Titan Medical Inc. is a Canadian public company, headquartered in Toronto, Ontario, and listed on the Toronto Stock Exchange (TMD) and on the OTCQX in the United States (TITXF).
Titan is developing the SPORT™ Surgical System for use in minimally invasive surgery (“MIS”). The SPORT™ Surgical System is expected to be commercially available in late 2016 in Europe and in mid-2017 in the United States.
The SPORT™ Surgical System consists of:
An innovative, surgeon-controlled robotic platform that includes a 3D high definition vision system and multi-articulating instruments for performing MIS procedures; and
A surgeon workstation that provides the surgeon with an advanced ergonomic interface to the robotic platform for controlling the instruments, as well as a 3D view inside the patient’s body cavity during MIS procedures.
The robotic technology currently available on the market is cost prohibitive for secondary and tertiary hospitals, as well as for ambulatory surgery centers, and is confined to a limited number of surgical procedures, such as hysterectomies and prostatectomies. Titan’s highly differentiated SPORT™ Surgical System is being designed to expand robotic surgery into areas that are currently underserved, including general abdominal, gynecologic, and urologic procedures, in a cost-effective manner.
On December 21, 2015, Titan announced the completion of the initial SPORT™ Surgical System for use in engineering verification to measure performance in relation to design specifications and to measure compliance with regulatory guidelines. This initial build of the surgical system is a precursor of the systems that will be built in early 2016 for first-in-human trials.
Development of the SPORT™ Surgical System has proceeded in response to “voice of customer” feedback and in consultation medical technology development firms engaged by Titan and the Titan’s Surgeon Advisory Board comprised of world-renowned surgeons affiliated with leading institutions, including Columbia University, Mayo Clinic, and UCLA.
