Microbot Medical Inc (NASDAQ:MBOT) a medical device firm specializing in the development and design of innovative micro-robotic medical technologies, reported that the USPTO has released a Notice of Allowance for a major technology patent.
The buzz
Two of the inventors are the firm’s co-founders, Professor Moshe Shoham and Harel Gadot. Mr. Gadot is the President, Chairman and CEO of company. Professor Shoham is on the firm’s Board and also a part of the Scientific Advisory Board. He serves as the Head of the Robotics laboratory at the Technion, Israel Institute of Technology. Microbot reported that the patent rights are protected as a joint patent under a limited license deal the firm closed with the Technion.
Microbot’s patent covers methods and systems for decreasing venous stenosis linked with the development of hemodialysis shunts. As per the process, a clearing device is put via a first bore, whereas dialyzed blood returns into the blood vessel via a second bore. This clearing device can work to be a passive device put down in the blood vessel or an autonomous crawling device. The new patent offers an additional layer of cover to Microbot’s unique ViRob™ and TipCat™ platforms, moving beyond their existing IP protected applications.
Mr. Gadot added that they continue to focus on growing their unique intellectual property assets. The patent allowance released to Microbot by the USPTO protects company’s medical devices for the stoppage of shunt stenosis and will improve their future standing within the shunt industry.
They plan to continue to grow their IP assets as they grow their transformational micro-robotic know-how to diagnose and treat grave medical ailments as well as extend and enhance the quality of life for the people suffering from those ailments.
In the last trading session, the stock price of Microbot Medical declined over 7% to close at $6.30.
