Great find and very interesting.
Look a little further down the list to Suzannah Sorin PA.
She's a PA at NYU that specializes in robotics across all specialties. Look at her disclosures (Ethicon J&J Verb and Medtronic). I know she's not a surgeon, but why would the two largest competitors let her consult for each other?

I do think the items uncovered are compelling, but I'm on the side that's still not sold. Patel could be working with Ethicon on their new Laparoscopic stapling platform that has nothing to do with robotics. Half of the Urologists in my area are still stapling the DVC on robotic Prostates and all use staplers for Nephrectomy.

I hope you guys are correct though!

Johnson & Johnson Innovation Center
California Innovation Center
99 EL Camino Real
Menlo Park, CA 94025
Telephone: 650-847-4403

https://www.jnjinnovation.com/contact-us#par-21

Johnson & Johnson has a new innovation center that focuses on Med Device, Pharma & Consumer all under one roof. Any new products J&J is working/collaborating on could be viewed there. Verb is in Mountain View a few miles away. Could easily visit both facilities in same day, so still very possible.

I'm still not sold on the Titan/Verb partnership, but you and others have uncovered many interesting facts so thank you.

A friend at Ethicon still says the robot is the biggest kept secret at the company and very little is spoken about it. They see other developmental products all the time, but the robot is just not spoken about. They did say at a recent meeting it was said that the robot will be unveiled to the public by end of 2017 to early 2018.

http://www.fiercebiotech.com/medical-devices/zimmer-biomet-enters-surgical-robotics-arena-70m-plus-purchase-medtech

Zimmer purchases Rosa. Companies want into the robotic market. Management has made some bad moves, but I still think this pays out in the end. Be a little more patient and I think we will be rewarded.

Why have almost all references to SPORT on Ximedica's website been removed?

You are correct there Chill. The article does state that Verb's short term goal is to have a platform ready for commercialization within four years.

Titan could speed that up and they could work on V.2 while already selling. Maybe you guys are right that the delay is to integrate the systems, but why not just announce it. I'm just not 100% sold on it.

We need to stop with the Verb talk for now. Yes it could happen.

Read this new article on Verb and you'll see they have a platform SRI has been working on for YEARS.

The Medtech Strategist - Verb Surgical - Surgery in the Digital Age by David Cassak

In the article it states:

- J&J spent 3-4 years working with SRI before joining forces with Google to form Verb.

- Michael Del Prado from Ethicon quoted saying - together with SRI we were able to build a concept and prototype that can be brought to product development with some enhancements.

- Del Prado also says he could see sharing the new platform with other operating companies such as DePuy.

The one quote that lends to the Verb/Titan possibility is:

- Huennekens says - positioning platform as an open system and willing to consider collaborations through acquisition or licensing arrangement with other start ups with novel technologies.

Wow! Some of you have gone down the rabbit hole and have lost it.

Ethicon manufactures a lot of their own devices and subs out a lot of other devices to OEM Contract Manufactures. This is VERY common in Med Device.

See this link to see the very long list of OEM Contract Manufactures.

http://directory.qmed.com/

go down to Contract Manufacture Services and you can search by FDA approved and North America to narrow it down to 80 companies.

Stop being so narrow minded here. Another Titan long has a different view that makes total sense and some of you attack that they must be short on Titan. You all must be pumpers! The stock is at $0.67 and they keep raising funds and giving free warrants at these levels. If they had a deal with VERB this would NOT be the case.

I still am long and think in the end we will all do VERY well here. Just stop with the VERB is the one stuff and open your mind to other possibilities. If VERB is not the partner it doesn't mean it's bad news.

Sorry, I was tired last night and didn't clarify. I'm in the camp that Verb is building their own robot based on SRI technology. Look at the patents and Verb's own comments of 20% the size of current robots. Verb's robot will be table mounted like in the patent and be able to perform Ortho and Spine eventually...IMO.

I listened to the call last night and read nothing into the whole Verb thing (I hope I'm wrong). If Verb see's value in Titan's patents maybe a M&A goes down.

As for J&J being the contract manufacture, I'm not buying that for a second. J&J contracts out a LOT of it's parts manufacturing and I don't believe they manufacture for other companies. More than likely Titan has contracted with a very large OEM that manufactures parts for the large med device companies. People are reading into this way too much IMO.

Like I've said before...Verb will be much bigger than any of us are thinking. A robot in every OR is what their end game is. The robot they end up with 10 years from now will do Ortho and Spine also IMO. JNJ hiring for a Robotic Spine Product Manager.


https://jobs.jnj.com/jobs/6634160126/WW+Senior+Product+Manager%2C+Spine+%28Robotics%29+%E2%80%93+Franchise+Marketing

no way they have enough to get them through end of year. So either we see another raise and dilution or the new partner has agreed to take over some of the financials through private deal. This would have to be disclosed I would think.

Who is James Shores? What connection to Titan or Verb?

When you click on the link you provided for the Embedded Software Engineer it still says Providence, RI.

When you go to LinkedIn Verb account and look up job listings the same job posting now says Silicon Valley.

Look at it and you'll see that both job postings are from 28 days ago for the same position and Providence is now gone from LinkedIn site.

If Titan had a done deal management wouldn't keep diluting shares at .70 cents. They would get a loan to finish SPORT out and pay it off with the M&A $.

Just announced on SEDAR June 22 is AGM in Toronto. I wanted to go, but will be traveling on business that day. Appreciate whoever can go asking tough yet professional questions and reporting back to the board.

I feel we're still in a great position for M&A once we gain regulatory approvals.

Has anyone confirmed the number of SPORTS that are built or being built since the last MD&A? I looked through the MD&A and I no longer see an exact # called out. I may have over looked it, but EVU's say 2 completed. EEV's don't call out a number anymore. Makes me nervous that they always posted how many units were being built and took it off the last MD&A.

My guess on information due to be released would be design freeze. They've continued to tissue test and I believe someone said the SPORT units are back at Ximedica for "fine tuning". They would freeze design before starting trials or tasks for 510K. Any changes made after the task testing is started would require retesting with any changed components. Therefor we should hear about a design freeze soon if they even announce it.

IMHO this will do NOTHING for PPS.

Great points. If Titan somehow receives 510K by 3rd or 4th qtr 2016 then I would tend to agree a buyout happens soon after. That's a big if. The predicate device route to 510K does happen a lot though. I'm just skeptical that it would happen with a surgical robot. Usually low tech products like trocars or new device within existing line of product.

I really hope your correct with your feeling of a buyout!

Exciting things happening with SPORT lately. The system looks great and if it performs as promised will make us all some $. Not the type of $ I was hoping for when I invested years ago, but a great return. I was of the belief that J&J or now Verb would purchase Titan. I don't believe that will happen unless they find the IP of the snake like arms essential (I hope this is the case).

Medtronic or Verb will become the Apple/Samsung of surgical robotics IMHO. If I had to bet today I would bet on Verb because of Google.

https://finance.yahoo.com/news/strategic-collaborations-m-affect-jnj-150542679.html

I read the above article the other day and it all clicked for me. Stop thinking in our small bubble we keep talking about. Read the article, J&J is putting up to $2 Billion from the sale of Cordis into robotics.

J&J and Medtronic are both working hard to sell across internal surgical segments and share innovation between different surgical divisions. They are the only medical device companies that play in most surgical segments with each having something the other doesn't (Medtronic CV & Cath Lab; J&J Hip & Knee). The executives at both companies aren't dumb. If they come out with a robot that can do everything Intuitive does and do spine, ortho, eyes??? Right now a hospital would have to purchase 4 to 5 robots (Intuitive, Rosa, Mako) or capital to do this. If they develop a robot that can handle all surgical specialties there would be 5-6 or more in every hospital. The challenge is to make is small enough, modular and cost effective.

This won't happen in the next 2 years so we're still all good with Titan and making $, but believe this is the direction and race of what the big boys are working on. That's what makes Titan a small player that will be niche unless they are acquired.

My ultimate wish is Verb acquires Titan and we all cash out big. Then Verb goes public and I'll double down on them after taking out some play money!

Says the guy with 17,000 posts on a message board. If you were any good at what you do you wouldn't be posting 17,000 times on a message board. Get a new hobby and get out of Mom and Dad's basement.

The board has become like watching the far right battle the far left. The actual answer is somewhere in the middle.

Do I still believe in the technology that I'm being told about...yes...if it works as promised. We haven't seen the finished product working, but will very soon. I still believe this solves many problems in the OR and is marketable.

Have some of managements decisions made me think twice...absolutely. If you haven't questioned any of their decisions you should just go to Vegas now and put your $ on black. In the end I'm just a tiny investor and have to rely on managements best judgement. They are in this to make $ also and I do believe have the company's best interest at heart.

I was very excited to hear of the overnight because I felt this meant Betner had earn her $21k a month by brining institutional investors after the road show in late January. This turned out not to be the case and the PPS was pummeled. She has thus far been a complete waste of $ IMO from what I have seen.

In the end my investment was and will be sink or swim and long term.

Can we please stop complaining about things that we have NO control over. Can we stop being over optimistic when things don't look great. Can we get the board back to helping each other with solid information that helps us make investment decisions. That's how the board used to be and it's become a waste of my time to read 90% of the posts.

Thanks... L&S

Per conversation late last year with Titan Management the 2 EV units would most likely not be for use in human trials. This could have changed or they could already have 2 in humans built already built. Q4 info due out within 12 days so we'll have more information then.

Thanks for posting this video explaining what an Overnight is. This made me feel much better about it. Bottom line is we all knew they needed more $ soon and they're getting it now.

Read between the lines hear guys...Titan just did a "Road Show" in New York on January 20&21 for institutional investors. Whoever saw the completed EV unit of SPORT was impressed enough that Titan is able to raise cash overnight. It looks like Titan is finally on the radar and great things should start to happen.

Don't get me wrong I HATE the dilution, but it was coming one way or another. This to me means people who have seen SPORT are impressed enough to invest possibly big $. Look forward to seeing how much and at what PPS tomorrow!

L&S

I hope you're wrong about her. Very low level sales experience with no Hospital Surgical sales background. If that's the type of sales representatives they hire we're in trouble. They need ex Intuitive, Covidien/Medtronic, Stryker, Olympus, Baxter reps... These companies hire & train for the most part (always exceptions) smart and aggressive people.

Probably a relative of the Hargrove family that was in need of a job. She was selling Hospice care prior to this.

Very exciting news that they hired Marketing and quality folks! To hire sales folks at this time would be large overhead and makes zero sense. Look at the backgrounds of the sales reps. Very low level sales.

Again look at the shirt Jarret Lewis is wearing in his LinkedIn profile and you'll see it's an exact match to:

http://titanmedicaldme.com/

Those both look to be for a Titan Medical out of California. I know the link takes you to Titan's website, but look at Jarret's shirt in the picture. Then look at the logo on Titan website out of California.

http://titanmedicaldme.com/

Still the others I believe are new hires. Burn rate probably up by ~$50K per month for salary/benefits. Going back to shelf sooner than later or a plan in place????

I hope this means the woman in New York is out her $21K per month. What a waste of $$$$!

You're correct that this is a very smart move. It's illegal to market a non 510K approved medical device so SPORT will not be on the floor. Could be showed behind closed doors though.

This is why they'll be at AORN -

1 - As you said the meeting is attended by a lot of high level RN decision makers.

2 - Capital budgets for 2017 will be set in 2016. They need to make hospitals aware of SPORT so they know options are coming soon.

3 - Make hospitals aware not to purchase a new robot in 2016 if they can wait another year for SPORT.

I'm still nervous about dilution at these ridiculous PPS, but they are doing the right things.

SPORT is not and will not be the Verb platform. They are working on their own platform with other partners. It will be half the size of SPORT, but is at least 2-3 years out.

The good news is it will take a fair amount of time to develop. I still am confident that if SPORT is completed on time and works as advertised we'll all be very happy.

The only concern I have is Financing, which many have brought up before. They need to address this and minimize the dilution. Not sure what solution they will come up with other than the shelf offering. Hopefully more partnerships with upfront payments to get them through trials and FDA clearance.

Shutting it down for the rest of 2015 to enjoy family and friends. Have a great one yourselves and I'll be back reading in 2016. It should start to get exciting!

Remember that in October J&J issued a $10 Billion stock buy back program. Could this be a small portion of that?

The single use end effectors still need to be sterilized before they are shipped to the customer for use. All single use devices come prepackaged sterile.

I'm not trying to get into a pissing contest. Just another example of how Titan needs to do a better job of communication. Why not say Cadence will develop, manufacture and manage the supply chain, sterilization and distribution of SPORTS reusable snake like robotic arms?

At least we're getting communication finally so I shouldn't complain!

Very possible. I was a believer in the possible Warren takeover theory. IMO it's a long shot and Titan will go alone and possibly be taken over by someone down the road.

Who knows though....we're all trying to do a puzzle without all the pieces.

I sell in the OR everyday and know the difference between "arms" and end effectors. No where does either release mention "arms", you read it that way because you want to believe so bad.

The releases mention instruments and tools NOT arms. The first release even mentions tools & instruments if YOU read it carefully.

Warren may still be a possibility though. Found this on Cadence website. For those who actually work in the OR they will know that's a Harmonic sold be Ethicon. Cadence must manufacture some parts for Ethicon.

http://www.cadencedevice.com/qms/

I just went and looked at J&J's job postings and they all are to "develop highly articulated surgical instruments".

Cadence will be developing SPORTS instruments per today's release.

What's the difference between instruments and end effectors? I thought they are one and the same. Is Cadence the Worldwide supplier and they just named them???

A friend of mine (I got to invest in Titan that probably hates me for it) just told me about an article he read in the most recent Medtech Strategist. I've never heard of this publication? It's an interview with a J&J executive and he's asked about the Google robot partnership. Here's the quote my buddy read to me.

"We've thought long and hard about this because we did have our own robot device in development, much like other companies do. But most companies are going down the big box path. That wasn't where we wanted to go. We think there's an opportunity to bring to market a more capable device for surgeons. We're not going to do the surgery for them, but we'll help make it better with better outcomes."

Makes me think Warren will be a competitor of Titan. I wouldn't consider SPORT a "big box", but it's not as small as what Warren sounds like it's going for. Sounds like J&J had their own robot in development and maybe scraped it for something else???

You're correct on that I believe. I've said before I don't think Titan is Warrens target. Never say never until it's done though. Titan still has tons of potential if they hit the milestones and have a well performing product.

Very well could be. Warren supposed to make an announcement any day per J&J Q3 investors call. Cambridge just finished the prototype, but so did Titan.

It should get very interesting over the next 6 months.

Great start! I'm hoping they pull in the general surgeons to test

Lap Chole
Ventral Hernia
Colectomy

I wonder if they'll post video of any of the test procedures.

Also, to address the Google/J&J rumors. A close friend of mine is a manager there and has repeatedly said they know nothing at all. He did say a surgeon in his area has seen & played with the robot they're working on. Singed an iron clad NDA and won't speak about it. So come on that you spoke to a surgeon that told you any info!!!! A surgeon that works with these guys multiple times a week won't even speak to them, but you called a random surgeon and they opened up to you.

Could be Titan (I strongly don't believe it is) or any other robot, but Google/J&J is closer than we all think. Probably late 2017 release.

By the way Cambridge Medical Robotics said they will show a working prototype in next few weeks.

Maybe management should put that "public information" in the correct perspective so the PPS isn't so low and curb the ongoing dilution. No way at this stage they should be selling shares and warrants at these price levels. This is blatant mismanagement.

If they announce a massive deal we'll all be happy, but they still diluted shares way further than needed. Can't see that this is costing you $ in the end? I could care less about PPS on a day to day basis, but I do care when they let PPS dwindle and then do a raise and dilute shareholder value more than needed.

Just my rant as I'm still holding long.

So if it was all public information already out there why off the record?????

I hope this is the bottom! Not sure it is though. Warren Robotics will be making an announcement any day now. Depending what that is Titan could take a further hit in PPS. This management team better have something locked up already. They're too confident not to have a done deal.
If not they're just BAD business people. I hope one day we all owe JH a big appology.

Yep, just read that. Also states that they feel they will need to raise an additional $30 milly after the distribution deal closes to get to US market launch.

Additional funding will be required, despite completion of the Offering, for the development and commercialization
of the SPORT
TM
Surgical System, currently estimated at approximately US $57 million. At September 30, 2015, the
Company had approximately US $10,085,394 in cash and cash equivalents and working capital of approximately US
$3,644,644 excluding warrant liability. The Company anticipates that it will be able to continue to operate for 3
months from September 30, 2015 based on the current amount of its cash on hand and short term securities and its
current rate of expenditures, not including the proceeds from the Offering or funds received or receivable from
Longtai in connection with the Letter Agreement. If the full proceeds of the Offering are received by the Company,
it is expected that the Company will be able to continue to operate for 5 months from October, 2015 based on the
current amount of its cash on hand, short term securities, the proceeds from the Offering and its current rate of
expenditures. The Company expects that approximately US $30,000,000 in incremental funding will be required by
the end of 2016 to maintain it’s currently anticipated pace of development. If additional funding is not available, the
pace of the Company’s development plan may be reduced and the Company may not be able to continue as a going
concern. See “Risk Factors”