Upper gastrointestinal hemorrhage

Initiated limited U.S. commercial launch of the Pure-Vu® EVS Gastro and Gen 4 Colon system, including successful UGI procedures at several leading hospital systemsThe Company is engaged in the process to seek strategic partnerships aimed at accelerating commercialization of the Pure-Vu System and maximizing stockholder valueRecent exercise of certain outstanding warrants provided infusion of $2.7M in gross proceeds to the Company, which extended its cash runway into the fourth quarter of 2024 FORT LAUDERDALE, Fla., March 18, 2024 (GLOBE NEWSWIRE) -- Motus GI Holdings, Inc., (NASDAQ: MOTS) (“Motus GI” or the “Company”), a medical technology company focused on improving endoscopic outcomes and experiences, today reported its financial results for the fourth quarter and year ended December 31, 2023, and provided a corporate update. “During the past year, we achieved several key milestones that we believe strengthen our position operationally and subsequently initiated a limited U.S. commercial launch of the Pure-Vu® EVS Gastro and Gen 4 Colon system. The new indication for the Upper GI space, along with several technological advancements in both devices are expected to strengthen our ability to penetrate the endoscopy market,” commented Mark Pomeranz, Chief Executive Officer. “We believe the EVS Gastro system opens up significant new market opportunities for our technology, especially in the emergent setting of upper GI bleeding. We have already seen positive results in this high acuity population. Following its initial launch, we received positive feedback on these latest devices in terms of easy of setup and better handling with our Flex Channel technology that has no oversleeve in both the upper and lower GI tract. We are in the process of moving existing accounts over to these new devices, which is expected to be completed by end of the first quarter of 2024 and will move on to targeting new accounts in the second quarter.” “Over the last six months, we have been able to improve our balance sheet by reducing our debt, eliminating a historical royalty commitment and receiving an infusion of capital. We believe our ability to achieve all these milestones over the past year has created significant value in our business and put us in a strong position to seek strategic partnerships,” concluded Mr. Pomeranz. Fourth Quarter and Recent Business Highlights Initiated over the last quarter, a limited U.S. commercial launch of the Pure-Vu® EVS Gastro and Gen 4 Colon system. This initial phase of the rollout is targeting existing customers, which is currently on track to be completed by end of the first quarter of 2024. The new device, which features a sleeveless Flex-Channel design, has been well received by early-adopters, who have commented on the system’s improved handling and easy setup. The Company also received positive feedback from customers using the EVS Gastro with patients presenting with a UGI bleed. Also, the system has been used successfully removed stomach contents to support therapeutic upper GI treatments that typically would have otherwise been canceled due to poor visualization.The Company announced positive data from an international, multicenter colonoscopy study that evaluated if an adequate level of bowel cleansing could be achieved with the Pure-Vu System in patients with previous poor bowel preparation (Boston Bowel Preparation Scale (BBPS)<6). Results from the study met the primary endpoint, showing a median BBPS increase from 1-2-2 (IQR 1–2) to 3-3-3 (IQR) (p < 0.0001), with 31.8% and 88.6% of patients adequately prepared before and after using the Pure-Vu System, respectively (p < 0.0001). The study also met its key secondary endpoints and no serious adverse events occurred. These data were published in a manuscript titled, “An intraprocedural bowel cleansing system for difficult-to-prepare patients—A multicenter prospective feasibility study,” in the peer-reviewed journal, United European Gastroenterology (UGE).In February 2024, the United States Patent and Trademark Office (USPTO) 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.The Company continues its process to seek strategic partnerships aimed at accelerating commercialization of the Pure-Vu System and maximizing stockholder value. Financial Results for the Quarter and Year Ended December 31, 2023 The Company reported revenue of $64,000 for the fourth quarter 2023, compared to $109,000 for the same period last year. Revenues for the full year 2023 were $319,000 compared to $592,000 in 2022. Revenues were primarily derived from reorders and new customer orders of disposable sleeves. For the three months ended December 31, 2023, the Company reported a net loss attributable to common shareholders of $2.8 million, or $4.48 per basic and diluted share, compared to a net loss attributable to common shareholders of $3.7 million, or $11.89 per basic and diluted share, for the same period last year. For the year ended December 31, 2023, the Company reported a net loss attributable to common shareholders of $12.9 million compared to a net loss attributable to common shareholders of $18.6 million for the year ended December 31, 2022. During the fourth quarter 2023, net cash used in operating activities and for the purchase of fixed assets was $1.9 million as compared to $4.0 million for the same period of 2022. Net cash used in operating activities and for the purchase of fixed assets during the year ended December 31, 2023 totaled $11.3 million as compared to $17.7 million for the same period of 2022. The Company reported $5.0 million in cash and cash equivalents as of December 31, 2023. This balance includes the fully funded credit facility with Kreos Capital, which has approximately $2.3 million due and outstanding as of December 31, 2023. About Motus GI 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 certain forward-looking statements. Forward-looking statements are based on the Company’s current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. 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, risks related to the continued impact of the COVID-19 pandemic, risks inherent in the development and commercialization of potential products, possible or assumed future results of operations, business strategies, potential grow 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 Securities and Exchange Commission, and its other filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Investor Contact: Troy WilliamsLifeSci Advisors(518) 221-0106twilliams@lifesciadvisors.com Motus GI Holdings, Inc. and SubsidiariesCondensed Consolidated Balance Sheets(Unaudited, in thousands, except share and per share amounts) December 31, 2023 2022 Assets Current assets: Cash and cash equivalents $4,958 $14,042 Accounts receivable 76 59 Inventory, current 245 488 Prepaid expenses and other current assets 478 781 Total current assets 5,757 15,370 Fixed assets, net 992 1,325 Inventory, non-current 251 511 Right-of-use assets 210 428 Other non-current assets 13 13 Total assets $7,223 $17,647 Liabilities and Shareholders’ Equity Current liabilities: Accounts payable and accrued expenses $1,842 $1,969 Operating lease liabilities - current 169 245 Other current liabilities 226 53 Current portion of long-term debt, net of unamortized debt discount of $16 and $182, respectively 1,033 2,532 Total current liabilities 3,270 4,799 Contingent royalty obligation - 1,212 Operating lease liabilities - non-current 27 178 Convertible note, net of unamortized debt discount of $0 and $108, respectively - 3,892 Long-term debt, net of unamortized debt discount of $108 and $135, respectively 1,239 4,589 Total liabilities 4,536 14,670 Commitments and contingent liabilities (Note 9) Shareholders’ equity Preferred stock $0.0001 par value; 10,000,000 shares authorized; zero shares issued and outstanding - - Common stock $0.0001 par value; 115,000,000 shares authorized; 1,547,042 and 310,494 shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively - - Additional paid-in capital 156,905 144,328 Accumulated deficit (154,218) (141,351)Total shareholders’ equity 2,687 2,977 Total liabilities and shareholders’ equity $7,223 $17,647 Motus GI Holdings, Inc. and SubsidiariesCondensed Consolidated Statements of Comprehensive Loss(Unaudited, in thousands, except share and per share amounts) Three Months EndedDecember 31, Twelve months EndedDecember 31, 2023 2022 2023 2022 Revenue $64 $109 $319 $592 Operating expenses: Cost of revenue - sales 19 32 81 198 Cost of revenue - impairment of inventory 267 439 488 598 Research and development 561 1,350 3,467 5,611 Sales and marketing 244 871 1,611 4,425 General and administrative 1,445 1,444 6,579 7,611 Total costs and expenses 2,536 4,136 12,226 18,443 Operating loss (2,472) (4,027) (11,907) (17,851) Gain on change in estimated fair value of contingent royalty obligation - 577 103 548 Loss on extinguishment of debt (284) - (284) - Finance expense, net (54) (251) (761) (1,252)Foreign currency gain (loss) 5 19 (18) (42) Net loss $(2,805) $(3,682) $(12,867) $(18,597)Basic and diluted loss per common share: $(4.48) $(11.89) $(15.89) $(86.15)Weighted average number of common shares outstanding, basic and diluted 626,313 309,788 809,506 215,863

CENTER VALLEY, Pa., March 1, 2024 /PRNewswire/ -- Olympus, a leading global medtech company providing innovative solutions for medical and surgical procedures, announced today that EndoClot products are now used in 49 of the 50 U.S. states as well as the District of Columbia and Guam, since Olympus became the exclusive U.S. distributor of EndoClot hemostatis and submucosal injection solution technologies in 2022. Continue Reading EndoClot products are used by more than 700 accounts, including most of the country’s top-ranked (by size) Integrated Delivery Networks (IDNs) More than 5,000 EndoClot kits have been shipped to customers to date. EndoClot products are used by more than 700 accounts, including most of the country's top-ranked (by size) Integrated Delivery Networks (IDNs). Since their launch, EndoClot products have been discussed in close to 20 relevant professional education courses offered via Olympus Continuum, providing physicians with peer-demonstrations of EndoClot technology capabilities during procedures. "Olympus knew that EndoClot technology would be important to improving procedure efficiencies and contributing to improved patient outcomes," said Patrick Romano, Vice President, GI Business Unit Leader, Olympus Corporation of the Americas. "But we are nevertheless impressed with the traction that the products have gained in such a short time. The team has been focused on EndoClot since its commercial launch because identifying and treating GI bleeds have been problems in need of optimized solutions for some time." The EndoClot® Polysaccharide Hemostatic Spray (PHS) and EndoClot® Submucosal Injection Solution (SIS) were developed by EndoClot Plus, Inc. (EPI), which joined with Olympus in a U.S. distribution agreement in 2022, extending upon an earlier agreement in the EMEA region. EndoClot PHS and SIS became commercially available in the U.S. in September 2022 and in the Europe, Middle East and Africa (EMEA) region in April 2023. Both products are based on the EndoClot Absorbable Modified Polymer (AMP®) technology, which has demonstrated an excellent safety profile.1 The EndoClot AMP particles work by absorbing water from blood. The dehydration process causes a high concentration of platelets, red blood cells and coagulation proteins, which helps accelerate the body's clotting cascade. AMP particles are biocompatible, bioabsorbable, non-pyrogenic, starch derived and contain no animal or human components.1 "I have been an EndoClot technology user, both PHS and SIS, from almost as soon as it was available, and I am pleased with the results," said Ahmed Saeed, MD, Premier Gastroenterology of Kansas City, Overland Park, Kansas.* "Patients deserve the technology that can prevent complications from becoming more emergent and requiring follow-up care." The EndoClot PHS System enables physicians to apply an advanced powder hemostat during a procedure using controlled, consistent air pressure through a portable air compressor. Used for hemostasis of nonvariceal gastrointestinal bleeding, excluding Forrest Ia classification of bleeding, the EndoClot PHS System1: Is indicated for use within the gastrointestinal (GI) tract and in combination with other conventional techniques, like clipping, for large and diffuse bleeds, such as those occurring in peptic ulcers, post-biopsy, polypectomy, tumor bleeding, as well as post-EMR and ESD; Allows for easy irrigation with water during procedures; Provides control of delivery and anti-reflux capability through the applicator design, which can prevent occlusion and treat hard-to-reach bleeds; and Features an air compressor of small, portable design and provides consistent air pressure to propel powder to the bleeding site, while helping prevent the white-out effect common with CO2 propellant. Performing hemostasis within the GI tract is a technically demanding procedure and the use of EndoClot PHS and associated devices may result in patient injury including but not limited to inflammatory reaction, bowel rupture and air embolism. EndoClot PHS is not indicated for use in surgical or trauma applications. The EndoClot SIS System is intended for use in gastrointestinal endoscopic procedures for submucosal lift of polyps, adenomas, early stage cancers or other gastrointestinal mucosal lesions, prior to excision with a snare or endoscopic device. The EndoClot SIS solution1: Provides a long-lasting, high lift that may create significant mucosal separation allowing for easy dissection; Accurately delivers to the targeted area owing to use of a specialized spiral syringe design; and Minimizes residual artifacts that may cause abnormalities during pathological investigations. Use of a lifting agent during EMR/ESD/POEM and difficult polypectomy and the associated devices may result in patient injury, bleeding and/or perforation. For more information visit the EndoClot PHS and EndoClot SIS product pages. A new video highlighting use of the EndoClot PHS and EndoClot SIS has been developed to provide more information: . 1. Data on file with Olympus as of 16/Aug/2022 *Dr. Saeed is a paid consultant to Olympus. About Olympus At Olympus, we are committed to our purpose of making people's lives healthier, safer and more fulfilling. As a global medical technology company, we partner with healthcare professionals striving to provide best-in-class solutions and services for early detection, diagnosis and minimally invasive treatment, aiming to improve patient outcomes by elevating the standard of care in targeted disease states. For more than 100 years, Olympus has pursued a goal of contributing to society by producing products designed with the purpose of delivering optimal outcomes for its customers around the world. For more information, visit medical.olympusamerica.com. SOURCE Olympus Corporation of the Americas

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 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 (518) 221-0106 twilliams@lifesciadvisors.com