Titan Medical secures $34.8 million from public offering
Titan Medical, a publicly-traded Canadian start-up company developing a robotic surgical system for minimally-invasive surgeries, announced the completion of two rounds of public offering totally $34.8 million.
The funds will enable Titan to focus totally on bringing their new system to commercialization in late 2015.
Titan Medical’s Single Port Orifice Robotic Technology (SPORT™) will be a surgeon-controlled single-incision robotic platform and 3D vision system. The system is currently being designed, developed and prepared for pre-clinical planning with the FDA and initiating the outside-of-the-US CE approval process (early 2015). Titan, after securing the CE and as FDA trials are under way, plans to begin high volume production In the 2nd half of 2015.