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Microbot Shares Soar on Claims It Has Created the World's First Fully Disposable Endovascular Robotic System

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Shares of Microbot Medical traded 70% higher after the company reported that in January 2020 it will unveil the world's first fully disposable robotic system for endovascular procedures. The firm claims that its breakthrough technology features compact design, remote operation capabilities and an integrated "One & Done" tool to democratize endovascular procedures.

Medical device company Microbot Medical Inc. (MBOT:NASDAQ), which specializes in the research, design, development and commercialization of transformational micro-robotic medical technologies, yesterday announced the revealing of LIBERTYTM, what it calls "the world's first fully disposable robotic system for use in neurovascular, cardiovascular and peripheral vascular procedures."

According to the report, "the LIBERTY robotic system features a unique compact design with the capability to be operated remotely, reduce radiation exposure and physical strain to the physician, as well as the potential to eliminate the use of multiple consumables through its "One & Done" capabilities."

Microbot's CEO, President and Chairman Harel Gadot commented, "LIBERTY is set to revolutionize the way surgical robotics are being used in endovascular procedures, by eliminating the need for capital equipment, reducing radiation exposure and aiming to streamline the use of disposables during these complex procedures...In addition, with LIBERTY's remote operation as well as its "One & Done" capabilities, we believe it has the potential to be the first system to democratize endovascular interventional procedures."

Dr. Eyal Morag, an ABR certified interventional radiologist and chairman of radiology and nuclear medicine at Assuta Ashdod Medical Center in Israel, added, "I believe LIBERTY will be welcomed by the interventional community due to its clinical and technical benefits in various subspecialties, such as neurovascular, cardiovascular and peripheral vascular interventions...The system set up is easy and straightforward, and it offers intuitive remote operation capabilities. These features are designed to reduce radiation exposure and eliminate physical strain on the physicians. Lastly, I believe it will democratize vascular procedures by shortening the physician's learning curve."

The company advised that Dr. Morag will be performing a live demonstration highlighting the unique capabilities of LIBERTY during Microbot's LIBERTY unveiling and demonstration event at 7:00 a.m. (PT) on Monday, January 13, 2020. The firm noted that the full presentation of the unveiling and demonstration will be made available in the 'Investors' section of the company's website at www.microbotmedical.com.

Microbot Medical was founded in 2010 and is based in Hingham, Mass. The firm indicated that it was established in order to increase accessibility and improve clinical outcomes for patients through the use of micro-robotic technologies. The company describes its business as "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." The firm states that its current proprietary technological platforms provide the foundation for the development of a multi-generation pipeline portfolio.

Microbot Medical started the day with a market capitalization of about $43.6 million with approximately 4.31 million shares outstanding. MBOT shares opened higher today at $11.79 (+$1.78, +17.78%) over Monday's closing price of $10.01. MBOT shares reached a new 52-week intraday high price of $20.01 this morning. Since the open, the stock has traded between $11.79 and $20.15 per share on very high volume and is presently trading at $17.25 (+$7.14, +70.62%).

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