Titan Medical (CVE:TMD) today updated on the progress of its Sport robotic surgical system, saying it has initiated usability and human factor studies of the device. The Toronto-based robotic surgical developer said that it is slated to complete the studies by the end of 2016. “During the past several weeks we have completed several sessions of studies […]
titanmedical
Titan Medical raises $16m from Chinese private equity firm
Titan Medical (CVE:TMD) said today that it raised $16 million in a private placement with Chinese private equity player Shanghai Jugu Equity Investment Fund. Shanghai Jugu paid about 56.9¢ apiece (C74.6¢) for some 27.9 million TMD shares, the Toronto-based robot-assisted surgery company said. The cash is earmarked for the Sport surgical platform Titan is developing. The company said the placement consists […]
Titan Medical extends Asia Pacific exclusive distro negotiation, initiates usability studies
Titan Medical (CVE:TMD) said today it inked a 3-month extension on negotiations with Longtai Medical to distribute its Sport surgical robot in the Asia Pacific region and it initiated usability studies for its Sport system to comply with newly published FDA guidance. The company said it extended the negotiation of exclusive rights for distribution in the […]
Titan Medical closes $12m offering
Titan Medical (CVE:TMD) said it grossed about $11.5 million (C$15.1 million) in a public offering of shares and warrants that closed yesterday. The Toronto-based robot-assisted surgery company said it sold nearly 15.1 million unit at 76¢ (C$1) apiece. Each unit consisted of a common share and a 5-year warrant priced at 92¢ (C$1.20). The offering included the sale of 191,000 units to […]
Titan Medical updates on offering, looking to raise $10-12 million
Titan Medical (CVE:TMD) said today it filed a prospectus supplement for the offering it announced earlier this week, saying its agent Bloom Burton & Co. is looking to float 14 to 16 million shares to bring in between $10.6 and $12.1 million (CAD $14 – $16 million). Each warrant is exercisable at the price of 92¢ (CDN […]
Titan Medical prices offering to support Sport robot system
Titan Medical (CVE:TMD) said today it priced a previously announced offering, planning to offer an unspecified number of shares priced at 77¢ (CDN $1) per unit, with each unit comprised of a common share of the company and 1 share purchase warrant. Each warrant is exercisable at the price of 92¢ (CDN $1.20) and entitles the holder […]
Analyst: Medtronic most likely to challenge Intuitive Surgical in robot-assisted surgery
Medtronic (NYSE:MDT) is the most likely rival to Intuitive Surgical‘s (NSDQ:ISRG) dominance in the robot-assisted surgery space, but is still at least a year away from putting a competing device on the market, according to 1 analyst covering the medical device industry. Sunnyvale, Calif.-based Intuitive has a long lead, having had its flagship da Vinci system since 2000 and is […]
Titan Medical taps IR firm
Titan Medical (CVE:TMD) said last week that it hired an outside firm, EVC Group, to create and execute an investor relations program in Canada and the U.S. The Toronto-based robot-assisted surgery company said an EVC team based in New York City and Los Angeles is managing the program. “EVC Group has a substantial track record for creating investor […]
Over-allotment brings Titan Medical offering to $12m
Titan Medical (CVE:TMD) said today an over-allotment option on its most recent offering added another $1.1 million (CDN $1.6 million) through the sale of an additional 1.7 million units at 65¢ (CDN 90¢) to the round, lifting the round total to approximately $8.8 million (CDN $12 million). Each unit sold in the offering, which was managed by […]
Titan Medical closes $7.6m offering
Titan Medical (CVE:TMD) said today it closed its most recent offering, raising $7.6 million (CAD $10.5 million) by floating 11.7 million shares at 65¢ (CAD 90¢) per share to support its Sport robotic surgical system. Each unit sold in the offering, which was managed by Bloom Burton & Co. Limited, consists of 1 common share of […]
Titan Medical expands offering to $8m
Titan Medical (CVE:TMD) today shifted the size of its upcoming offering, which it previously expected to bring in $6 million (C$8 million) raising the amount of shares offered to put it in the range of $7 to $8 million (C$10-11 million) to support developing its sport robot-assisted surgery platform. Last week, Canada-based Titan said it would […]