Welcome to our dedicated page for Microbot Medical news (Ticker: MBOT), a resource for investors and traders seeking the latest updates and insights on Microbot Medical stock.
Microbot Medical, Inc. (NASDAQ: MBOT) is a pioneering pre-clinical medical device company focused on developing groundbreaking micro-robotic medical technologies. Established with the vision to transform minimally invasive surgeries—a fast-growing sector estimated to be close to $20 billion by 2015—Microbot Medical aims to provide cutting-edge micro-invasive technologies that assist physicians in targeting disease sites with unmatched precision. The company's innovative platforms, such as LIBERTY and the Self-Cleaning Shunt (SCS), are designed to improve surgical outcomes and the quality of life for millions of patients globally.
One of Microbot Medical's core technologies, the Virob platform, is an autonomous advancing micro-robot (AAMR) less than 1mm in diameter. This micro-robot can advance forward and backward autonomously, providing precise navigation through the body. Similarly, the LIBERTY Endovascular Robotic Surgical System aims to revolutionize endovascular procedures by eliminating the need for bulky and expensive equipment while reducing radiation exposure and physician strain.
Microbot Medical has been achieving significant milestones, including positive results from its pivotal GLP pre-clinical study and its recent Investigational Device Exemption (IDE) application to the FDA. These advancements pave the way for the company's first human clinical trials. Furthermore, the company has secured both domestic and global patents, fortifying its product portfolio and creating significant barriers to entry for competitors.
Microbot Medical is actively engaging in pre-commercial activities and strategic partnerships to ensure efficient commercialization channels for the LIBERTY system once it receives regulatory approval. The company is committed to advancing its technologies and aims to integrate future capabilities such as remote operations, imaging integration, and AI functionalities.
Despite challenges such as the COVID-19 pandemic and recent geopolitical events in Israel, Microbot Medical continues to meet its planned timelines and milestones. The company’s operations in Israel, the USA, and other parts of the globe remain uninterrupted, and it believes it will achieve regulatory and commercial milestones as scheduled.
For further information about Microbot Medical, please visit www.microbotmedical.com.
Microbot Medical Inc. (Nasdaq: MBOT) has completed a registered direct offering with an institutional investor, raising approximately $5 million. The offering involved 1,022,495 common shares sold at $4.89 each, including pre-funded warrants. Concurrently, the company issued unregistered series A and B preferred investment options. The funds will support the development and commercialization of the LIBERTY® Robotic System, among other uses. H.C. Wainwright & Co. acted as the placement agent for these offerings.
Microbot Medical (Nasdaq: MBOT) announced a definitive agreement to sell 1,022,495 shares of common stock at $4.89 per share, generating approximately $5 million in gross proceeds. The offering includes pre-funded warrants for 240,000 shares and options for the purchase of additional shares at $4.64 each. The net proceeds will fund the development of the LIBERTY® Robotic System and other corporate purposes. The transaction is slated to close around October 25, 2022, subject to customary conditions. H.C. Wainwright & Co. is the exclusive placement agent.
Microbot Medical (Nasdaq: MBOT) has submitted a follow-up pre-submission package for its LIBERTY® Robotic System, aiming for alignment with the FDA as it prepares for an Investigational Device Exemption (IDE) submission and a first-in-human clinical trial in 2023. The company has reported constructive engagement with the FDA, which is seen as encouraging for their upcoming regulatory steps. The LIBERTY system is part of Microbot's multi-generation portfolio focused on advanced micro-robotic technologies.
Microbot Medical Inc. (Nasdaq: MBOT) has completed a significant GLP animal study for its LIBERTY® Robotic System, the first disposable robotic system aimed at endovascular procedures. Conducted at a top MedTech research lab, the study achieved a successful navigation rate of 92% for the robotic system, while demonstrating no evidence of acute vascular injury. Physicians graded the LIBERTY system highly for usability, indicating a quick setup and easy learning curve. However, the LIBERTY Robotic System is still investigational and has not yet received FDA clearance for use.
Microbot Medical Inc. (Nasdaq: MBOT) has suspended the development of its Self-Cleaning Shunt (SCS) project to focus on the LIBERTY® Robotic System. This strategic shift follows positive developments, including the acquisition of endovascular assets from Nitiloop Ltd. and plans for a First-in-Human trial. The company will explore opportunities for the SCS assets, such as licensing or joint ventures. Microbot is on track with key milestones for the LIBERTY system through 2023, aiming to enhance shareholder value.
Microbot Medical (Nasdaq: MBOT) announced a new patent allowance from the Israeli Patent Office for its LIBERTY® Robotic System, specifically covering its roll assembly mechanism. This expansion of the intellectual property portfolio underscores the company's commitment to developing innovative micro-robotic technologies aimed at improving patient care accessibility. CEO Harel Gadot emphasized the importance of these capabilities in realizing their vision of disposable robotics that enhance healthcare worldwide.
Microbot Medical (NASDAQ: MBOT) has acquired the assets of Nitiloop Ltd., which includes the FDA-cleared NovaCross™ family of microcatheters. This acquisition aims to enhance the LIBERTY® Robotic System's capabilities, promoting robotics in endovascular procedures. The NovaCross™ devices are designed for navigating chronic total occlusions (CTO) and will potentially standardize procedures while increasing access to robotic technology globally. The move opens a significant growth opportunity in the $500 million CTO market, aligning with Microbot's strategic mission for global accessibility in medical technologies.
Microbot Medical Inc. (Nasdaq: MBOT) announced the appointment of Dr. David C. Madoff to its Scientific Advisory Board. Dr. Madoff, a renowned interventional radiologist from Yale School of Medicine, brings extensive clinical research experience that is expected to enhance the company's efforts in advancing the LIBERTY® Robotic System through regulatory phases. His expertise in interventional oncology and numerous publications position him to significantly contribute to Microbot's mission of improving clinical outcomes and accessibility in healthcare.
Microbot Medical (NASDAQ: MBOT) has appointed Dr. Ripal T. Gandhi to its Scientific Advisory Board. Dr. Gandhi, an interventional oncologist with expertise in minimally invasive treatments, aims to enhance the development of Microbot's LIBERTY Robotic System. His extensive experience includes over 100 robotic cases and innovation in interventional robotics, providing valuable insights to the team. This recruitment aligns with Microbot's strategy to strengthen its advisory network and advance its micro-robotic technologies, aimed at improving patient outcomes.
Microbot Medical Inc. (Nasdaq: MBOT) has announced that renowned interventional radiologist Vincent Vidal, M.D., PhD, has joined its Scientific Advisory Board. Dr. Vidal, recognized for his expertise in embolization techniques, aims to leverage his experience to advance the LIBERTY® Robotic System. His previous successful pre-clinical trial for the system has inspired this collaboration, which seeks to facilitate regulatory processes and global commercialization. CEO Harel Gadot expressed confidence in Dr. Vidal's contributions towards achieving clinical and financial goals with the system.
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