Company: Motus GI Holdings, Inc.
Symbol: MOTS
Description: They have developed a single-use medical device system cleared by the United States Food and Drug Administration, that is intended to connect to standard colonoscopes to help facilitate intraprocedural cleaning of a poorly prepared colon by irrigating or cleaning the colon and evacuating the irrigation fluid, feces and other bodily fluids and matter.
Shares: 4.25 million
Price Range: $5.00-$7.00
Trade Date: Day-to-Day
Underwriter(s): Piper Jaffray, Oppenheimer & Co.
Terms Added: 1-31-18
Business: The company’s “Pure-Vu “system has been designed to integrate with standard colonoscopes to enable cleaning during the procedure while preserving standard procedural workflow and techniques. Their Pure-Vu system and the procedure to cleanse the colon in preparation for colonoscopy are not currently reimbursable through private or governmental third-party payors in any country, but they intend to seek reimbursement through private or governmental third-party payors in the future. They initiated preclinical testing in 2011 and started clinical testing of the first prototype version of the Pure-Vu system in Europe in late 2012. In clinical studies performed in Europe and Israel from 2012 through the second quarter of 2017, the Pure-Vu system and earlier prototype versions have demonstrated effective cleaning in over 175 patients that followed a significantly reduced pre-procedural colonoscopy preparation regimen, as compared to current prep regimens.
Reservation of Stock: The underwriters have reserved for sale at the initial public offering price up to 212,500 shares of their common stock, or approximately five percent (5%) of the shares offered by this prospectus, for our employees and other persons associated with MOTS. The number of shares of their common stock available for sale to the general public in this offering will be reduced by the number of shares sold pursuant to the directed share program.
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