New Initiative in Medical Robotics to Address Major Market Opportunities
Medical robots are realizing their potential in terms of improved accuracy, visualization, and applications with their use expanding. Current medical robotic devices are typically large in-place systems with procedure-specific configurations requiring the assistance of the physician or operator.
AVRA Medical Robotics, Inc. (AVRA) has identified the significant need for a programmable autonomous robotic system with integrated image-guidance navigation in a single arm capable of modular configurations. It will be compact, rapidly programmable, procedurally wide-ranging, cost-effective, and capable of performing minimally invasive procedures, such as biopsies, to more invasive surgical interventions both in an ambulatory setting and the operating room.
Toward this objective in May 2016, AVRA partnered with the University of Central Florida College of Engineering and Computer Science to develop the algorithms, sensors, navigation, and control components of the system. The College is particularly recognized for its work in the area of robotic research and design. Chair Professor Zhihua Qu and Research Professor Eytan Pollak are leading the program.
Professors Qu and Pollak have extensive backgrounds in the development of computer-operated systems that encompass the integration of tools and sensors, real-time image/data processing, navigation, control, and human-machine interface. AVRA has filed for six provisional patents and is working with the college to file additional patents based on the work completed so far.
In reviewing marketing opportunities, we have initially identified a current, high-priority, fast growing market with an especially fitting and fully compatible use for our device—the skin resurfacing market.
The following three applications dominate that market:
|| Laser Treatments
|| Micro-Needling (Dermabrasion)
Each has its own place in patients' requirements which range from acne blemishes, tattoo removal, various keratosis, pigmentation, previous scarring to the largest component, wrinkles. Excluding Botox, which is an injectable method with temporary results, laser, and needling for skin surface applications are presently administered using handheld devices.
The target for AVRA's first planned medical robotic system, the non-surgical skin resurfacing market, has experienced explosive growth and is foreseen to continue this fast growth well into the future.
AVRA plans to market its devices directly to end-users, accompanied with a comprehensive training program, with the assistance of its Medical Advisors and to hospitals and healthcare organizations via the Company's established relationships. When appropriate, AVRA may also use distributors.
In the instance of the skin resurfacing segment, AVRA will assist the practitioners in driving demand, particularly through social media, to advertise and display our expected application's competitive advantages.
According to IMS, in 2015 there were almost 14,000 dermatologists in the United States with the majority in either offices of three or more practitioners or independently operated.
On February 14, 2017, AVRA filed a Registration on Form S-1 with the U.S. Securities and Exchange Commission covering the resale of certain of our outstanding shares of common stock with a view to becoming a fully reporting public company. On July 31, 2017 the S1 was deemed effective by the SEC.
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