Microbot Medical Inc (NASDAQ:MBOT) Receives Notice Of Allowance For Shunt Stenosis Prevention System Patent Application From Canadian Intellectual Property Office
The Canadian Intellectual Property Office sent a Notice of Allowance to Microbot Medical Inc (NASDAQ:MBOT) with regards to a patent application for its new system aimed at preventing Shunt stenosis.
The Notice of Allowance by the Canadian Intellectual Property Office was a noteworthy score for the company because it lays the groundwork for Microbot Medical to make a home run in preventing shunt stenosis. It thus represents an important step forward for the company as it continues to expand its portfolio. The recent announcement brings the firm’s total allowed patents to 32 while 19 other global patent applications are still pending.
“As we continue to make progress on our primary clinical objectives, we have also excelled at expanding Microbot’s innovative IP portfolio, globally,” stated Microbot Medical CEO, Harel Gadot.
The CEO also noted that the Canadian patent allowance highlights another milestone for the company as part of its goal of generating value that strengthens its position as a global micro-robotics leader. The recently issued patent covers a system that is aimed at preventing stenosis that comes from using hemodialysis shunts.
The system features the insertion of a clearing device through a first bore while a second bore is used to return dialyzed blood back into the blood vessels. The clearing device can be used as a crawling device that is autonomous or one that is pushed down a blood vessel by blood flow. An example of a crawling device made by Microbot Medical is the TipCAT™ device which uses numerous chambers that can be inflated sequentially.
Microbot Medical focuses on transforming medical technologies by creating microbots take advantage of the human body’s natural lumens. One of the company’s main pipeline products is a trademarked Self-Cleaning Shunt for treating hydrocephalus as well as Normal Pressure Hydrocephalus.
European Patent Office issued Notice of Intention for guidewire technology patent
A few weeks prior to the patent approval by the Canadian Intellectual Property Office, Microbot Medical announced that it received the European Patent Office’s Notice of Intention for allowance of a patent it had applied. The patent application was for an adjustable guidewire that is designed for procedures involving percutaneous coronary artery disease. The two newly allowed patent further reinforce Microbot Medical’s strategy of expanding its extensive global patent portfolio which it also plans to continue investing in. The medical technology firm believes that the strategy will allow it to compete more effectively in the market through sustainable technologies.
Gadot pointed out that it was encouraging that global regulators are recognizing the technology that the company has been developing and they have also put in place measures to protect the innovative technology. He also noted that the existing barriers to market entry also provide protection for the company’s technology as it monetizes is creations to generate value for investors.
The Microbot CEO also noted that the technologies, as well as the patent approvals, present strong opportunities for the company in an age of rapidly growing technology. They will also help the company to be at the helm of medical advancements achieved through micro-robot technology.