Form 8-K - Current report

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): February 21, 2024

 

MOTUS GI HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware		001-38389		81-4042793
(State or other jurisdiction		(Commission		(IRS Employer
of incorporation)		File Number)		Identification No.)

 

1301 East Broward Boulevard, 3rd Floor Ft. Lauderdale, FL		33301
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code: [phone]

 

Not Applicable

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐	Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class		Trading Symbol(s)		Name of Each Exchanged on Which Registered
Common Stock, $0.0001 par value per share		MOTS		The Nasdaq Capital Market

 

 

 

 

Item 7.01. Regulation FD.

 

On February 21, 2024, Motus GI Holdings, Inc., a Delaware corporation (the “Company”) issued a press release announcing that the United States Patent and Trademark Office (USPTO) has issued the Company a new patent (patent # 11904085) titled, “Colon Cleaning System with Automatic Self-Purging Feature.” A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1.

 

The information in this Current Report on Form 8-K under Item 7.01, including the information contained in Exhibit 99.1, is being furnished to the Securities and Exchange Commission, and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by a specific reference in such filing.

 

Item 8.01 Other Events.

 

On February 21, 2024, the Company issued a press release announcing that the United States Patent and Trademark Office (USPTO) has issued the Company a new patent (patent # 11904085) titled, “Colon Cleaning System with Automatic Self-Purging Feature.” The new patent covers systems and methods for cleaning a colon or other portion of the GI tract include optional use of sensors to detect conditions of blockage of flow of materials within an evacuation channel used to remove debris from the body; and devices and methods for purging such blockages from the evacuation channel. This latest patent application is a continuation of U.S. patent applications Ser. No. 16/389,955 filed on April 21, 2019. Inpatient endoscopy on patients admitted to the hospital can be a difficult endeavor to get a quality procedure in a timely manner due to debris in the GI tract. This can lead to delayed, aborted and repeat procedures, which puts a burden on the healthcare system and the patient, both from a clinical and economic perspective. According to the literature, up to 50.0% of inpatient colonoscopies can have an extra night of hospitalization due to inadequate preparation and market research has shown that 30.0% of upper GI bleed cases have issues with adequate visualization effecting the length and outcome of the procedure.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) The following exhibit is furnished with this report:

 

Exhibit No.		Description
99.1		Press Release issued by Motus GI Holdings, Inc., dated February 21, 2024.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	MOTUS GI HOLDINGS, INC.
Dated: February 21, 2024	By:	/s/ Mark Pomeranz
	Name:	Mark Pomeranz
	Title:	Chief Executive Officer

 

 

 

 

 

Exhibit 99.1

 

 

February 21, 2024

 

Motus GI Holdings Granted a U.S. Patent for a Key Feature Embodied by the Pure-Vu^® System to Avoid Clogging in Cleansing the GI Tract

 

FORT LAUDERDALE, Fla., Feb. 21, 2024 (GLOBE NEWSWIRE) – Motus GI Holdings, Inc. (“the “Company”) (NASDAQ: MOTS), a medical technology company focused on improving endoscopic outcomes and experiences, today announced that the United States Patent and Trademark Office (USPTO) has issued the Company a new patent (patent # 11904085) titled, “Colon Cleaning System with Automatic Self-Purging Feature.”

 

“We are pleased to announce further strengthening our IP portfolio in the U.S. This latest patent covers the automated management of pressure for irrigation and self-purging feature of the latest generation of the Pure-Vu system. This capability is key to enhancing the physician’s experience using the Pure-Vu, by avoiding procedure delays due to clogs,” commented Mark Pomeranz, Chief Executive Officer. “The Pure-Vu system’s self-purging feature embodies a series of sensors that can detect loss of suction and location of the potential blockage within the evacuation channel, automatically ceasing suction and reversing flow to purge the clogged material, thereby reopening the channel without requiring any action by the physician.”

 

The new patent covers systems and methods for cleaning a colon or other portion of the GI tract include optional use of sensors to detect conditions of blockage of flow of materials within an evacuation channel used to remove debris from the body; and devices and methods for purging such blockages from the evacuation channel. This latest patent application is a continuation of U.S. patent applications Ser. No. 16/389,955 filed on April 21, 2019.

 

Inpatient endoscopy on patients admitted to the hospital can be a difficult endeavor to get a quality procedure in a timely manner due to debris in the GI tract. This can lead to delayed, aborted and repeat procedures, which puts a burden on the healthcare system and the patient, both from a clinical and economic perspective. According to the literature, up to 50% of inpatient colonoscopies can have an extra night of hospitalization due to inadequate preparation and market research has shown that 30% of upper GI bleed cases have issues with adequate visualization effecting the length and outcome of the procedure.

 

 

About Motus GI Holdings, Inc.

 

Motus GI Holdings, Inc. is a medical technology company, with subsidiaries in the U.S. and Israel, providing endoscopy solutions that improve clinical outcomes and enhance the cost-efficiency associated with the diagnosis and management of gastrointestinal conditions.

 

For more information, visit www.motusgi.com and connect with the Company on Twitter, LinkedIn and Facebook.

 

Forward-Looking Statements

 

This press release contains statements that constitute “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “potential,” “predict,” “project,” “should,” “would” and similar expressions and the negatives of those terms, including without limitation, statements relating to the Company’s current views and assumptions with respect to future events regarding its business, the success of the Company’s current and future business strategies, competitive position, and other statements that are predictive in nature, risks related to market and other conditions, risks inherent in the development and commercialization of potential products, possible or assumed future results of operations, potential growth opportunities, uncertainty in the timing and results of clinical trials or regulatory approvals, maintenance of intellectual property rights or other risks discussed in the Company’s quarterly and annual reports filed with the SEC, and its other filings with the SEC. Undue reliance should not be placed on any such forward-looking statements as actual results could be materially different. The Company undertakes no obligation to update these statements whether as a result of new information, future events or otherwise, after the date of this release, except as required by law.

 

Investor Contact:
Troy Williams
LifeSci Advisors
[phone]
[e-mail]

 

 

 

 

Cover	Feb. 21, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Feb. 21, 2024
Entity File Number	001-38389
Entity Registrant Name	MOTUS GI HOLDINGS, INC.
Entity Central Index Key	0001686850
Entity Tax Identification Number	81-4042793
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	1301 East Broward Boulevard
Entity Address, Address Line Two	3rd Floor
Entity Address, City or Town	Ft. Lauderdale
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33301
City Area Code	(954)
Local Phone Number	541-8000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	MOTS
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Information, Former Legal or Registered Name	Not Applicable

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