Full Press Release Details
Vicarious Surgical Announces Departure of Chief
WALTHAM, Mass.-- (BUSINESS WIRE) - December 6, 2024 - Vicarious
Surgical Inc. ("Vicarious Surgical" or the "Company") (NYSE: RBOT, RBOT WS), a next-generation robotics technology
company seeking to improve lives by transforming robotic surgery, today announced the pending departure of William Kelly, its Chief Financial
Officer (CFO), to pursue other career opportunities, after nearly four years of dedicated service with the Company.
Mr. Kelly has served as Vicarious Surgical's
CFO since January 2021. He will assist the Company to ensure minimal disruption and a successful transition of responsibilities prior
to his departure, which is slated for January 2, 2025.
"On behalf of the Company and Board, I want
to extend my sincerest gratitude to Bill for his significant contribution over the last few years," said Adam Sachs, Co-Founder
and Chief Executive Officer. "Bill has been an incredible asset to Vicarious Surgical, and we wish him all the best in his future
Mr. Kelly added "My tenure at Vicarious
Surgical has been a period of significant progress and accomplishment, both for the Company and for me personally. I am deeply grateful
for the opportunities I have been afforded and the collaborative spirit of the entire team. I depart with immense pride in our collective
achievements and unwavering confidence in the Company's continued success under its strong leadership."
The Company has initiated a CFO succession process
and will provide updates as appropriate.
About Vicarious Surgical
Founded in 2014, Vicarious Surgical is a next generation robotics company,
developing a unique disruptive technology with the multiple goals of substantially increasing the efficiency of surgical procedures, improving
patient outcomes, and reducing healthcare costs. The Company's novel surgical approach uses proprietary human-like surgical robots
to virtually transport surgeons inside the patient to perform minimally invasive surgery. The Company is led by an experienced team of
technologists, medical device professionals and physicians, and is backed by technology luminaries including Bill Gates, Vinod Khosla's
Khosla Ventures, Innovation Endeavors, Jerry Yang's AME Cloud Ventures, Sun Hung Kai & Co. Ltd and Philip Liang's E15
VC. The Company is headquartered in Waltham, Massachusetts. Learn more at www.vicarioussurgical.com.
Forward-Looking Statements
This press release includes "forward-looking
statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform
Act of 1995. The company's actual results may differ from its expectations, estimates, and projections and, consequently, you should
not rely on these forward-looking statements as predictions of future events. All statements other than statements of historical facts
contained herein are forward-looking statements that reflect the current beliefs and expectations of management. These forward-looking
statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in
the forward-looking statements. Most of these factors are outside Vicarious Surgical's control and are difficult to predict. Factors
that may cause such differences include, but are not limited to: the ability to maintain the listing of Vicarious Surgical's Class
A common stock on the New York Stock Exchange; the approval, commercialization and adoption of Vicarious Surgical's initial product
candidates and the success of its single-port surgical robot, called the Vicarious Surgical System, and any of its future product candidates
and service offerings; changes in applicable laws or regulations; the ability of Vicarious Surgical to raise financing in the future;
the success, cost and timing of Vicarious Surgical's product and service development activities; the potential attributes and benefits
of Vicarious Surgical's product candidates and services; Vicarious Surgical's ability to obtain and maintain regulatory approval
for the Vicarious Surgical System, and any related restrictions and limitations of any approved product; the size and duration of human
clinical trials for the Vicarious Surgical System; Vicarious Surgical's ability to identify, in-license or acquire additional technology;
Vicarious Surgical's ability to maintain its existing license, manufacture, supply and distribution agreements; Vicarious Surgical's
ability to compete with other companies currently marketing or engaged in the development of products and services that Vicarious Surgical
is currently marketing or developing; the size and growth potential of the markets for Vicarious Surgical's product candidates and
services, and its ability to serve those markets, either alone or in partnership with others; the pricing of Vicarious Surgical's
product candidates and services and reimbursement for medical procedures conducted using its product candidates and services; the company's
estimates regarding expenses, revenue, capital requirements and needs for additional financing; Vicarious Surgical's financial performance;
economic downturns, political and market conditions and their potential to adversely affect Vicarious Surgical's business, financial
condition and results of operations; Vicarious Surgical's intellectual property rights and its ability to protect or enforce those
rights, and the impact on its business, results and financial condition if it is unsuccessful in doing so; and other risks and uncertainties
indicated from time to time in Vicarious Surgical's filings with the SEC. Vicarious Surgical cautions that the foregoing list of
factors is not exclusive. The company cautions readers not to place undue reliance upon any forward-looking statements, which speak only
as of the date made. Vicarious Surgical does not undertake or accept any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances
on which any such statement is based.