Microbot Medical Inc., developer of the innovative LIBERTY Endovascular Robotic System, have just announced that the United States Patent and Trademark Office (USPTO) has granted the Company a patent, covering a modular robotic surgical system which includes a base and a plurality of tool-receiver units arranged as separate units and independently and interchangeably attachable to the base.
The Company considers the issuance of this patent to be significant, as it will potentially enable LIBERTY to be adapted in the future for a wider range of endovascular procedures, which would increase substantially the Total Addressable Market (TAM) the Company is aiming to penetrate. This patent expands the Company’s intellectual property protection in the United States for its LIBERTY system portfolio, which now includes 12 patents granted globally and 57 patent applications pending.
The patent supports innovation and customization for different clinical needs that would allow the Company to address other indications and significantly increase its potential customer base. The Company now has the flexibility and protection to continue building additional capabilities and features to enhance the LIBERTY System, with the potential to eventually expand well beyond the estimated 2.5 million peripheral endovascular procedures performed in the U.S. annually.
“We believe LIBERTY is one of the most advanced and distinctive robotic systems in the world, being the first fully disposable robotic system along with other unique features such as its modular capabilities,” commented Harel Gadot, Chair, CEO & President.
“This patent recognizes yet another layer of our differentiation and could expand our reach to over 6 million annual endovascular procedures in the U.S. alone. Our near-term focus remains on the peripheral market and ensuring our commercial readiness plans in the U.S. are progressing as we await the FDA’s decision.”
LIBERTY is an investigational device pending FDA 510(k) clearance and is currently not available for sale in the U.S. Microbot Medical Inc. (NASDAQ: MBOT) is a pre-commercial stage medical technology company with a vision to redefine endovascular robotics and improve the quality of care for millions of patients and providers globally.
The company has developed the world’s first single-use, fully disposable endovascular robotic system, which aims to eliminate traditional barriers to accessing advanced robotic systems.
