AiM Medical Robotics Announces Changes to Executive Team and Participation in LSI Emerging Medtech Summit

-- Gregory Fischer, Ph.D., Co-Founder of AiM Medical Robotics, Co-Inventor of MRI-compatible surgical robot, and former Chief Scientific Advisor, appointed as new CEO --

-- Former CEO, Bob Cathcart, appointed as Executive Chairman to Board of Directors --

-- AiM Medical Robotics to participate in panel discussion entitled "Beyond General Surgery: The Next Frontiers in Medical Robotics" at LSI Emerging Medtech Summit on March 22, 2023 at 12:45 PM PT --

WORCESTER, Mass., March 8, 2023 /PRNewswire/ -- AiM Medical Robotics (the "Company" or "AiM Medical Robotics" or "AiM"), a developer of MRI-compatible intraoperative robotics for neurosurgery and other applications, today announced changes to its executive team. Gregory Fischer, Ph.D., has been named the Company's new Chief Executive Officer, and the Company's former CEO, Robert (Bob) Cathcart, has been named Executive Chairman of the Company's Board of Directors. 

Dr. Fischer is a founder of AiM Medical Robotics and inventor of the unique technology used in the Company's MRI-compatible surgical robot. Since its founding, he has acted as AiM's Chief Scientific Advisor and has been actively involved in the development of the Company's technology. Dr. Fischer has been a pioneer in Medical Robotics for 20 years, and has extensive expertise in MRI-compatible components and systems with over 130 peer-reviewed publications, including more than 40 journal manuscripts and book chapters related to image-guided surgical robotics. Having received his PhD in Mechanical Engineering from Johns Hopkins University in 2008, Dr. Fischer is a Professor of Robotics Engineering at Worcester Polytechnic Institute ("WPI"). In addition, he is the Founder of the Massachusetts state-supported PracticePoint medtech accelerator, a state-of-the-art healthcare development and testing facility for surgical robotics, comprising a 3T MRI and operating room dedicated to engineering research and development. AiM is a Platinum member of PracticePoint giving the Company full access to these resources and is headquartered on-site.

Dr. Fischer has been Head of the Automation and Interventional Medicine Robotics Research Laboratory at WPI since 2008. In this capacity, he has been a principal investigator on over $10 million in non-dilutive grant funding, including multiple peer-reviewed NIH grants upon which AiM's MRI-compatible neurosurgery robot and other development platforms are based. This technology is exclusively licensed by AiM Medical Robotics which is producing a surgical robot capable of robotically aligning, inserting, and manipulating neurosurgery instruments inside the bore of an MRI scanner while imaging. The portable system can be readily setup in any diagnostic or interventional MRI, or used as a robotic platform in a traditional OR-based neurosurgery setting. The unveiling of the working prototype was announced in August 2022, and a video demonstration can be viewed on the AiM Medical Robotics website.

"I am highly enthusiastic about kicking off fast and strong to ramp up our technical developments, and achieve substantial milestones this year, which is why I will be scaling back my role at WPI to work full-time as CEO of AiM Medical Robotics," said Dr. Fischer. "I am also thrilled to continue working with Bob Cathcart in his new role as Executive Chairman of our Board, where his expertise in business development will continue to play a vital role in the Company's success."

"We look forward to leveraging Dr. Fischer's substantial experience in MRI-guided interventions to continue developing a unique and world-class system that pushes the limits for what can be achieved in neurosurgery," said Bob Cathcart. "I look forward to continuing to work with him and the rest of the team to improve outcomes for patients undergoing neurosurgery while focusing on other business development opportunities."

In addition, AiM Medical Robotics also announced today that it will be attending the Life Science Intelligence (LSI) Emerging Medtech Summit in Dana Point, California from March 20-23, 2023. Dr. Fischer will be participating in a panel discussion entitled "Beyond General Surgery: The Next Frontiers in Medical Robotics" on March 22, 2023 at 12:45 p.m. PT. A replay of the panel discussion will be archived on AiM's website in the "News and Media" section following the event.

About AiM Medical Robotics

AiM Medical Robotics is a privately held medical device company based in Worcester, MA. It is focused on the development of MRI-compatible advanced robotics that are precision-focused, portable, and can be readily used with any MRI scanner. Follow AiM at www.aimmedrobotics.com and on LinkedIn. 

Forward-Looking Statement

This press release includes forward-looking statements based upon AiM's current expectations which may constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995 and other federal securities laws, and are subject to substantial risks, uncertainties and assumptions. These statements concern AiM's business strategies; the timing of regulatory submissions; the ability to obtain and maintain regulatory approvals of AiM's products; market acceptance of AiM's products; AiM's intellectual property; AiM's reliance on third party organizations; AiM's competitive position; AiM's industry environment; AiM's anticipated financial and operating results, including anticipated sources of revenues; AiM's assumptions regarding the size of the available market, benefits of AiM's products, product pricing and timing of product launches; management's expectation with respect to future acquisitions; statements regarding AiM's goals, intentions, plans and expectations, including the introduction of new products and markets; and AiM's cash needs and financing plans. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. You should not place undue reliance on these forward-looking statements, which include words such as "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" or similar terms, variations of such terms or the negative of those terms. Although AiM believes that the expectations reflected in the forward-looking statements are reasonable, AiM cannot guarantee such outcomes. AiM may not realize its expectations, and its beliefs may not prove correct. Actual results may differ materially from those indicated by these forward-looking statements as a result of various factors. All such statements speak only as of the date of this press release. Consequently, forward-looking statements should be regarded solely as AiM's current plans, estimates, and beliefs. AiM cannot guarantee future results, events, levels of activity, performance or achievements. AiM does not undertake and specifically declines any obligation to update or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by applicable law.

Contacts:

Gregory Fischer, Ph.D.
Chief Executive Officer
AiM Medical Robotics, Inc.
(617) 203-5560
[email protected]

Investors:

Doug Nissinoff
Investor Relations
Renegade BioConsulting, LLC
(954) 204-6745
[email protected]

SOURCE AiM Medical Robotics