On September 21, 2015, TransEnterix, Inc. announced that it had entered into a Membership Interest Purchase Agreement, dated September 18, 2015 with SOFAR S.p.A. and TransEnterix International, Inc. Effective September 21, 2015, the Board of Directors (the Board) of the Company elected Andrea Biffi to the Board. Mr. Biffi is currently the Chief Executive Officer, and a member of the Board of Directors, of SOFAR S.p.A., a position he has held since June 2015. Mr. Biffi was elected to the Board of Directors of the Company in connection with the Acquisition Transaction.