Microbot Medical Appoints New Sales VP and Raises Executive Pay to Accelerate Commercialization of Vascular Interventional Robotics

Mar 06, 2025 11:18 CST Updated 11:18

Microbot Medical

Transformative Microbot Medical Device Developer

Inari Medical

Cardiovascular Disease Treatment Device Developer

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On March 4, 2025, a developer of vascular interventional surgical robotsMicrobot Medical(NASDAQ: MBOT) announced the appointment of Paul Mullen, former sales executive of Inari Medical, as Vice President of Sales.

# Appointment Details

Paul Mullen, an expert with extensive experience in the field of endovascular medical device sales, will take full responsibility for the company’s commercial sales operations in the United States. He will report directly to Harel Gadot, the company’s CEO, Chairman, and President. His primary responsibilities include developing sales strategies and establishing sales infrastructure to ensure a smooth market launch following FDA approval of the product. The company reiterated that it expects the product to receive FDA approval by the second quarter of 2025.

▲Paul Mullen (Image source: LinkedIn)

Before joining Microbot Medical, Mullen served asInari MedicalSales Director.The company was acquired by Stryker Corporation for $4.94 billion on February 19, 2025, focusing on endovascular therapeutic products for deep vein thrombosis (DVT) and pulmonary embolism (PE). During his tenure, Mullen successfully launched several breakthrough devices, including the first FDA-approved thrombectomy device for the treatment of pulmonary embolism. Additionally, he was responsible for launching two new devices for the treatment of chronic venous disease, which affects over one million patients in the United States.

Prior to this, Mullen worked at Philips Volcano, a company specializing in image-guided therapy products. During his tenure, he successfully launched several new technologies and drove the sales of coronary and peripheral artery atherectomy product lines. Earlier, he served as the Southeast Regional Sales Manager at LeMaitre Vascular, a company primarily offering surgical treatment devices for peripheral vascular diseases. The sales team he led mainly targeted vascular surgeons, hospital management, and value analysis committees to promote the market adoption of the products.

# Relevant Evaluation

Harel Gadot, CEO, Chairman, and President of Microbot Medical, stated: "The appointment of Paul is a key step in further enhancing our commercial infrastructure ahead of our anticipated FDA approval in the second quarter of 2025. He brings extensive experience in market development and product promotion within the endovascular medical field, achieving remarkable success. His proven track record and exceptional leadership make him the ideal leader for our U.S. sales team. I look forward to his significant contributions in shaping sales strategies and achieving business objectives."

# Executive Compensation Adjustment

In February 2025, Microbot Medical announced adjustments to the compensation of several senior executives. Specifically, it includes:

Chief Technology Officer Simon Sharon's annual salary increased to960,000 New Shekels (approximately1.93 millionRMB)。
CFO Rachel Vaknin's annual salary increased to720,000 New Shekels (approximately1.44 millionRMB)，while the monthly travel allowance has been increased from 1,000 New Shekels to 5,000 New Shekels.
Chief Medical Officer Juan Diaz-Cartelle's potential annual bonus cap has been increased from 30% to 35% of his base salary.

In January 2025, the company granted a special bonus of $150,000 to CEO Harel Gadot. The specific criteria or performance indicators for the bonus were not disclosed in the document.

Executive Changes and Compensation Adjustments Reflect Microbot Medical's Strategic Layout in the Process of Commercial Transformation, Especially in Promoting LIBERTY^®Important initiatives in the commercialization of surgical robot systems.

# About Microbot Medical, Inc.

Microbot Medical Inc. (NASDAQ: MBOT) isA medical device company focused on developing micro-robotic technology in the field of minimally invasive surgeryThe company was founded in 2010 by Harel Gadot, Professor Moshe Shoham, and Yossi Bornstein, and is headquartered in Massachusetts, USA. It is dedicated to improving patient clinical outcomes through micro-robotic technology and enhancing the accessibility of surgeries performed through natural and artificial lumens in the human body.

On June 3, 2024, Microbot Medical announced that it had received approval from the U.S. Food and Drug Administration (FDA) to begin its pivotal human clinical trial, which is part of its Investigational Device Exemption (IDE) application. The study will be conducted in the United States, and the company has signed a clinical trial services agreement with a leading academic medical center and is reaching out to other leading centers to participate in the trial. Additionally, the company is completing the biocompatibility testing required for its IDE application.

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