TMDI - TMDI STOCK NEWS

Titan Medical Inc. (NASDAQ: TMDI; TSX: TMD) has surpassed 200 patents and patent applications, affirming its commitment to innovation in single access robotic-assisted surgery. Recent patents include a robotic instrument graphical user interface and novel patient cart designs. The company aims to enhance surgical outcomes and hospital efficiency with its Enos surgical system. Titan has licensed about one-third of its patent portfolio to third parties, generating upfront fees, while exploring further collaboration opportunities to expand its revenue streams and geographical presence.

Titan Medical Inc. (Nasdaq: TMDI) announced a successful milestone achievement with Medtronic plc, resulting in an $8.3 million net payment. This payment comprises a $10.0 million milestone fee and $0.6 million for legal and transaction costs, with a portion used to retire a $2.3 million senior secured loan. The agreements, initiated on June 4, 2020, focus on advancing robotic surgical technologies. Titan retains worldwide rights to its technologies, which supports the development of its Enos™ robotic surgical system.

Titan Medical Inc. (TMDI) has signed a manufacturing and supply agreement with Benchmark Electronics (BHE) for the production of its Enos™ robotic surgical system workstations and patient carts. The partnership aims to support human studies planned for 2023, which are essential for the company's FDA De Novo application for marketing clearance. Benchmark's expertise in complex medical device manufacturing and engineering is expected to enhance the quality and scalability of Titan's production capabilities, reinforcing Titan's position in robotic surgery innovation.

Titan Medical Inc. (NASDAQ: TMDI) has announced its participation in the H.C. Wainwright & Company BioConnect 2022 Conference, a virtual event taking place January 10-13, 2022. Paul Cataford, interim President and CEO, will lead the presentation along with CFO Stephen Lemieux. The company's presentation will be available on January 10th at 7:00 am ET on their website. Titan Medical focuses on developing innovative robotic-assisted surgical systems, with plans to initially pursue gynecologic surgical indications using their Enos™ system.

Titan Medical Inc. (Nasdaq: TMDI; TSX: TMD) announces the successful completion of the final milestone under its development and license agreement with Medtronic plc (NYSE: MDT). This achievement will facilitate Titan's receipt of a license payment and the retirement of Medtronic's secured loan to Titan, expected within this month. The technologies developed may be used by both companies, with Titan retaining global rights for its Enos™ robotic surgical system. CEO Paul Cataford highlights the significant collaboration and achievement amidst COVID-19 challenges.

Titan Medical Inc. (NASDAQ: TMDI) has been notified by Nasdaq that it is not in compliance with the minimum bid price requirement of $1.00 per share, as its closing bid price has been below this threshold for 30 consecutive business days. The company retains 180 days to regain compliance, until June 28, 2022. This notification does not affect its listing status on the Nasdaq Capital Market or the Toronto Stock Exchange. Titan Medical is focused on developing its single access robotic-assisted surgical system for gynecologic indications and is evaluating options to resolve this deficiency.

Titan Medical Inc. (NASDAQ: TMDI) announced that David McNally has resigned as President and CEO, effective immediately. Paul Cataford, Chair of the Board, has been appointed as Interim President and CEO. The Board will begin the search for a permanent CEO in early 2022. Cataford expressed optimism about Titan's fundamentals and the upcoming clinical trials for the Enos™ robotic surgical system. This system is designed to enhance robotic-assisted surgeries and boasts a significant intellectual property portfolio, including over 190 patents.

Titan Medical (NASDAQ: TMDI) reported significant developments and challenges in its Q3 2021 results. The company's cash reserves increased to $44.7 million, up from $25.5 million a year prior. However, R&D expenses surged to $10.6 million, reflecting ongoing work on the Enos robotic system. The IDE application is now expected in Q1 2023, with the commercial launch projected for early 2025. Titan is enhancing its manufacturing capabilities and expanding its advisory board to support the upcoming clinical study.

Titan Medical Inc. (Nasdaq: TMDI) has announced new members to its Surgeon Advisory Board (SAB), aimed at enhancing its Enos™ robotic surgical system development. The SAB comprises leading experts in robotic-assisted surgery who will guide the company through upcoming clinical studies following its FDA investigational device exemption application. CEO David McNally expressed confidence in the SAB's expertise to improve surgical training programs and broaden the system's adoption post-regulatory clearance. Previously, the SAB contributed to identifying potential applications for the Enos system in various subspecialties.