Microbot Medical Surges On Stryker Collaboration

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Microbot Medical Surges On Stryker Collaboration
Credit: © Reuters.

By Sam Boughedda

Investing.com — Microbot Medical Inc (NASDAQ: MBOT ), the medical device firm, is up nearly 70% to $9.20 Monday morning on news it has inked a deal with Stryker Corporation (NYSE: SYK ), a medical technology company.

Massachusetts-based Microbot will collaborate with Stryker's Neurovascular unit to combine its neurovascular instruments with Microbot's LIBERTY Robotic System to create what they described as the world's first dedicated robotic procedural kits for use in neurovascular procedures.

Stryker shares are little moved following the news, up around 0.1%.

“We have already ensured that the LIBERTY Robotic System has a strong and sustainable competitive advantage, and the collaboration with Stryker will allow us to further expand in the neurovascular space,” commented Harel Gadot, Chairman, CEO and President of Microbot Medical.

Gadot added that the deal will also allow them to accelerate their goal of "changing the way robotic surgery is viewed and adopted.”

Microbot said last week that it secured a third U.S. patent for the LIBERTY Robotic System. The company also told investors that it is searching for clinical sites to commence a human clinical trial. 

They will continue developing the LIBERTY Robotic System independently for peripheral and coronary procedures. 

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