January 11, 2021
Microbot Medical Inc. has concluded 2020 with the achievement of several operating and developmental milestones.
Microbot Medical believes it is well-positioned to leverage and capitalize upon this momentum through 2021, with plans to execute additional developmental, regulatory, and clinical goals.
Microbot Medical Key 2020 Operational and Product Achievements
- 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 physician.
- Initiated animal feasibility studies using the LIBERTY™ Robotic System. To date, the LIBERTY Robotic system met the required endpoints 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 19.
- 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 approval.
- 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.
- Microbot Medical strengthens the 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 2019.
- Enhanced thought leadership capabilities with the addition of new members to the Company’s Scientific Advisory Board (SAB).
Microbot Medical Anticipated 2021 Key Operational and Product Milestones
- Conclude animal feasibility studies on the LIBERTY Robotic System.
- Achieve design freeze for LIBERTY Robotic System by Q3 2021.
- 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 Q4 2021.
- 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.