Microbot Medical Exercises Option to Acquire Novel Technology from CardioSert

Microbot Medical (NASDAQ:MBOT), a medical device company specializing in the design and development of transformational micro-robotic medical technologies, announced that its wholly-owned subsidiary has exercised the option to acquire a novel patent-protected technology from CardioSert.

As quoted in the press release:

“The acquisition of this novel technology, which is complementary to our existing micro-robotic technologies, strengthens our IP portfolio and creates additional barriers to entry while increasing our addressable markets,” commented Harel Gadot, Chief Executive Officer, President and Chairman.  “Along with the recent non-dilutive grant secured from the European Commission, the recent rehire of Simon Sharon, and with the anticipated data readout from two ongoing studies in the next couple of months of our first product, the SCS, I am confident we can maintain our momentum and deliver on our core promises to increase shareholder value.”

Dr. Eyal Morag, Chairman, Department of Radiology and Nuclear Medicine at Assuta Ashdod Medical Center (Israel), commented that, “Based on my experience evaluating CardioSert’s unique technology, it has the potential capabilities to make endo-luminal interventions easier and faster.”  “I believe that future products by Microbot, which will include CardioSert’s technology, will have the potential to assist in more consistent, shorter and hence more cost-effective procedures.”

Click here to read the full press release.