MBOT stock rose 75% in early trading on December 27, 2021, after the company announced a deal with Stryker.
Microbot Medical Announces Strategic Collaboration with Stryker Corporation to Develop the LIBERTY® Robotic System for Neurovascular Applications
On December 27, 2021, Microbot Medical Inc. (Nasdaq: MBOT) announced that it has entered into a strategic collaboration agreement with Stryker, a leading global medical technology company. The company will collaborate with Stryker’s Neurovascular division to integrate its neurovascular instruments with Microbot’s LIBERTY Robotic System to develop the world’s first dedicated robotic procedural kits for use in certain neurovascular procedures.
“We have already ensured that the LIBERTY Robotic System has a strong and sustainable competitive advantage, and the collaboration with Stryker will allow us to further expand in the neurovascular space,” commented Harel Gadot, Chairman, CEO and President of Microbot Medical. “I believe the similarities in our innovation culture, as well as our complimentary core capabilities, will allow us to establish a truly differentiated solution that will benefit all stakeholders and accelerate our goal of changing the way robotic surgery is viewed and adopted.”
The company will continue to develop the LIBERTY Robotic System independently for use in peripheral and coronary procedures. The animal feasibility studies to date support the company’s assertion that it will potentially allow physicians to safely and efficiently conduct remote catheter-based vascular procedures, and reduce the risk for radiation exposure, physical strain on the user and Hospital Acquired Infections (HAIs), without the need for cumbersome and expensive capital equipment.
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 Portfolio (MGPP).
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.
Microbot Medical secures third patent for LIBERTY robotic system in the U.S.
On December 23, 2021, Microbot Medical announced that the United States Patent and Trademark Office has issued a Notice of Allowance for a third patent application covering the Company’s LIBERTY Robotic System. The Company has secured all three U.S. patents during 2021. Globally, the Company now has 47 patents issued/allowed and 26 pending patent applications and is continuously submitting applications to protect its Intellectual Property. The allowed claims provide protection for embodiments of LIBERTY as a compact robotic device for driving movement of two or more elongate surgical tools, the device having motors and tool actuation assemblies encased within the same device housing.
“2021 has been an extremely successful year for our LIBERTY Robotic System – key patents and development progress leading to the recently announced design freeze – so we remain bullish on our future prospects and maintaining the positive momentum,” commented Harel Gadot, CEO, President and Chairman. “The IP and R&D teams are accomplishing meaningful milestones, which gives us greater confidence that we will continue to perform at a high level and execute the clinical and operating objectives we have planned throughout 2022.”
Microbot Medical initiates search for clinical sites for Liberty Robotic System
On December 22, 2021, Microbot Medical announced that it has and will continue to implement key initiatives that will prepare the Liberty Robotic System for commercialization. In conjunction with recently announced design freeze, Eyal Morag, Microbot’s chief medical officer, traveled to the United States to establish a clinical infrastructure with multiple sites and physicians for the commencement of a human clinical trial, which is expected to commence in the second half of 2022.
“Our actions reflect an inflection point in LIBERTY’s® developmental pathway and it is critical that we align our interests to ensure we successfully execute the value-enhancing catalysts in 2022, including the FDA pre-submission and the human clinical trial expected in the second half of 2022,” commented Dr. Eyal Morag, Microbot’s Chief Medical Officer. “My primary goal over the next few months is to leverage our resources and to educate the market on the clinical and economic benefits of the LIBERTY Robotic System to ensure future success in commercialization.”
Microbot Medical Achieves Design Freeze of the LIBERTY® Robotic System; Meets Previously Stated Milestone Timeline
On December 15, 2021, Microbot Medical Inc. (Nasdaq: MBOT) achieved the design freeze objective for the LIBERTY® Robotic System. This milestone demonstrates the continued progress towards the commercialization of the world’s first fully disposable robotic system. The Company’s ability to reach this milestone within the previously stated timeframe reflects the tireless efforts of the Company’s engineering team, along with data compiled from the numerous feasibility animal studies and physician feedback. With the design freeze, in accordance with the Company’s previously provided timeline, the next meaningful milestone is the filing of the pre-submission with the U.S. Food and Drug Administration (FDA) during the first quarter of 2022.
“This critical milestone brings us one step closer to our ultimate goal of commercializing the LIBERTY Robotic System, which has the potential to change the way surgical robotics are viewed, from large capital equipment that burden the healthcare system to a disposable and integrated system in the treatment flow,” commented Harel Gadot, Chairman, CEO and President. “Meeting this meaningful milestone, within the timeframe we previously provided, gives us the confidence we will continue in our path toward commercialization. I want to commend our engineering team for their ingenuity and dedication to executing this milestone on time, as well as the valuable input and partnership by our Scientific Advisory Board (SAB). We are now positioned to pursue additional near-term objectives, including the FDA pre-submission, and securing clinical sites to support any regulatory requirements.”
📽 Microbot Medical on CNN[embedyt] https://www.youtube.com/watch?v=pMsfpb8L-Y0[/embedyt]
📈 MBOT Stock Technical Analysis
MBOT is currently trading in the upper part of its 52-week range. The S&P500 Index however is currently trading near a new high, so MBOT is lagging the market slightly. Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry. There is a support zone ranging from 7.33 to 7.39. This zone is formed by a combination of multiple trend lines in the daily time frame. The technical rating of MBOT is bad and it also does not present a quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when MBOT stock is a good long entry.