Microbot Medical Inc. MBOT recently announced a Phase 2 collaboration agreement with Corewell Health. Under the agreement, both companies will work together to develop the capabilities to perform simulated cardiovascular interventional procedures with LIBERTY — an endovascular robotic surgical system.

The agreement followed the successful completion of Phase 1, which showed LIBERTY’s technical capabilities and outlined potential future applications in various endovascular interventions. Phase 1 evaluated the viability of LIBERTY as a remote telesurgery platform.

For investors’ note, LIBERTY, an endovascular robotic surgical system, is designed to improve the way surgical robotics are being used in endovascular procedures by eliminating the need for large, cumbersome and expensive capital equipment, while reducing radiation exposure and physician strain.

The latest partnership marks the continuation of Mirobot and Corewell Health's collaboration to advance remote telesurgery for endovascular procedures.

More on the News

Under the Phase 2 collaboration, two facilities within the Corewell Health system will be in use. Incorporation of telesurgery capabilities is an important part of Microbot’s long-term strategy for LIBERTY.

The project is led by Ryan Madder, M.D., section chief of Interventional Cardiology and director of the Cardiac Cath Lab at Corewell Health in West Michigan.

After the completion of Phase 1, Dr. Madder and colleagues published a manuscript in the Journal of the American College of Cardiology. The title of the journal is “Cardiovascular Interventions, highlighting the Technical Success of Coronary Guidewire and Stent Delivery Using a Novel Miniaturized Robotic System in a Pre-Clinical Study.”

Industry Prospects

Per a Future Market Insights report, the robotic-assisted endovascular systems market size is expected to surpass $214.7 million by 2033, at a CAGR of 8.6%. The market growth is influenced by the increasing need for cutting-edge treatment alternatives due to the rise of cardiovascular illnesses, peripheral artery diseases and other vascular disorders. Also, the growing demand for innovative, minimally invasive surgical procedures that reduce patient trauma and recovery time drives the market’s growth.

Looking at the market potential, Microbot Medical’s partnership with Corewell Health is perfectly timed.

 

Image Source: Zacks Investment Research

Other Recent Developments

Earlier this month, the company entered an agreement with Emory University. Under the terms of the agreement, Emory University will evaluate the future autonomous capabilities of the LIBERTY system.