- Titan Medical (TMD) has signed a definitive development agreement with Medtronic
- The agreement concerns a limited robotics development program and a preclinical collaboration to evaluate the performance of instruments and cameras in gynecological procedures
- The agreement also finalizes Medtronic’s recent $2.6 million purchase order for Titan instruments and cameras
- Titan Medical is a medical device company focused on enhancing robotic-assisted surgery
- Titan Medical (TMD) is up by 3.23 per cent, trading at $0.64 per share
Titan Medical (TMD) has signed a definitive development agreement with Medtronic.
Medtronic is a global leader in medical technology, services and solutions. Its innovations treat over 70 health conditions and reach patients in over 150 countries.
The agreement pertains to a limited development program, building on the successful completion of the June 2020 agreement between the companies to further the development of robotic-assisted surgical technologies.
Additional activities include a preclinical collaboration to evaluate the performance of instruments and cameras in gynecological procedures, with the potential for supplying Medtronic with these devices in the future.
The agreement also finalizes Medtronic’s $2.6 million purchase order for Titan instruments and cameras in May 2022.
“The closing of this definitive agreement is an advancement for our relationship with Medtronic and for Titan as we move towards commercialization activities,” stated Cary Vance, President and CEO of Titan. “We view the activities associated with this definitive agreement as additional methods of enhancing our know-how in single-access RAS technology and further benefitting our own Enos RAS platform.”
Titan Medical is a medical device company focused on enhancing robotic-assisted surgery (RAS) using innovative technology through a single access point.
Titan Medical (TMD) is up by 3.23 per cent, trading at $0.64 per share as of 9:31 am EST.
