Microbot Medical recently awarded grant from Israel’s Ministry of Economy

Microbot Medical was recently awarded a grant from Israel’s Ministry of Economy to encourage the Company’s marketing activities and enhance the commercialization of the LIBERTY Robotic System in the US market, within the scope of its ‘Smart Money’ program. "We believe the non-dilutive grant from the Israeli government, beyond enhancing our existing marketing budget and enabling us to maintain a higher presence among our key constituents, validates our current strategy," commented Rachel Vaknin, Chief Financial Officer. "The additional funds allow us to engage with key opinion leaders, hospitals and potential strategic partners in the U.S., at a time when it’s imperative that we increase our profile ahead of the regulatory and clinical phases. This is expected to allow us to seed the market and generate a high degree of market anticipation and excitement as we near the planned commercialization of the LIBERTY Robotic System." The grant, which totaled 300,000 NIS, may be repaid via a royalty mechanism from future sales of the LIBERTY Robotic System.