Full Press Release Details
Medical Strengthens LIBERTY Robotic System Portfolio with Acquisition of Novel FDA-Cleared Devices
with the LIBERTY Robotic System & One & Done Technology May Enable Future Acceleration of Robotic
Adoption; Represents an Additional Growth Opportunity by Accessing the $500 Million Chronic Total Occlusion (CTO) Market1
through the Expansion of Robotic Ecosystem for Endovascular Procedures
Mass., October 7, 2022 - Microbot Medical Inc. (Nasdaq: MBOT) announced today, as a continuation of its recent regulatory and
future commercialization activities, together with its strategic mission to enable accessibility to multiple endovascular procedures
globally, that it has acquired the assets of privately-held Nitiloop Ltd. The acquisition includes the NovaCross family of Microcatheters
(NovaCross CTO, NovaCross Xtreme and NovaCross BTK), a U.S. Food and Drug Administration (FDA) cleared family of medical devices intended
to facilitate the intraluminal placement of conventional and steerable guidewires beyond stenotic lesions, including chronic total occlusions
(CTO), prior to PTCA or stent intervention.
NovaCross Microcatheter family, as a standalone device or when potentially integrated with the Company's One & Done
technology, is expected to create a collection of procedure related kits that are customized for the LIBERTY Robotic System. The
LIBERTY Robotic System is the first-ever disposable endovascular robotic system with remote operation capabilities
and small footprint designed to reduce the requirement of capital investment and Cath Lab space. The Company expects this integration
to help revolutionize and standardize the way endovascular procedures are conducted, while eliminating barriers to access and increasing
the adoption rate of robotics in the endovascular space.
integration of technologies, such as the NovaCross Microcatheter family, fits well with the ecosystem strategy of the Company
by allowing it to be competitive in the robotic as well as the instruments market for endovascular procedures, with the aim to integrate
imaging and big data capabilities in the future. The Company believes the achievement of the LIBERTY Robotic System ecosystem will allow
Microbot Medical to advance the adoption of robotics in the endovascular space, globally.
addition of Nitiloop's innovative, FDA cleared microcatheter family complements the unique robotic ecosystem we are establishing
for endovascular procedures. This is expected to further assist us in executing our strategic plan of becoming a complete procedure-based
company, allowing Microbot Medical to be competitive across the entire endovascular robotic space," commented Harel Gadot, Chairman,
President and CEO. "We believe the NovaCross family of products, once integrated into our existing technology platforms
with the LIBERTY Robotic System and our future One & Done technology, will potentially standardize endovascular procedures globally
and may finally allow accessibility to robotic technology for the millions that are in dire need of life-saving treatment."
The Insight Partners market research study titled Chronic total occlusion Market'
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).
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
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 potential
products, including LIBERTY and NovaCross Microcatheter family, the outcome of its studies to evaluate the Company's other
existing and future technologies, any failure or inability to recruit physicians and clinicians to serve as primary investigators to
conduct the Company's Self-Cleaning Shunt's early feasibility study which could adversely affect or delay such study, uncertainty
in the results of pre-clinical and clinical trials or regulatory pathways and regulatory approvals, the failure or inability to integrate
the NovaCross Microcatheter family, 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.