Microbot Medical Inc. MBOT has received Institutional Review Board approval and entered into a Clinical Trial Agreement with Baptist Hospital of Miami. This agreement will involve the collaboration of Miami Cardiac & Vascular Institute and Miami Cancer Institute as part of the clinical trial for Microbot’s innovative LIBERTY Endovascular Robotic Surgical System. Dr. Ripal Gandhi, MD, FSVM, will serve as the principal investigator at Baptist Hospital of Miami.
Significance of LIBERTY
Per Microbot Medical, the inclusion of Baptist Hospital of Miami, one of the leading hospitals in the United States, in the clinical trial for Microbot Medical’s LIBERTY system signifies a pivotal step toward revolutionizing endovascular procedures. This collaboration is expected to accelerate this groundbreaking technology's development and potential approval. The partnership and the recent inclusion of Brigham and Women's Hospital highlight the growing interest and confidence in LIBERTY’s potential to confirm precision, safety and outcomes in endovascular surgery. Dr. Gandhi's participation underscores the clinical community's enthusiasm and commitment to advancing this innovative robotic system in a global atmosphere.
More on the News
Microbot Medical is developing its LIBERTY Robotic Surgical System for use in endovascular procedures. The device is currently in a pre-clinical stage and specializes in transformational micro-robotic technologies, which will likely help in improving clinical outcomes for patients and increasing accessibility using the natural and artificial lumens within the human body. The system will also help in eliminating the need for large, cumbersome and expensive capital equipment while reducing radiation exposure and physician strain related to surgical robotics that are being used in endovascular procedures currently.
The company has successfully completed pre-clinical trials on animals evaluating the system. In one study, three leading interventional radiologists successfully reached 48 animal targets using six LIBERTY Systems. In another study, radiologists performed 96 robotic navigations using the system. Currently, the company is actively progressing toward gaining approval for the LIBERTY system in the United States and Europe.
The FDA approved the company’s Investigational Device Exemption application for starting a pivotal human clinical trial in June. The company should have started audits to ensure its compliance with the Quality Management System requirements of the EU Medical Devices Regulation that will support its future CE Mark approval.
Industry Prospects
Per a report by Future Market Insights, the global robotic-assisted endovascular systems market was worth $94.0 million in 2023. It is anticipated to reach $214.7 million by 2033 at a CAGR of 8.6%.
The robust growth will be driven by the increasing adoption of advanced robotic-assisted endovascular systems that offer higher efficiency and precision during endovascular procedures. Also, the growing demand for innovative, minimally invasive surgical procedures that reduce patient trauma and recovery time will drive the market’s growth.Patient-centric care is a growing trend in healthcare. Robotic-assisted endovascular systems can contribute to this approach by offering improved patient outcomes, reduced complications, shorter hospital stays and faster recovery times. Emphasizing patient benefits and providing personalized, minimally invasive treatment options can create new opportunities for market growth.
Recent Developments
Last month,Microbot Medical announced that Brigham and Women’s Hospital (BWH) in Boston, MA, will participate as a clinical trial site for the pivotal human clinical trial of its LIBERTY Endovascular Robotic Surgical System. Dr. Dmitry Rabkin has been selected as the principal investigator. BWH has completed the site initiation visit and received a shipment of LIBERTY investigational units for the trial.
Price Performance
Shares of Microbot Medical have declined 36% so far this year against the industry's 3.2% rise. The S&P 500 has witnessed a 16.6% rise in the same time frame.
Zacks Investment Research
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Zacks Rank & Key Picks
Currently, Microbot Medical carries a Zacks Rank #4 (Sell).
Some top-ranked stocks in the broader medical space are DaVita Inc. DVA, Universal Health Services UHS and Ecolab Inc. ECL.
DaVita, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 13.6%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 29.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita’s shares have gained 43.4% compared with the industry’s 15.2% rise in the past year.
Universal Health Services, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 14.80%. UHS’s earnings surpassed estimates in each of the trailing four quarters, with the average being 8.12%.
Universal Health Services has gained 21.3% against the industry’s 20.4% decline in the past year.
Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 14.3%. ECL’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 1.3%.
Ecolab’s shares have rallied 31.3% against the industry’s 12.9% decline in the past year
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