Microbot Medical Receives A Non-Dilutive $440,000 Grant From The Israel Innovation Authority Supporting The Development Of The Manufacturing Process For Its Endovascular Surgical Robotic System
Portfolio Pulse from Happy Mohamed
Microbot Medical Inc. (NASDAQ:MBOT) has received a $440,000 grant from the Israel Innovation Authority to support the development of the manufacturing process for its LIBERTY Robotic Surgical System. This is the first time Microbot has received approval for a grant for 'transition from development to manufacturing' program.

June 02, 2023 | 12:18 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Microbot Medical receives a $440,000 grant from the Israel Innovation Authority to support the development of the manufacturing process for its LIBERTY Robotic Surgical System.
The grant from the Israel Innovation Authority is a positive development for Microbot Medical as it provides non-dilutive funding to support the manufacturing process development for its LIBERTY Robotic Surgical System. This is the first time Microbot has received approval for a grant for 'transition from development to manufacturing' program, which reflects the progress the company has made in its regulatory and commercialization activities. The grant will help Microbot establish advanced manufacturing capabilities in-house, ensuring high quality, efficiency, and reliability, and maintaining a competitive advantage. This news is likely to have a positive short-term impact on Microbot's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100