06.05.23
Microbot Medical’s endovascular surgical robotic system LIBERTY has received approximately $440,00 in funding from the Israel Innovation Authority (IIA). With the grant Microbot Medical will be able to further develop LIBERTY’s manufacturing process.
This is the first approval for a grant Mircobot has received for the “transition from developing manufacturing” program. The grant outlines that Microbot is required to pay future sales royalties from 3% to 5% and interest from the LIBERTY product.
In a press release CEO Harel Gadot said, “This non-dilutive grant will facilitate our efforts to establish the manufacturing infrastructure capability for the LIBERTY system. While we will work with manufacturing partners to scale production, the sophisticated and crucial core technology and elements of the manufacturing process are expected to be handled internally. The grant will help us further establish certain advanced manufacturing capabilities inhouse to assure the highest quality, efficiency, and reliability by reducing logistical barriers and to maintain a competitive advantage.”
The LIBERTY Robotic Surgical System is the first ever fully disposable robotic system designed to improve endovascular procedures. More than 100 catheterizations have been completed during multiple pre-clinical studies. LIBERTY also achieved as 95% success rate in meeting pre-determined vascular targets.
This is the first approval for a grant Mircobot has received for the “transition from developing manufacturing” program. The grant outlines that Microbot is required to pay future sales royalties from 3% to 5% and interest from the LIBERTY product.
In a press release CEO Harel Gadot said, “This non-dilutive grant will facilitate our efforts to establish the manufacturing infrastructure capability for the LIBERTY system. While we will work with manufacturing partners to scale production, the sophisticated and crucial core technology and elements of the manufacturing process are expected to be handled internally. The grant will help us further establish certain advanced manufacturing capabilities inhouse to assure the highest quality, efficiency, and reliability by reducing logistical barriers and to maintain a competitive advantage.”
The LIBERTY Robotic Surgical System is the first ever fully disposable robotic system designed to improve endovascular procedures. More than 100 catheterizations have been completed during multiple pre-clinical studies. LIBERTY also achieved as 95% success rate in meeting pre-determined vascular targets.
