Business
Microbot Medical Leverages Recently Awarded Non-Dilutive Grant from the Israeli Government to Promote Marketing Activities Toward Commercialization of the LIBERTY® Robotic System
Engagement with Interventional Radiologists Reaches Highest Level Yet as Company Continues to Progress Through Regulatory and Clinical Phases; Company Seeking
About this update from Microbot Medical Inc.
[{"type":"text","content":"Engagement with Interventional Radiologists Reaches Highest Level Yet as Company Continues to Progress Through Regulatory and Clinical Phases; Company Seeking to Create Interest and Anticipation for When the System is Commercialized\nHINGHAM, Mass., March 02, 2023 (GLOBE NEWSWIRE) -- Microbot Medical Inc. (Nasdaq: MBOT), the developer of the LIBERTY® Robotic System, the first single-use endovascular robotic system, was recently awarded a grant from Israel’s Ministry of Economy to encourage the Company’s marketing activities and enhance the commercialization of the LIBERTY Robotic System in the US market, within the scope of its ‘Smart Money’ program. “We believe the non-dilutive grant from the Israeli government, beyond enhancing our existing marketing budget and enabling us to maintain a higher presence among our key constituents, validates our current strategy,” commented Rachel Vaknin, Chief Financial Officer. “The additional funds allow us to engage with key opinion leaders, hospitals and potential strategic partners in the U.S., at a time when it’s imperative that we increase our profile ahead of the regulatory and clinical phases. This is expected to allow us to seed the market and generate a high degree of market anticipation and excitement as we near the planned commercialization of the LIBERTY Robotic System.” The Smart Money program’s aim is to help Israeli companies expand their business to growing international markets (outside of Israel). The grant, which totaled 300,000 NIS, may be repaid via a royalty mechanism from future sales of the LIBERTY Robotic System. 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 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. Further information about Microbot Medical is available at http://www.microbotmedical.com. Safe Harbor Statements to future financial and/or operatin...