Monogram Orthopedics delivers first surgical robot
– First sale to major global distributor represents major revenue milestone and paves way for broader commercialization –
AUSTIN, TX / ACCESS WIRE / November 28, 2023 / Monogram Orthopedics Inc. (NASDAQ:MGRM) (“Monogram” or the “Company”), a medical technology company focused on reconstructive joint procedures and surgical robotics, has delivered its first surgical robot to one of the world’s largest global robotics distributors.
“Delivering our first robot and achieving our first commercial revenues validates our technology and represents a critical milestone for our strategic roadmap,” said Ben Sexson, Chief Executive Officer of Monogram Orthopedics. “Our system performs at an extremely high level. We now look forward to seeing how our robot competes and scales in the real world. We hope that the mBôs robot will contribute to improving the standard of care for orthopedic patients worldwide.”
Monogram aims to improve the standard of care in orthopedic joint replacement surgery with advanced, next-generation active surgical robotics. About 88% of knee replacement surgeries (the company’s first target group) are still performed manually. The mBôs robot aims to combine safety, ease of use, streamlined costs, novel implant design, broad clinical functionality and speed to help drive the next wave of robot adoption in orthopedics.
About Monogram Orthopedics
Monogram Orthopedics (NASDAQ: MGRM) is developing a product solution architecture with the long-term goal of enabling patient-optimized orthopedic implants at scale by coupling 3D printing and robotics with advanced pre-operative imaging. The company has a robot prototype that can autonomously perform optimized paths for high-precision insertion of implants into synthetic bone specimens. Monogram plans to manufacture and market robotic surgical equipment and related software, orthopedic implants, tissue ablation devices, navigation consumables and other miscellaneous instruments required for reconstructive joint replacement procedures. The company has not yet filed a 510(k) premarket notification or obtained 510(k) approvals for its robotic products. Marketing these products requires FDA approval, and the Company has not obtained FDA approval for any of its robotic products, and it cannot estimate the timing or guarantee the ability to obtain such approvals.
Monogram Orthopedics is working to improve the way orthopedic surgery is performed. Our system is being developed to combine personalized knee implants with precision robotic surgical assistants to hopefully provide patients with a more appropriate knee replacement with minimally invasive surgery. One hundred thousand knee replacements that fail each year in a $19.4 billion market represent a huge opportunity for us.
For more information, visit www.monogramorthopedics.com.
Forward-Looking Statements
This press release may contain “forward-looking statements.” To the extent that the information presented in this presentation discusses financial projections, information or expectations about Monogram Orthopedics Inc.’s business plans, results of operations, products or markets, or otherwise makes statements regarding future events, such statements are forward-looking. . Such forward-looking statements can be identified by the use of words such as “should”, “may”, “intend”, “anticipate”, “believe”, “estimate”, “project”, “predict”, “expect” , ”planning” and ”making proposals”.
Although Monogram Orthopedics Inc. believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider all cautionary statements and other disclosures, including the statements under the heading “Risk Factors” and elsewhere in the offering statement filed with the SEC. Forward-looking statements speak only as of the date of the document in which they appear, and Monogram Orthopedics Inc. assumes no obligation to update any forward-looking statements, except as may be required by law.
Investor Relations
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
MGRM@mzgroup.us
SOURCE: MONOGRAM ORTHOPEDICS INC
