Titan Medical (CVE:TMD) said today that it inked a deal with the principal developer of its Sport robot-assisted surgery platform to re-start the program after its halt earlier this year due to a financial shortfall. Toronto-based Titan, which ousted longtime CEO John Hargrove earlier this week, put the Sport program on hold in mid-August after Ximedica suspended development until […]
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Titan Medical CEO Hargrove is out | Personnel Moves, Oct. 11, 2016
Titan Medical CEO Hargrove is out Titan Medical (CVE:TMD) said today that it’s looking for a new CEO after the resignation of John Hargrove as it looks to get back on track with the development program for its Sport robot-assisted surgery platform. Toronto-based Titan said board member John Barker is slated to fill Hargrove’s shoes on […]
Titan Medical updates on funding, Sport robotic surgical system dev
Titan Medical (TSE:TMD) yesterday released an update on the progress of its Sport robotic surgical system, saying it has enough funds to support development of “key components” of the system, which has been on hold since mid-August. Earlier this month, the company said it raised nearly $7.9 million (C$10.25 million) via an overnight offering it plans to use to […]
Titan Medical closes $8m offering
Titan Medical (TSE:TMD) said today that it raised nearly $7.9 million (C$10.25 million) via an overnight offering it plans to use to restart the development program for its Sport robot-assisted surgery platform. The Toronto-based company said it sold almost 17.1 million units at 46.1¢ (C60¢) apiece. The proceeds are slated for the completion of an engineering verification unit, a pair […]
Titan Medical sets $8m to $12m range on overnight offering for Sport surgical bot
Titan Medical (TSE:TMD) said yesterday that it hopes to raise between $8 million and $12 million via an overnight offering it plans to use to restart the development program for its Sport robot-assisted surgery platform. Toronto-based Titan Medical said the offering, priced at 46.1¢ (C60¢) per unit, will involve between nearly 17.1 million and 26.8 million units. Each unit […]
Titan Medical prices overnight offering
Titan Medical (TSE:TMD) today priced an overnight offering at 46.1¢ (C60¢) per unit, saying it plans to use the proceeds to continue developing its Sport robot-assisted surgery platform. Each unit in the offering consists of a share of stock and a 5-year warrant to buy another share at 57.6¢ (C75¢). Toronto-based Titan did not say how many […]
Titan Medical loses clinical & regulatory EVP Fowler | Personnel Moves for August 29, 2016
Titan Medical loses clinical & regulatory EVP Fowler Titan Medical (CVE:TMD) said today that its executive vice president for clinical & regulatory affairs, Dr. Dennis Fowler, plans to resign effective August 31. Toronto-based robot-assisted surgery company Titan, which is grappling with the suspension of its product development program, said Fowler’s duties will be divided on an […]
Titan Medical again extends negotiations with Chinese distributor
Titan Medical (TSX:TMD) said this week that it’s again extending negotiations with a Chinese distributor, after a prior, 3-month add-on expired August 19. The Toronto-based robot-assisted surgery company is in talks with Longtai Medical over the exclusive rights to its Sport platform in the Asia-Pacific region. In May, Titan inked a 3-month extension on negotiations with distributor […]
Outside developers suspend Sport medical ‘bot program until Titan Medical can pay its bills
The product developers Titan Medical (CVE:TMD) hired to help create its Sport robot-assisted surgery platform have suspended development until the company can cover its bills, and $16 million in financing from a Chinese private equity firm might not happen after all, Titan said yesterday. The Toronto-based company said its product developers “have decided to temporarily suspend development […]
New crop of robots to vie for space in the operating room
(Reuters) – Even though many doctors see need for improvement, surgical robots are poised for big gains in operating rooms around the world. Within 5 years, 1 in 3 U.S. surgeries – more than double current levels – is expected to be performed with robotic systems, with surgeons sitting at computer consoles guiding mechanical arms. Companies developing new […]
Titan Medical delays close for $16m placement with Chinese private equity firm
Titan Medical (CVE:TMD) added a month to the closing date on a private placement that’s slated to add about $16 million to its coffers. The placement with Chinese private equity player Shanghai Jugu Equity Investment Fund, announced June 1, is now due to close on or before August 15, the Toronto-based robot-assisted surgery firm said. “We have extended […]