Titan Medical announced today that it plans to review and evaluate strategic alternatives to unlock shareholder value.

Surgical robotics company described share consolidation as the last option to regain compliance with Nasdaq’s $1 per share minimum bid price requirement and retain its listing.

The goal is to commercially launch Enos in early 2025 after securing a De Novo market authorization from the FDA.

Titan Medical, which has been developing the Sport single-port robotic surgical system, has received U.S. patents for an in-body camera positioning system and hand gesture controls.

Titan Medical, which last year delayed research and development for its Sport surgical robot, has resumed work with new financing and help from Medtronic.

Titan Medical, which has been trying to raise money, and Medtronic, which has been looking to expand its surgical robotics offerings, have signed development, licensing, and loan agreements.

The Sport surgical system, which is intended for minimally invasive gynecological procedures, has been put on hold as Titan Medical looks for more money for R&D and regulatory submissions.

The big winners in October 2019 robotics transactions were in transportation and healthcare, but agriculture, AI, and logistics were also well-represented.

Titan Medical raised $3 million via stock sale to Aspire Capital Fund. This is part of a deal in which the Chicago-based, long-only investment fund has committed to purchase up to $35 million of common shares of Titan Medical through February 28, 2022, according to the SEC filing. According to the agreement, Toronto-based Titan Medical…

Titan Medical has delayed plans for submitting its Sport robotic surgical system to work on further development and funding.

Investments in robots, autonomous vehicles, and related systems totaled at least $1.3 billion in March 2019, down from $4.3 billion in February. On the other hand, automation companies reported $7.8 billion in mergers and acquisitions last month. While that may represent a slowdown, note that many businesses did not specify the amounts involved in their…

Titan Medical Inc. said today that it inked a collaborative development deal with Teleflex Inc. to integrate its polymer ligation technology into Titan’s Sport single-port robotic surgical platform. Toronto-based Titan Medical said that Wayne, Penn.-based Teleflex’s polymer ligation system is intended for vessel sealing and includes an enhanced clip security feature that has been previously used…

Robotic surgical platform developer Titan Medical Inc. said today it closed a $25 million public offering. Titan Medical said that it floated approximately 7.4 million units in the offering at a price of $3.40 per unit. Each unit offered included a single common share of the Toronto-based company and a warrant for an additional common share…

Titan Medical (TSX:TMD) said today it installed a Sport robotic surgical system at the Institut Hospitalo-Universitaire de Strasbourg, marking the 1st installation of the system in Europe and the final planned installation for the company’s feasibility and validation studies. The Toronto-based company said it expects studies to begin at the facility in the fourth quarter of 2017…

Titan Medical (TSX:TMD) said today that it closed a funding round that brought in nearly $4 million more than it was originally expecting, grossing more than $18 million for the Sport robot-assisted surgery device it’s developing. Last month the Toronto-based company upsized the previously announced offering to between $14.1 million and $18 million ((C$18 million to C$23 million), up…

Titan Medical (TSX:TMD) said today it has increased the size of its previously announced offering to between $14.1 million (CDN $18 million) and $18 million (CDN $23 million), up from between $10.2 million (CDN $13 million) and $11.7 million (CDN $15 million). The Toronto-based company said it is looking to offer units at approximately 39¢ (CDN…

Titan Medical (TSX:TMD) today touted the 1st use of its Sport robotic surgical platform in a preclinical feasibility and validation trial at Columbia University Medical Center’s surgical simulation center in New York. The Toronto-based company said the device had completed “critical surgical tasks integral to successful performance in gynecologic procedures” using the prototype Sport system. The demonstration…

Titan Medical (TSX:TMD) today priced a previously announced offering of units, looking to raise between $10.2 million (CDN $13 million) and $11.7 million (CDN $15 million) by floating units at 39¢ (CDN 50¢) each. Each unit in the offering is comprised of one common share of the company and the purchase warrant for an additional…

Titan Medical (TSX:TMD) late last week reported its third quarter financial results, touting that the the company met all its published milestones for the fiscal quarter. The Toronto-based medical robotics company said it already has two facilities using its Sport platform for preclinical feasibility and validation studies and that it plans to launch additional studies…

Titan Medical (TSX:TMD) said today it added an approximate $300,000 to a private placement round that closed earlier this month alongside raising $6.5 million (CDN $8.4 million) from exercising share purchase warrants. The Toronto-based robotic surgical platform developer said that it raised a total of $2.6 million (CDN $3.3 million) through the placement of 13.4 million…

Titan Medical (TSX:TMD) said today it raised $2.3 million (CDN $2.9 million) in a private placement round looking to support continued development of its Sport robotic surgical system. In the offering, the Toronto-based company said it floated 11.5 million common shares at 20¢ (CDN 25¢) per share to a group including more than a dozen robotic surgeons…

Titan Medical announced the installation of its SPORT Surgical System, a single-port robotic surgical system, at the Florida Hospital Nicholson Center training facility. It’s the first installation for the company’s pre-clinical feasibility and validation studies on the device. “We are thrilled to announce the first of three installations planned in U.S. and European Centers of…