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Microbot Medical Shares Status Following Recent Geopolitical Events

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Microbot Medical Inc. (MBOT) remains resilient amidst recent geopolitical events in Israel, with all regulatory, clinical, operational, and pre-commercial activities progressing as planned. The company is confident in achieving regulatory and commercial milestones on schedule, including FDA IDE submission, ISO 13485 certification audits, and partnerships for future capabilities of the LIBERTY® Endovascular Robotic Surgical System.
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The update from Microbot Medical suggests the company is mitigating the impact of geopolitical tensions in Israel, a factor which can often lead to market volatility and affect investor confidence. The ability to maintain regulatory, clinical, operational and pre-commercial activities according to plan is indicative of robust risk management and operational efficiency. Particularly noteworthy is the company's progress with the FDA regarding their IDE submission and the internal audit for ISO 13485 certification, which are essential steps towards entering clinical trials in humans and achieving CE approval in Europe, respectively.

Investors typically look for signs of a company's resilience to external shocks and its capacity to meet projected timelines. The affirmation of these aspects by Microbot Medical's CEO can be seen as a positive signal, potentially easing concerns about the company's execution abilities during periods of uncertainty. However, maintaining inventory levels for the LIBERTY Endovascular Robotic Surgical System could imply carrying costs that need to be balanced against the expected future revenue from commercialization, which is a factor to monitor going forward.

The strategic partnerships and advanced discussions referenced in Microbot Medical's announcement could serve as a significant catalyst for growth if the company succeeds in integrating remote operations, imaging and AI capabilities into the LIBERTY System. Such integrations would keep it competitive in the dynamic and innovation-driven medical devices market. Aligning with strategic and clinical partners early in the process could facilitate smoother entry into the market and could enhance adoption rates, both critical factors for success post-regulatory approval.

Moreover, pre-commercial discussions in the USA and globally are key for establishing efficient commercialization channels. Effective commercialization strategies often hinge upon a deep understanding of different market environments and tailored approaches to meet diverse regulatory and consumer demands. As investors, one would consider such preparatory measures as a positive step towards ensuring a successful product launch and sustained market penetration.

Microbot Medical's focus on the LIBERTY Endovascular Robotic Surgical System represents a commitment to advancing minimally invasive surgical techniques, a field that is gaining traction in the medical community. The indication that the company has not only preserved its project timelines but is also expanding its technological capabilities suggests an aggressive approach to innovation. Potential capabilities like AI integration point towards a forward-thinking strategy, likely aimed at increasing the precision and safety of surgical procedures.

From a clinical perspective, the company's unmistakable progress, including the successful completion of GLP studies, is impressive. Such studies are pivotal for providing pre-clinical data that regulators require for device approval. Investors should note that the company's trajectory, assuming successful completion of upcoming trials and regulatory reviews, could position it as a serious contender in the field of robotic surgical systems, a market with high barriers to entry but significant growth opportunities.

All Regulatory, Clinical, Operational and Pre-Commercial Activities Continue to Stay on Track Despite the On-going Situation in Israel

Company Believes that Both Regulatory and Commercial Milestones to be Achieved in Accordance with the Company’s Current Timeline

BRAINTREE, Mass., April 15, 2024 (GLOBE NEWSWIRE) -- Microbot Medical Inc. (Nasdaq: MBOT), developer of the LIBERTY® Endovascular Robotic Surgical System, today shared that despite the unprecedented events in Israel yesterday, which are a continuation to the situation in Israel since October 7th, 2023, the Company’s activities both in Israel, USA and other parts of the globe continue without interruption and it believes that current planned timelines and milestones will be met.

From a regulatory perspective, the Company has been working with the FDA on its recent IDE submission and believes that those efforts will result in commencing its pivotal study in humans as planned. In addition, as part of its efforts to gain regulatory approval in Europe, the Company successfully completed an internal audit in preparation for ISO 13485 certification audits, which are expected this year, to ensure the Company continues to meet its timeline toward CE approval.

From an operational perspective, the Company has established sufficient inventory of the LIBERTY® Endovascular Robotic Surgical System to support its pivotal study and other ongoing activities.

In addition to focusing on gaining regulatory approval for the current LIBERTY® Endovascular Robotic Surgical System in both the USA and Europe, the Company already executed an initial phase partnership with one clinical partner and is in advanced discussions with additional clinical partners to develop the future potential capabilities of the LIBERTY® Endovascular Robotic Surgical System, such as remote operations, imaging integration and AI capabilities.

With its pre-commercial activities, the Company is already in discussions with multiple strategic partners, both in the USA and globally, to allow the Company to evaluate the most efficient commercialization channels once the product would be approved for sale in the USA and globally.

“Overcoming multiple challenges over the past 4 years, starting with COVID-19 and continuing with the war in Israel since October 7th which reached new heights yesterday, we have been successful in establishing our infrastructure and meeting meaningful milestones such as the successful completion of the GLP study and the IDE submission to the FDA,” said Harel Gadot, CEO, President and Chairman of Microbot Medical. “With the infrastructure we have both in Israel and the USA, together with the milestones we already achieved and believe that we will achieve over the next few months, we are confident we can continue to execute against our regulatory milestones and to position us to commercialize the LIBERTY® System in both the USA and Europe as planned.”

About Microbot Medical
Microbot Medical Inc. (NASDAQ: MBOT) is a pre-clinical medical device company that specializes in transformational micro-robotic technologies, with the goals of improving clinical outcomes for patients and increasing accessibility through the natural and artificial lumens within the human body.

The LIBERTY® Endovascular Robotic Surgical System aims to improve the way surgical robotics are being used in endovascular procedures today, by eliminating the need for large, cumbersome, and expensive capital equipment, while reducing radiation exposure and physician strain. The Company believes the LIBERTY® Endovascular Robotic Surgical System’s remote operation has the potential to be the first system to democratize endovascular interventional procedures.

Further information about Microbot Medical is available at http://www.microbotmedical.com.

Safe Harbor

Statements 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, risks inherent in the development and/or commercialization of the LIBERTY® Endovascular Robotic Surgical System, the outcome of its studies to evaluate the LIBERTY® Endovascular Robotic Surgical System, uncertainty in the results of pre-clinical and clinical trials or regulatory pathways and regulatory approvals, including whether the Company succeeds in obtaining FDA approval to commence its pivotal study in humans, any failure or inability to recruit physicians and clinicians to serve as primary investigators to conduct regulatory studies which could adversely affect or delay such studies, , disruptions resulting from new and ongoing hostilities between Israel and the Palestinians and other neighboring countries, any lingering 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.

Investor Contact:

Michal Efraty
+972-(0)52-3044404
IR@microbotmedical.com


FAQ

What is the ticker symbol for Microbot Medical Inc.?

The ticker symbol for Microbot Medical Inc. is MBOT.

What recent events have affected Microbot Medical Inc.?

Recent geopolitical events in Israel have impacted Microbot Medical Inc.

What regulatory activities are ongoing for Microbot Medical Inc.?

Microbot Medical Inc. is working on FDA IDE submission and ISO 13485 certification audits.

What partnerships has Microbot Medical Inc. established?

Microbot Medical Inc. has partnered with clinical partners for future capabilities of the LIBERTY® Endovascular Robotic Surgical System.

What commercialization channels is Microbot Medical Inc. evaluating?

Microbot Medical Inc. is in discussions with strategic partners globally to evaluate commercialization channels.

Microbot Medical Inc.

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About MBOT

microbot medical was founded with the vision of pioneering micro invasive surgery, transforming one of the biggest trends in healthcare - minimally invasive surgery (estimated to be close to $20b by 2015); the company will provide transformational micro invasive technologies with the accuracy of robots and automated instruments to assist physicians in targeting the disease site with exquisite precision. microbot will solve one of the largest unmet needs in the medical field, where morbidity as a result of surgery is more frequently due to trauma involved in gaining access to the area to perform the intended procedure rather than from the procedure itself. through its unique platforms, microbot will reach multiple surgical spaces, capitalizing on the fact that minimally invasive techniques have been applied to most of the surgical specialties. microbot’s virob platform is an autonomous advancing micro robot (aamr), less then 1mm in diameter, which has the ability to advance (forward/bac