additional
developmental, regulatory and clinical goals.
Key 2020 Operational and Product
- Officially unveiled the LIBERTY™ Robotic System, the
world’s first fully disposable surgical robotic system, which
features a unique compact design with the capability to be operated
remotely, reduce radiation exposure and physical strain to the
- Initiated animal feasibility studies using the
LIBERTY™ Robotic System. To date, the LIBERTY Robotic system
met the required end points with no intraoperative adverse events.
The results support the Company’s objectives to allow physicians to
remotely conduct catheter-based procedures from outside procedure
rooms, avoiding radiation exposure, physical strain and the risk of
cross contamination from infectious pathogens, such as COVID
- Held a pre-submission meeting with the U.S. Food and Drug
Administration (FDA) to apply for an Early Feasibility Study (EFS)
for the Self-Cleaning Shunt (SCS).
- Expanded IP Portfolio with Global Patent Allowances resulting
in a total of 40 patents granted and 23 patent applications pending
- Bolstered management team with Dr. Eyal Morag as Chief Medical
Officer, to lead development and execution of clinical strategy for
the Company’s technology platforms, including the Self-Cleaning
Shunt (SCS) and LIBERTY Robotic System, as well as its future
pipeline. Dr. Morag had been a member of the Company’s Scientific
Advisory Board since November 2017.
- Strengthened Board of Directors with the additions of Eileen
Stockburger and Tal Wenderow.
- Eileen Stockburger is an experienced executive
and consultant with extensive expertise in strategizing, managing
and closing sizable, complex worldwide mergers and acquisitions,
licensing agreements and divestitures, as well as expertise in
business development, strategic planning and finance.
- Tal Wenderow is an expert medical device and
robotics executive with a proven track record in small and mid-size
companies. He co-founded Corindus Vascular Robotics, a
robotic-assisted vascular interventions company, and contributed to
the company’s success, leading to its $1.1
billion acquisition by Siemens Healthineers AG in October
- Enhanced thought leadership capabilities with the addition of
new members to the Company’s Scientific Advisory Board (SAB).
Anticipated 2021 Key Operational and
- Conclude animal feasibility studies on the LIBERTY Robotic
- Achieve design freeze for LIBERTY Robotic System by Q3
- Initiate pivotal animal study for the LIBERTY Robotic system in
the second half of 2021.
- Finalize FDA pre-submission for the LIBERTY Robotic System by
- Conclude EFS pre-submission in regards to the SCS with the FDA
by end of Q1 2021.
- Continue to explore M&A opportunities that will enhance the
Company’s assets and core capabilities.
- Expand and protect the Company’s global IP portfolio in global
jurisdictions, which creates significant barriers to entry.
- Continue to recruit medical pioneers and thought leaders to the
Company’s senior leadership, Board of Directors and SAB.
About Microbot Medical
Microbot Medical Inc. (NASDAQ: MBOT) is a
pre-clinical medical device company that specializes in
transformational micro-robotic technologies, focused primarily on
both natural and artificial lumens within the human body.
Microbot’s current proprietary technological platforms provide the
foundation for the development of a Multi Generation Pipeline
Microbot Medical was founded in 2010 by Harel
Gadot, Prof. Moshe Shoham, and Yossi Bornstein with the goals of
improving clinical outcomes for patients and increasing
accessibility through the use of micro-robotic technologies.
Further information about Microbot Medical is available at
Statements pertaining to the registered direct
offering, timing, the amount and anticipated use of proceeds and
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, market conditions and
the satisfaction of customary closing conditions, risks inherent in
the development and/or commercialization of potential products,
including LIBERTY and SCS, the outcome of its studies to evaluate
LIBERTY, SCS and other existing and future technologies,
uncertainty in the results of pre-clinical and clinical trials or
regulatory pathways and regulatory approvals, uncertainty resulting
from the COVID-19 pandemic, need and ability to obtain future
capital, and maintenance of intellectual property rights.
Additional information on risks facing Microbot Medical can be
found under the heading “Risk Factors” in Microbot Medical’s
periodic reports filed with the Securities and Exchange Commission
(SEC), which are available on the SEC’s web site at www.sec.gov.
Microbot Medical disclaims any intent or obligation to update these
forward-looking statements, except as required by law.
Michael Polyviou EVC Group firstname.lastname@example.org
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