SafeStitch Medical, Inc. which recently merged with TransEnterix, Inc., announced the company’s name has been changed to TransEnterix, Inc. following actions previously taken by its Board of Directors and a majority of its stockholders. The company will begin trading on the OTC Bulletin Board (“OTCBB”) under the new ticker symbol “TRXC,” effective December 9, 2013. The new ticker symbol replaces “SFES” and reflects the combined company’s new name. These changes do not otherwise affect shares of common stock held by the company’s stockholders.
“Today’s announcement represents a significant milestone following our merger with SafeStitch Medical. The combined company is poised to deliver innovative new products for minimally invasive surgery, including the SurgiBot™, a patient side minimally invasive surgical robotic system," said Todd M. Pope, president and CEO of TransEnterix.
TransEnterix (transenterix.com) is a development stage medical device company that is pioneering the use of flexible instruments and robotics to improve how minimally invasive surgery is performed. The company is focused on the development and commercialization of SurgiBot, a patient side minimally invasive surgical robotic system.
This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipate," "believes," "should," "intends," "estimates," and other words of similar meaning, including statements regarding our product development and commercialization efforts and benefits of combining TransEnterix and SafeStitch Medical. Many factors, including those described herein and in our filings with the Securities and Exchange Commission, could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include, but are not limited to: whether the name change and change in ticker symbol will be a significant milestone and whether the company is poised to deliver innovative new products for minimally invasive surgery, including the SurgiBot. The forward-looking statements contained in this press release speak only as of the date the statements were made, and we do not undertake any obligation to update forward-looking statements, except as required under applicable law. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.