Titan Medical (TSX:TMD) CEO David McNally told shareholders today that the company must raise $85 million to finish developing its Sport robot-assisted surgery device and file for FDA clearance. The Toronto-based medical device company is considering raising that money through equity or debt, licensing, merger or acquisition. Titan Medical lost nearly half its value in October […]
Titan Medical prices offering for up to $25m for Sport robot-assisted surgery device
Titan Medical (TSX:TMD;OTC:TITFX) today priced an offering it hopes will bring in as much as $25 million, cash it desperately needs to resume development of its Sport robot-assisted surgery device. Earlier this month, shares in the Toronto-based company lost nearly half their value when Titan suspended the timeline on the Sport single-port surgery platform. The company […]
Titan Medical plunges on suspended timeline for Sport surgical robot
Titan Medical (TSX:TMD) shares lost nearly half their value this morning after the medical device company suspended the timeline for its Sport robot-assisted surgery device. Earlier this year the Toronto-based company pushed back the timeline for its 501(K) submission to the FDA from late this year to the first half of 2020. But late yesterday Titan […]
Titan Medical preps for up to $22m from overnight offering
Titan Medical (TSX:TMD;OTC:TITFX) yesterday registered an overnight offering it hopes will bring in as much as $22 million for the robot-assisted surgery platform it’s developing. Toronto-based Titan said the offering, which aims to raise a minimum of $18 million, will combine one share of stock and a single warrant; no prices have been set yet. The […]
Titan Medical inks $35m financing deal with Aspire Capital
Titan Medical (TSX:TMD;OTC:TITFX) said yesterday that it inked a share purchase agreement with Aspire Capital worth up to $35 million. In the deal, Aspire Capital committed to purchase Titan stock up to the $35 million mark until Feb. 28, 2022, at Titan’s request. Titan plans to immediately sell Aspire Capital nearly 1.8 million shares at $1.69 […]
Titan Medical delays timeline on Sport robot-assisted surgery device
Titan Medical (TSX:TMD;OTC:TITFX) today pushed back the timeline on its Sport robot-assisted surgery device, saying it now expects to file for 510(k) clearance from the FDA next year, sending its share prices down in New York and Toronto. With a successful human factors evaluation of the single-port device under its belt, the Toronto-based company said […]
Titan Medical on track for FDA, CE Mark bids this year
Titan Medical (TSX:TMD;OTC:TITFX) said today that it’s on track to submit approval bids this year for its Sport robot-assisted surgery device in the U.S. and Europe. The Toronto-based company said it completed all procedures under Good Laboratory Practices guidelines for acute and chronic animal and human cadaver studies, with slated to follow by the end of […]
Ablative Solutions taps medtech vet Rumrill for CEO | Personnel Moves, July 16, 2019
Ablative Solutions tapped 30-year industry veteran Kate Rumrill, the former chief executive at NeoSync, to be its new president & CEO. Rumrill, whose resume includes stints at Covidien, Aspect Medical Systems and Eli Lilly, is slated to keep her seat on NeoSync’s board, San Jose, Calif.-based Ablative Solutions said. The company makes the Peregine renal […]
Titan Medical shares drop slightly on Q1 earnings release
Shares in Titan Medical (NSDQ:TMDI) are down slightly today after the robotic surgical platform maker posted first quarter earnings. The Toronto-based company reported research and development expenses of approximately $14.4 million, up 340.1% from the approximate $3.3 million it reported during the first quarter of 2018. Titan Medical posted net and comprehensive loss of approximately $28.3 […]
Titan Medical freezes design on Sport robotic surgery platform
Titan Medical (NSDQ:TMDI) said today that it has achieved a design freeze for its single-port Sport robotic surgery platform. The Toronto-based company said that the freeze is the culmination of engineering work based on feedback it received through extensive preclinical feasibility studies and an ongoing formative human factors study. Read the whole story on our sister site, […]
Titan Medical, Teleflex ink collab robotic ligation dev deal
Titan Medical (NSDQ:TMDI) said today that it inked a collaborative development deal with Teleflex (NYSE:TFX) to integrate its polymer ligation technology into Titan’s Sport single-port robotic surgical platform. Toronto-based Titan Medical said that Wayne, Penn.-based Teleflex’s polymer ligation system is intended for vessel sealing and includes an enhanced clip security feature that has been previously used in […]
