Microbot Medical Inc MBOT is soaring Monday morning after the company announced a strategic collaboration with Stryker Corporation to develop the LIBERTY robotic system for neurovascular applications.
Microbot Medical will continue to develop the LIBERTY Robotic System independently for use in peripheral and coronary procedures.
"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," said Harel Gadot, chairman, president and CEO of Microbot Medical.
Gadot continued, "I believe the similarities in our innovation culture, as well as our complementary core capabilities, will allow us to establish a truly differentiated solution that will benefit all stakeholders and accelerate our goal of changing the way robotic surgery is viewed and adopted."
Microbot Medical is a pre-clinical medical device company. It specializes in research, design and development of next generation micro-robotics assisted medical technologies.
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MBOT Price Action: Microbot Medical has traded as high as $10.69 and as low as $4.31 over a 52-week period.
The stock was up 67.20% at $9.07 at time of publication.
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