Posts tagged robotics
Profound Medical to expand collaboration with Royal Philips’, acquire Sonalleve unit

Profound Medical (OTCQX:PRFMF; TSXV:PRN) has agreed to expand an existing collaboration with Royal Philips (NYSE:PHG; AEX:PHIA) and acquire Philips’ Sonalleve MR-HIFU business, establishing Profound as a market leader in magnetic resonance (MR) ultrasound ablation therapy.

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StemCells and Microbot Medical to merge

StemCells (NASDAQ:STEM) and closely-held Microbot Medical of Israel have entered into a definitive merger agreement, with plans to pursue the development of robotics-based medical devices for the treatment of cerebrospinal fluid and gastrointestinal disorders, as well as other conditions.

“This transaction concludes an extensive search for strategic alternatives conducted by StemCells since we failed to see robust clinical results in our Phase 2 clinical study of human neural stem cells in chronic spinal cord injury,” Ian Massey, CEO of StemCells, said in a statement.

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Piper starts ReWalk Robotics at overweight

Piper Jaffray initiated coverage of ReWalk Robotics (NASDAQ:RWLK) with an “overweight” rating and price target of $10. The stock closed at $7.02 on Thursday.

“While the exoskeleton market for personal use is in what we would categorize as the market creation phase, which carries a higher degree of risk and volatility, we believe ReWalk has the first mover advantage, best technology and a solid business plan to further penetrate this large, relatively untapped market,” writes analyst Matt O’Brien.

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TransEnterix updates SurgiBot FDA submission

TransEnterix (NYSE MKT:TRXC) has received an update from the FDA on the status of the 510(k) submission for its robotics SurgiBot system to improve minimally invasive surgery.

The FDA advised the company that it has not yet concluded the review of the 510(k) submission and provided an update on the status of the filing.

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