Titan Medical (CVE:TMD) today priced an 8.9-million-share offering at about 65¢ per share, saying it plans to use the proceeds to continue developing its Sport robot-assisted surgery platform. Toronto-based Titan said it could gross about $5.8 million (C$8 million) from the offering, which is slated to close Feb 12. Each unit of the offering consists of […]
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Titan Medical plans Canadian offering to build 1st Sport robots
Titan Medical (CVE:TMD) said yesterday it is planning a Canadian overnight marketed public offering to support the production of its minimally invasive robotic Sport Surgical System. Titan Medical’s Sport surgical system is a minimally invasive robotic surgery system featuring the company’s Single Port Orifice Robotic Technology and 3D imaging and interactive instruments, the Toronto, Ontario-based company said. […]
Intuitive Surgical CEO Guthart unfazed by upcoming competition
Gary Guthart, the longtime CEO of robot-assisted surgery pioneer Intuitive Surgical (NSDQ:ISRG), said yesterday that he’s confident Intuitive will be able to compete as smaller rivals begin hitting the market as early as this year and bigger players loom on the horizon. “We have known for years and have anticipated for years. We didn’t wake up yesterday […]
Titan Medical debuts Sport robot assisted surgery prototype
Titan Medical (CVE:TMD) yesterday introduced the prototype of its Sport robot-assisted surgery device to investors in New York as it gears up for 1st-in-human trials this year. Titan is chasing TransEnterix (NYSE:TRXC) in the race to challenge robot-assisted surgery’s dominant player, Intuitive Surgical (NSDQ:ISRG), and its da Vinci system. TransEnterix’s SurgiBot is expected to hit the U.S. market […]
Titan Medical closes in on 1st-in-human for Sport surgical robot
Titan Medical (CVE:TMD) said this week that initial versions of its Sport robot-assisted surgery platform are ready for engineering verification ahead of 1st-in-human trials early next year. The initial Sport versions to include both work station and patient cart are “precursors” for the systems to be built for the trials next year, Toronto-based Titan said. “This fully integrated […]
Titan Medical licenses Mayo Clinic IP for Sport robot-assisted surgery system
Titan Medical (CVE:TMD) said this week that it licensed “know-how and certain technology” from Mayo Clinic for its Sport robot-assisted surgery platform. The license covers intellectual property developed by Dr. David Larson, chairman of the colorectal surgery department at the Rochester, Minn.-based clinic, “including that developed through his participation in cadaver studies with Titan’s Sport surgical system,” […]
Titan Medical inks instruments deal with Cadence Device
Titan Medical (CVE:TMD) said today that it inked a deal with Cadence Device for instruments for its Sport robot-assisted surgery platform. The deal calls for Cadence to develop, manufacture and manage the supply chain for the instruments, Toronto-based Titan said. “We are very excited to partner with Cadence, a leading contract manufacturer in the medical field. Their […]
UPDATE: Titan Medical reports $4m round, 1st-cadaver robotic Sport study
Updated with information from cadaver studies. Titan Medical (CVE:TMD) said today it closed a $4 million private placement round with Longtai Medical and said last week it performed its 1st successful cadaver lab study with its Sport surgical robotic system. The cadaver studies were performed by 2 robotic surgeons from the company’s surgeon advisory board, Titan Medical […]
Titan Medical plans 1st-in-human for bot in 2016, closes $8.6m round
Titan Medical (CVE:TMD) said it is plans to complete its 1st in-human Sport surgical system units during the 1st quarter of 2016, along with reporting a recently closed round of financing that brought in $8.6 million (CDN $11.5 million). The company reported earnings from its 3rd quarter, ended on September 30, with losses growing to $10.9 […]
Titan Medical inks $24m private placement deal with Chinese distributor Longtai
Titan Medical (CVE:TMD) last week said it agreed to a private placement deal with a subsidiary of Chinese medical device distributor Ningbo Long Hengtai International Trade Co. that could wind up being worth more than $24 million. Toronto-based Titan Medical said the deal with Canada-based Longtai Medical involves an initial, $4 million private placement priced at $1.23 per […]
NASS 2015 Roundup: Spine trends stabilizing, new fields taking center stage
The spinal med device market appears to be stabilizing with growth in 3 key areas, according to a letter to investors published this week from Leerink Partner’s Richard Newitter, who attended the North American Spine Society’s annual meeting in Chicago last week. Newitter said the meeting was “neutral-to-positive” for firms in the spinal market, and said […]