Microbot Medical Inc (NASDAQ:MBOT) announced that the United States Patent and Trademark Office (“USPTO”) has granted patent number 9,675,748, which covers a device for the prevention of shunt stenosis. The Company also filed with the USPTO a Continuation Application to further establish and enhance the Company’s innovative solutions for preventing shunt stenosis.
“Expanding and protecting our innovative technology platforms is one of the main focus areas of the Company, especially as we expect significant milestones in the coming months for our initial Self Cleaning Shunt™ product,” commented Harel Gadot, CEO, President and Chairman. “Our innovative technology platforms, which we believe are well ahead of the micro robotic curve, position the Company to address multi-billion market opportunities. The addition of the proceeds from our recently completed equity offering gives us the resources to execute upon these opportunities and strengthen our unique core capabilities to implement other market-penetrating growth prospects”.
The patent covers systems and methods for reducing venous stenosis associated with the use of hemodialysis shunts. A clearing device is inserted through a first bore, while dialyzed blood is being returned into the blood vessel through a second bore. The clearing device may be a passive device moved down the blood vessel by the blood flow or an autonomous crawling device, such as Microbot’s TipCat™ device, which is based on a series of sequentially inflatable chambers. This new patent provides an additional layer of protection to Microbot’s innovative TipCat™ and ViRob™ platforms, extending beyond their current IP protected applications.
The USPTO initially issued the Notice of Allowance for this patent application on February 15, 2017, as announced on February 22, 2017.
Shares of Microbot Medical are currently trading at $2.20, up $0.10 or 4.50%. MBOT has a 1-year high of $26.91 and a 1-year low of $1.28. The stock’s 50-day moving average is $3.82 and its 200-day moving average is $5.44.
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