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Titan Medical, Inc. (TITXF)

Titan Medical, Inc. centers on the design, development, and commercialization of a robotic surgical system for application in minimally invasive surgery (MIS). Currently under development, the company's SPORT Surgical System includes a surgeon-controlled robotic platform that features multi-articulating instruments for performing MIS procedures via a single port. A medical device company, Titan Medical is based in Toronto, Ontario. The company lists on the OTC Markets Group's OTCQB.

The SPORT Surgical System is a unique single incision robotic surgical system. It has undergone development based on clinical user needs. It is covered by 14 patents and 37 pending applications.

The SPORT Surgical System provides access to underserved market segments, such as ambulatory surgery centers. Regarding Open Display, the 3D high definition 32-inch display provides a first-rate balance of surgical immersion and situational awareness in the Operating Room (OR).

Titan's surgical system includes a workstation that provides a surgeon with an advanced ergonomic interface to the robotic platform for controlling the instruments and also provides a 3D high-definition endoscopic view inside a patient's body. The design of the SPORT system is to enable surgeons to perform a comprehensive set of general abdominal, gynecologic, urologic, and colorectal procedures. The design of the system is for improved clinical capabilities, operating room efficiency, and hospital economics.

Titan Medical has completed initial formative human factors studies for its SPORT single port robotic surgical system. Formative human factors studies involve the evaluation of prototypes by expert users that focus on simulated task exercises vital to product safety. Titan Medical is planning to commercialize its single incision surgical system - first in Europe and then in the United States.

Recently, Titan Medical announced the granting of Canadian Patent CA 2973227 and CA 2973235. These patents are related generally to control methods for robotic surgical systems. This includes the provision of select autonomous control and safety functions that enable optimal controllability of robotic instruments during use.

The methods describe alignment control of robotic instruments, including snake-like or multi-articulated instruments as utilized in the SPORT system that are important for facilitating movement within the abdomen. Corresponding patent applications are pending in the United States and Europe. Titan anticipates future issuances in numerous jurisdictions.

Titan Medical also recently reported the successful first use of its SPORT Surgical System in Europe. These studies in general and urologic surgery at the Institute of Image-Guided Surgery at the Institut Hospitalo-Universitaire de Strasbourg, France are part of the feasibility and validation studies intended to support regulatory submissions.

Mr. David McNally, Titan Medical President and Chief Executive Officer, said, "After our installation of the SPORT system at IHU Strasbourg earlier this month, surgeons have now successfully completed the first preclinical single-port robotic surgeries in Europe using the SPORT system. We are honored that highly-regarded surgeons …directed and performed a variety of abdominal, oncologic and urologic procedures. These first-use studies provide valuable insight into procedures we may focus on during commercialization."




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