RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--
TransEnterix, Inc. (NYSE American: TRXC), a medical device company that
is pioneering the use of robotics to improve minimally invasive surgery,
today announced that the United States District Court for the Eastern
District of North Carolina dismissed the securities class action suit
filed in June 2016.
On October 6, 2017, the U.S. District Court for the Eastern District of
North Carolina entered final judgment in favor of TransEnterix, Inc. and
all other defendants dismissing the putative securities class action
complaint against them. The dismissal followed the Court's ruling that
the plaintiffs' allegations lacked merit and failed to state a viable
"We are pleased that the securities class action suit was dismissed,"
said Todd M. Pope, President and CEO at TransEnterix. "We remain
confident in achieving FDA 510(k) clearance of the Senhance Surgical
Robotic System and continue to focus on transitioning toward U.S.
TransEnterix is a medical device company that is pioneering the use of
robotics to improve minimally invasive surgery by addressing the
clinical and economic challenges associated with current laparoscopic
and robotic options. The company is focused on the commercialization of
the Senhance Surgical Robotic System, a multi-port robotic system that
brings the advantages of robotic surgery to patients while enabling
surgeons with innovative technology such as haptic feedback and eye
sensing camera control. The company is also developing the SurgiBot™
System, a single-port, robotically enhanced laparoscopic surgical
platform. The Senhance Surgical Robotic System has been granted a CE
Mark, and is currently under FDA review for clearance in the United
States. For more information, visit the TransEnterix website at www.transenterix.com.
Forward Looking Statements
This press release includes statements relating to the Senhance™
Surgical Robotic System and our current regulatory and commercialization
plans for this product. These statements and other statements regarding
our future plans and goals constitute "forward looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, and are intended to
qualify for the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. Such statements are subject to
risks and uncertainties that are often difficult to predict, are beyond
our control and which may cause results to differ materially from
expectations and include whether the Senhance Surgical Robot will be
approved by the FDA in 2017. For a discussion of the risks and
uncertainties associated with TransEnterix's business, please review our
filings with the Securities and Exchange Commission (SEC), including our
Annual Report on Form 10-K filed on March 7, 2017 and our other filings
we make with the SEC. You are cautioned not to place undue reliance on
these forward looking statements, which are based on our expectations as
of the date of this press release and speak only as of the
origination date of this press release. We undertake no obligation to
publicly update or revise any forward-looking statement, whether as a
result of new information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171009005329/en/
For TransEnterix, Inc.
Mohan Nathan, +1 919-765-8400
Source: TransEnterix, Inc.
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