Motus GI

Company Overview

Snapshot

Founded in October 2008, Motus GI operates with 11–50 employees. The company has raised $64.5 million across 5 funding rounds from 9 investors. In May 2023, Motus GI announced a $3.5 million private placement.

Business overview

Motus GI is a medical technology company focused on enhancing endoscopy outcomes and experiences. The company's core product is the Pure-Vu System, designed to improve the colonoscopy experience and aid in the early detection and prevention of colorectal cancer and other diseases of the rectum and colon. This system diminishes dependence on preprocedural preparations, aiming to enhance the quality and cost-effectiveness of colonoscopies. The Pure-Vu System is a 510(k) U.S. FDA-cleared medical device indicated for cleaning poorly prepped colons during colonoscopy procedures. It serves the healthcare industry, specifically targeting gastroenterology and oncology markets.

Strategic signal

In May 2024, Motus GI reported its Q1 2024 financial results, highlighting a successful limited U.S. commercial launch of its Pure-Vu® EVS Gastro and Gen 4 Colon system, which has doubled its active customer base. This indicates growing market adoption and commercial traction for their latest technology, signaling potential for accelerated revenue growth and market penetration to investors.

Company Intelligence Q&A

What was the outcome of Motus GI's Q1 2024 financial results?

In May 2024, Motus GI reported Q1 2024 revenue of $64,000, an increase from $56,000 in the same period last year. The company also announced a successful limited U.S. commercial launch of the Pure-Vu® EVS Gastro and Gen 4 Colon system, doubling its active customer base.

What strategic actions did Motus GI take in March 2024?

In March 2024, Motus GI initiated a limited U.S. commercial launch of the Pure-Vu® EVS Gastro and Gen 4 Colon system and sought strategic partnerships to accelerate commercialization. The company also received $2.7 million in gross proceeds from warrant exercises, extending its cash runway into Q4 2024.

Did Motus GI receive any new patents in early 2024?

In February 2024, Motus GI Holdings, Inc. was granted a U.S. patent for its 'Colon Cleaning System with Automatic Self-Purging Feature,' covering automated pressure management for irrigation and self-purging in the latest generation of the Pure-Vu system.

What were the key findings from the European study of the Pure-Vu System published in January 2024?

In January 2024, Motus GI Holdings, Inc. published positive data from a European study of its second-generation Pure-Vu System. The study concluded that adequate bowel cleaning could be achieved in patients with a history of inadequate bowel preparation, reducing the need for repeat colonoscopies and clinical admissions.

What was the purpose of the 1-for-15 reverse stock split announced in November 2023?

In November 2023, Motus GI Holdings, Inc. announced a 1-for-15 reverse stock split of its common stock. This action was taken to increase the per-share trading price and meet the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market.