Microbot Appoints Codman Neurosurgery President to its Board of Directors

Microbot Medical Inc., a medical device company specializing in the design and development of micro-robotic medical technologies, has appointed P. (Laxmin) Laxminarain to the company’s Board of Directors. Laxminarain is a medical device executive with over 30 years of experience and proven track record; he most recently served as worldwide president of Codman Neurosurgery (a Johnson & Johnson company), which was acquired by Integra LifeSciences Holdings Corporation in October 2017 for approximately $1.045 billion.
 
Laxminarain first joined Johnson & Johnson in 1986 where he held roles of increasing responsibility, including president of Codman Neurosurgery from 2006 to 2017. In addition, Laxminarain held senior medical device positions in India, Singapore and South Korea. Prior to Johnson & Johnson, he was a management consultant with AF Ferguson & Co., an audit and management consultancy business in India, where he worked on strategy as well as execution related projects in a variety of industries. Laxminarain received an MBA from the Indian Institute of Management.
 
“In the same way Laxmin was instrumental in value creation at Codman, I believe he can create value for Microbot. Laxmin will be an invaluable resource for the board and the rest of the team as we build upon our core capabilities and leverage them to reach our milestones and create value for our shareholders,” said Harel Gadot, Microbot’s CEO, president and chairman. “In addition, with his vast experience in the neurosurgery space, we expect that he will contribute to the success of our revolutionary self-cleaning shunt, as well as potential future applications deriving from our technologies.”
 
“The emergence of medical robotics is one of the most promising areas in healthcare and it offers tremendous growth opportunities, especially in areas such as neurosurgery,” noted Laxminarain.  “Microbot Medical has unique technologies, and is developing novel robotic products. I am excited and looking forward to be part of the company and contribute to execute its business plans.”
 
Laxminarain will fill the seat previously held by Prof. Moshe Shoham, who has left the Board of Directors to focus more of his time on the scientific side of the company. 
 
Microbot, which was founded in 2010 and commenced operations in 2011, became a NASDAQ listed company on Nov. 28, 2016. The company specializes in transformational micro-robotic medical technologies leveraging the natural and artificial lumens within the human body. Microbot’s current platforms, ViRob and TipCAT, are comprised of two highly advanced micro-robotic technologies, from which the company is currently developing its first two product candidates: the Self Cleaning Shunt, or SCS, for the treatment of hydrocephalus and Normal Pressure Hydrocephalus, or NPH; and a self-propelling, semi-disposable endoscope that is being developed initially for use in colonoscopy procedures.
 
The ViRob technology is a revolutionary autonomous crawling micro-robot which is designed to be controlled remotely or within the body. Its miniature dimensions allow it to navigate and crawl in different spaces within the human body, including blood vessels, the digestive tract and the respiratory system. Its structure is designed to give it the ability to move in tight spaces and curved passages as well as the ability to remain within the human body for prolonged time. 
 
TipCAT is a transformational self-propelled, flexible, and semi-disposable endoscope providing see and treat capabilities within tubular lumens in the human body such as the colon, blood vessels, and the urinary tract. Its locomotion mechanism is designed to navigate and crawl through natural and artificial tubular lumens, applying the minimal necessary pressure to achieve the adequate friction required for gentle, fast, and safe advancement within the human body.