Titan Medical develops minimally invasive robotic surgical systems featuring its Single Port Orifice Robotic Technology with 3D imaging and interactive instruments.
The Toronto, Ontario-based company is on track to meet recently published milestones for its robotic surgery platform and is preparing the system for expanded use in general surgery, gynecology and urology, Titan Medical said.
Titan Medical said it plans to produce 11 Sport systems for engineering verification in human studies and clinical trials.
The new stock offering will be open for a 25-month period, as the company looks to raise the $45 million from sales of common shares, warrants, units, preferred shares, and debt securities, according to Titan Medical.
Last April, Titan Medical announced details of a planned $22.3 million U.S. public offering after raising $11.7 million in a stock offering in Canada.
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