Shares of Venus Concept (NASDAQ: VERO) traded higher by more than 50% on Wednesday after the company reported it had received FDA approval for its AI.ME next generation robotic technology.

The company says that its system, which addresses fractional skin resurfacing, uses machine vision and artificial intelligence algorithms to target the dermis in a selective and predictable manner.

The system utilizes a smart array of micro-coring hollow punches to remove up to 10% of skin in the treatment area, leading to the deposition of collagen and fractional skin resurfacing in the treated areas.

“We are very pleased to receive the first FDA regulatory clearance for our non-surgical robotic technology platform, AI.ME, and believe it showcases Venus Concept’s ongoing investment in technology, innovation, and clinical research towards robotics applications in the field of medical aesthetics,” said Rajiv De Silva, Chief Executive Officer of Venus Concept. “AI.ME is a first-of-its-kind robotic platform offering physicians minimally invasive treatments for high-demand procedures requiring fractional skin resurfacing.”

Venus Concept is known for its wide range of minimally invasive and non-invasive medical aesthetic and hair restoration technologies, which are available in over 60 countries and 16 direct markets.

The company's product portfolio includes an array of aesthetic device platforms as well as hair restoration systems such as NeoGraft and the ARTAS iX Robotic Hair Restoration system.

Shares of Venus Concept are traded on the NASDAQ under the ticker symbol VERO. For more information visit www.venusconcept.com.