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Trading was halted.
"Titan medical signs asset purchase and license agreement with medtronic"
https://ir.titanmedicalinc.com/news-events/press-releases/detail/391/titan-medical-signs-asset-purchase-and-license-agreement
Well said. Except we've been punched, kicked in the nuts and bent over many times before, so I don't know what else they can do. But agree ceo needs to be held accountable.
Same tactics here over and over and over. Delay after delay after delay. Damm sickening. Dead money for another year? Back to .25 and 90% losses for me just in time for Christmas. How can the ceo still hold his job?
A little shout out to titan would be nice.
First Gynecological Procedures Performed with Medtronic Hugo™ Robotic-Assisted Surgery System.
https://newsroom.medtronic.com/news-releases/news-release-details/first-gynecological-procedures-performed-medtronic-hugotm
Just something to consider. We went from building a system and commercializing it, to just building a system, to now just building technologies? What exactly is the end game here? FDA approval for enos and then a buy out or just crank out and license "technologies" in the lab? I dont really care. Been invested here for about 4 years. Never sold. Still in the red by many many many many thousands. I'm sure you would understand why I'm cautiously optimistic. Good luck to us all.
November 01, 2019 3:29pm EDT
TORONTO--(BUSINESS WIRE)-- Titan Medical Inc. (“Titan” or the “Company”) (TSX:TMD) (Nasdaq:TMDI), a medical device company focused on the design, development and commercialization of a robotic surgical system for application in minimally invasive surgery
January 27, 2020 8:28am EST
TORONTO--(BUSINESS WIRE)-- Titan Medical Inc. (“Titan” or the “Company”) (TSX: TMD) (Nasdaq: TMDI), a medical device company focused on the design and development of a single-port robotic surgical system for application in minimally invasive surgery
June 04, 2020 7:30am EDT
TORONTO--(BUSINESS WIRE)-- Titan Medical Inc. (“Titan” or “Titan Medical”) (TSX: TMD) (Nasdaq: TMDI), a medical device company focused on the design and development of single-port robotic surgical technologies,
Has anyone listened to this podcast? Worth listening to entire 30mins, Megan speaks about growth and hugo from 16:42 mark.
"In this episode, two of the executives leading Medtronic’s push into robotics surgery update listeners on the progress and potential of Medtronic's MAZOR X Stealth and Hugo RAS system platforms.
Megan Rosengarten, president of surgical robotics, says HUGO is poised to deliver surgeons newfound capabilities and options. The company hopes to begin selling the system later this year after filing for a CE Mark in Europe and an IDE with the US Food and Drug Administration.
We also speak with Linnea Burman, vice president and general manager, enabling technologies, about Medtronic’s cranial and spinal offerings including the spine surgical robot, Mazor."
https://soundcloud.com/medtronictalks/from-mazor-to-hugo-and-beyond-where-does-medtronic-see-opportunities-in-robotic-surgery
Hugo gets IDE approval. No doubt with thanks to our IP and Eng efforts. You think we would grab a few pennies off that good news? Lets go ENOS.
"CEO Geoff Martha announced to analysts that FDA has granted the company’s much-anticipated Hugo robot an investigational device exemption approval."
"CFO Karen Parkhill added: “Two of our largest opportunities are surgical robotics and renal denervation. We’re purposely making significant investments in them to ensure we fully capitalize on the multi-billion dollar opportunities ahead.”
https://www.massdevice.com/medtronic-beats-the-street-in-q4-increases-dividend-by-9/
Was thinking same thing. Who the hell pr's 10m payment and milestone news on a long weekend. Already voted no.
Well said. I'm still down about 45% thou, despite throwing a lot into this. I believe the technology will eventually pay off, for all of us.
We also got another patent yesterday. Neat one, whereby the operator grabs the hand grips, gets comfortable, presses a button and the entire console moves to an optimum ergonomic height.
https://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PTXT&s1=%22titan+medical+inc%22&OS=%22titan+medical+inc%22&RS=%22titan+medical+inc%22
Nice find. Thanks for posting.
I'm afraid I don't see it as a good thing. I see the competition doing what we are afraid to tackle head on. For example, we spent time and money on a surgeon training platform. What's the point of a trg platform if we haven't even attained design freeze? They got approval without a training platform in place. We shudder at the sound of de Novo, as we were led to believe time and cost projections would be astronomical, when as noted it is a pathway for low to moderate risk devices = "much easier approval process" as you point out. We should have had our single port system by now. Clinical trials not till end of next year? FDA in 2023? What is the delay?
aimho
Congrats to others in the RASD space. The FDA granted marketing authorization of the Hominis Surgical System to Memic Innovative Surgery Ltd.
https://www.fda.gov/news-events/press-announcements/fda-authorizes-first-robotically-assisted-surgical-device-performing-transvaginal-hysterectomy
https://www.memicmed.com/
Trading halted on TMD. Price was 4.20cdn.
Merry christmas fellow titan longs. All the best to you and your families. Our time will come.
Good find. thks. i think the "robotic surgery system" one is prob responsible for this little rally. happy thanks giving to u all south of the border. glta
Encouraging that it shouldn't be anything that could really hold us back.
Once again thanks for feedback.
I plan too. Thank you for that brilliant advice.
Appreciate your very informative posts. Exactly the kind of info we need to try and piece this puzzle together.
Do you think not having a third arm can be a major factor for titan not being able to gain any traction with their 2 armed offering? Can it be as simple as that?
Like other longs I am completely baffled why we sit at sub 1 with all of the patents, testing, reviews and interest from medtronic. Something just doesn't add up.
TIA
True. They don't have and as far as we know are not building a single access robot. If they agree with the fact that isrgs single port offering is growing their revenue, then enos may become a potential buyout target. Would be a prudent move in my small simple minded opinion. How this plays out is anyones guess.
Excellent. As It only has 6 arms attached to the bed it is in no way a competitor to our very protable single port offering. Mdt can utilize our ip and crank out a nimble multi and hopefully our, single port sys well ahead of the rest.
Aimho
Hope I'm not a little too early.
BUT This has to be the absolutely, without a doubt, last year we get coal in the xmas stockings from tmd. I mean really! Even the kids aren't buying that story any more. They say every year its next year. Jenny got a new barbie. Greg got a new skateboard. All we ever get is a lump of coal. Hang in there kids were teamed up with the worlds largest medical device company. Did i say largest. They just walked out on me. Arghh.
Will do. I haven't looked them up yet. Was trying to keep up with covidiens ip portfolio which is massive and will take some time to see which are directly pegged to hugo.
Yes there is competition and yes we should be discussing the sector etc instead of engaging in bs talk with shorts. Thats why i guess a more constructive board is trying to take shape elsewhere.
Its good to note that mdt, the worlds largest medical device co, is also our competitor. They could have reached out to other start ups for help but for some reason they decided to bet on a huge market potential with titans ip.
I dont know how this plays out. Frustrating as heck so far. I hope we see some real progress soon.
ENOS trademark info. This is was 6 weeks ago!
Sep. 22, 2020 NOA E-MAILED - SOU REQUIRED FROM APPLICANT
https://tsdr.uspto.gov/documentviewer?caseId=sn88444220&docId=ALW20200922005948#docIndex=0&page=1
We racked up 3 more US patents today. Haven't had time to dig thru them all but at least IP portfolio is growing slowly. They need to PR every single one to add some bloody shareholder value. We deserve it!
United States Patent 10,820,955
Lutzow , et al. November 3, 2020
Method and apparatus for positioning a workstation for controlling a robotic system
United States Patent 10,820,953
Kralicky , et al. November 3, 2020
Autonomous correction of alignment error in a master-slave robotic system
United States Patent 10,820,791
Chinnock , et al. November 3, 2020
Method and apparatus for illuminating an object field imaged by a rectangular image sensor
http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=0&f=S&l=50&TERM1=titan+medical+inc.&FIELD1=&co1=AND&TERM2=&FIELD2=&d=PTXT
Hmm. Yet another very critical, US Patent issued today. They wish these could slip by under the radar. Or are they. Wouldn't want sp to reflect in any way the true value of what is brewing. Good thing the communications team is on top of things.
United States Patent 10,813,712
October 27, 2020
"Actuator and drive for manipulating a tool"
http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PTXT&s1=%22titan+medical+inc%22&OS=%22titan+medical+inc%22&RS=%22titan+medical+inc%22
Nice the board has an officer and a gentleman onboard. Were all locked and loaded unless someone hits send by mistake and leaks the top secret weaponized snake arms blueprints to the entire world.
Nice of them to PR Genova's new title of "President of Titan Medical USA", Should we the shareholders not be informed of things like this.
AIMHO
Was actually thinking if the redacted parts say titan has to help Mdt get ide / fda first, as they have the resources to do so. Then titan slips in behind using the predicate route. If they are getting married at some point i dont really care who wears the pants, us shareholders simply need the sp to reflect the fact either company will deliver a viable robot. Just dont add up. why would martha say they are hopefully looking at ide in less than 6 months, by Q1 2021. Thats fast for a company with not much to show to date? Lack of transparency continues here. Frustrating as heck. Need liv to beef up the prayers for us all.
AIMHO
Im surprised sp is holding after hearing that IDE application is at least a year out. I am super pissed with that. Genova and jazzy can stay but the rest need to be shown the way out very quickly.
Amigo
I fully aware milestone 2 came before 1. Milestone 1 specifies no later than 4 months from june 3rd. I dont see any allowances for delays in milestones in the agreement? I agree There is a process for milestone deficiencies. Are u saying they cant even hit the 1st bloody milestone on schedule? Really. Then we are doomed.
Yeah but mdt has publicly stated they'll be in a position to file for IDE in 1st Q of 2021 calender year. So we are not tied to them? No transparency here. No Wonder we voted no to rev split. Incredible.
Aimho
Is milestone 1 delayed? Where is nov coming from. Its 4 months from june 3rd. So oct 3rd. What am i missing here apart from half a brain for getting stuck in this mess.
Only semi positive news was genova saying they're essentially on the downhill phase of develpoment and seeing enos in action looking like a finely tuned robot with new software. Which raises the question why the hell is ide application at least a year out?
Seriously. Who cares what they name it. As long as we actually get fda approval it will be priceless. Only the 2nd single port robot in the world. Thats why were all here.
"Martha said this week that the company has been able to manage through previously disclosed disruptions related to COVID-19 — as well as resolving software issue. The plan is to file for CE Mark and U.S. IDE approval in early 2021.
“We’re going to be a meaningful player in this market. Go big or go home,” Martha said."
Sounds alot like the predicament were in? Milestone 3 is due in Q1 2021 as well? Redacted of course. Lets hope we longs can survive until then.
AUGUST 27, 2020 BY CHRIS NEWMARKER
https://www.massdevice.com/7-technologies-to-make-a-new-medtronic-even-more-powerful/2/
Agreed, not expecting too much from agm. Lets not forget milestone 1 is due 4 months from agreement start date. So by oct 3 or 4th. News of 10M more to titan will hopefully begin to move us upwards. Mdts oct 14th "guidance" should provide further support.
AIMHO
Post how many shares you have. Lets see how much power we collectively have.
I've got 75800
Per the agreement:
3.2 ownership of developed ip
Medtronic will own all future patents developed by either parties as of the date of the agreement.
All patents granted, to which the other party had no involvement remains solely owned by that party. So the patent issued on 15th is titans property.
Having said that,
3.3 developed ip cross licences
Both parties grant full access to to each others ip portfolio. No limits.
So how do you separate the ip after the agreement ends? Impossible i say. Mdt has resources to pay licence fees ( forever?) to tmd but not the other way. So no way tmd utilizes a single mdt patent in its own robot?
I think and hope liv is right about an eventual bo, as the legal issues re the ip will be mind boggling. Not sure if any of this makes sense. Feel free to comment.
"Medical Robotic Systems Market to Expand at 21.5% CAGR and Reach USD 10,710.6 Million"
"The rapid shift from conventional open surgeries towards minimally invasive surgical procedures is another major factor accelerating growth of the market. The efficiency of surgical robots to perform laparoscopic surgical procedures is getting higher by the day. This is further helping to increase the demand for medical robots, thus boosting the market globally"
"Market players are investing huge sums in the research and development for upgrading surgical robots and other medical robots in order to provide better medical assistance."
Granted I don't have access to full article but excerpts show how things are heating up.
https://www.fortunebusinessinsights.com/press-release/medical-robotic-systems-market-9181