Therapy Areas: Devices
Microbot Medical acquires assets and know-how from CardioSert
25 May 2018 -

Microbot Medical Inc (NASDAQ CM: MBOT) has completed its acquisition of novel patent-protected technology from CardioSert Ltd, the medical device company confirmed on Friday.

CardioSert's technology was originally developed to support interventional cardiologists in crossing the most complex lesions called chronic total occlusion (CTO) during percutaneous coronary intervention (PCI) procedures.

However, Microbot believes the technology has the potential to be used in other spaces and applications, such as peripheral intervention, neurosurgery and urology.

CardioSert's device has successfully completed pre-clinical testing.

The acquisition included R&D information, technical know-how and intellectual property.

Under the terms of the deal, Microbot agreed to pay 100,000 restricted shares of its common stock and USD250,000 in cash, plus potential additional milestone payments and earn-outs.

"The completion of this exciting and value-added acquisition, combined with our existing capabilities, global IP and recent pre-clinical results, is expected to allow us to deliver highly differentiated robotic products to address some of today's most unmet medical needs," said Harel Gadot, CEO, president and chairman.

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