Microbot Medical Inc. (NASDAQ:MBOT) Flying High On Strengthening IP Portfolio
Microbot’s Medical Intellectual Patent portfolio is poised to receive a significant boost on the company receiving a Notice of Allowance from the Canadian Intellectual Property Office. The Notice Allowance concerns the company’s device for preventing stunt stenosis.
Strengthening IP Portfolio
The new patent details a proprietary system for reducing venous stenosis associated with hemodialysis. The patented system details a clearing device that is inserted and exerted as blood is being returned into a blood vessel using a second bore.
“As we continue to make progress on our primary clinical objectives, we have also excelled at expanding Microbot’s innovative IP portfolio, globally,” commented Harel Gadot, CEO, President, and Chairman. “This latest allowance in Canada represents another significant step toward achieving this goal and creating value that cements our positions as an emerging global leader in micro-robotics.
The Canadian Notice of allowance brings to 32 the total number of issued and allowed patents that Microbot Medical has secured. The company has also made 19 patent applications worldwide pending approval.
In March, the Medical Technologies Company received official communication from the European Patent Office. The notice covers a guidewire for use in percutaneous coronary artery disease procedures.
“We believe these significant barriers to entry provide us with protections as we continue to monetize our investments and maximize shareholder value. Our strategic decision to acquire CardioSert™ and its adjustable guidewire technology is bearing fruit and represents a major opportunity for us as we are aiming to obtain a leadership position in the micro-robotic endo-luminal space “added Mr. Gadot
The fact that regulatory bodies are increasingly issuing Microbot Medical with patents provides validation to the technologies the company is working on, for enhancing healthcare service delivery and operations.
Patent filings align with the company’s growth strategy of investing and expanding the IP portfolio. With the fillings, the company should be able to maintain a sustainable and competitive advantage for its technology platforms.
Patent approvals should make it easy for Microbot Medical to license its technologies to other companies and in the process generate significant value on their usage. Patent approvals also provide the much-needed protections that the company can leverage to monetize the investments and generate significant shareholder value in the process.
Microbot Technology has raised as much as $25 million since 2017. With a strong financial base, the company remains well financed to pursue its 2019 milestones. For starters, the company intends to complete a pivotal pre-clinical study evaluating the safety and efficacy of its self-cleaning shunt in partnership with the Washington University.
Plans are also underway to finalize FDA pre-submission for the company’s Self-Cleaning Shunt in the second half of the year.
Investors have reacted to the strengthening of Microbot Medical IP portfolio by pushing the stock up the charts. Microbot Medical is already up by more than 300% for the year after succumbing to short selling pressure in 2018. With the stock resorting to trading sideways in recent weeks, positive news should strengthen market sentiments ideal for fuelling further upside action.