Key Developments: Titan Medical Inc (TMD.V)
0.60CAD
18 Jun 2013
$0.01 (+1.69%)
$0.59
$0.60
$0.60
$0.60
1,518
126,891
$1.53
$0.46
Latest Key Developments (Source: Significant Developments)
Titan Medical Inc Announces Chairman and CEO Change
Titan Medical Inc announced that Craig Leon will be stepping down as the Company's Chairman and Chief Executive Officer (CEO), effective immediately. John Hargrove, a director of the Company, will be appointed as Chairman and interim CEO. The Board of Directors will also be establishing a search committee for a new permanent CEO. Full Article
Titan Medical Inc Files Prospectus Supplement for Unit Offering
Titan Medical Inc announced that it has filed a prospectus supplement dated March 7, 2013 to its short form base shelf prospectus dated October 15, 2012 with securities regulators in respect of its previously announced offering of securities (the Offering). The Offering will consist of a minimum of 3,809,524 units and a maximum of 6,666,667 units from treasury of the Company at a price of $1.05 per Unit for minimum gross proceeds of approximately $4,000,000 and maximum gross proceeds of approximately $7,000,000. Each Unit will consist of one common share of the Company and one common share purchase warrant entitling the holder thereof to purchase one common share of the Company at $1.25 during the 5 years following closing of the Offering. In connection with the Offering, the Company has entered into an agency agreement with Beacon Securities Limited and another agent dated March 7, 2013 (the Agency Agreement), pursuant to which Beacon has been engaged to act as placement agent in respect of sales in Canada and the other agent in respect of certain other jurisdictions, in each case on a best efforts agency basis. Pursuant to the Agency Agreement, the Company has granted Beacon an over-allotment option, exercisable in whole or in part at any time and from time to time for a period of 30 days following the closing date of the Offering, to offer for sale up to such number of additional Units and/or Warrants as is equal to 15% of the number of Units issued under the Offering. Full Article
Titan Medical Inc Announces Equity Offering
Titan Medical Inc announced that an equity offering (the Offering) through Beacon Securities Ltd. (Beacon) in Canada and Agents in certain other jurisdictions. The Offering will consist of a minimum of 3,809,524 units and a maximum of 6,666,667 units (the Units) from treasury of the Company at a price of $1.05 per Unit for minimum gross proceeds of approximately $4,000,000 and maximum gross proceeds of approximately $7,000,000. Each Unit will consist of one common share of the Company and one common share purchase warrant entitling the holder thereof to purchase one common share of the Company at $1.25 during the 5 years following closing of the Offering. The net proceeds from the Offering will be used to fund continued research and development for the Company's Amadeus robotic surgical system-platform and for working capital and general expenses. The terms of the Offering will be described in a supplement to the Company's Short Form Base Shelf Prospectus dated October 15, 2012 (together, the Prospectus) to be filed in the provinces of Ontario, British Columbia and Alberta. The Company has engaged Beacon as placement agent in respect of sales in Canada pursuant to the Prospectus and Agents in certain other jurisdictions (together with Beacon, the Agents), in each case on a best efforts agency basis. The Company expects that the Offering will close on or about March 12, 2013. Full Article
Titan Medical Inc Announces Issuance Of U.S. Patent
Titan Medical Inc announced the issuance of U.S. Patent No. 8,332,072 from the United States Patent and Trademark Office (USPTO). The patent covers aspects of the Company's development of a surgeon console that incorporates force feedback. Full Article
Titan Medical Inc Announces Issuance Of U.S. Patent
Titan Medical Inc announced that the United States Patent and Trademark Office (USPTO) has issued U.S. Patent No. 8,306,656. The Company now has 5 granted U.S. patents and 12 patent applications filed in the U.S. or under the Patent Cooperation Treaty. The Company continues to expand its patent portfolio by filing patent applications with various patent offices as new technologies pertaining to surgical systems are developed and refined. Full Article
Titan Medical Inc. Secures U.S. Patent
Titan Medical Inc. announced that the United States Patent and Trademark Office (USPTO) has issued U.S. Patent No. 8,224,485 titled Snaking Robotic Arm with Movable Shapers. The patented technology includes the use of micro-electro-mechanical systems (MEMS) in flexible snake-like robotic arms that may be utilized in surgical robotic applications. Full Article
Titan Medical Inc. Announces Research Agreement with ARMA Lab at Vanderbilt University
Titan Medical Inc. announced that it has signed a research agreement with Vanderbilt University for the testing and evaluation of the Company's Insertable Robotic Effector Platform in conjunction with the Advanced Robotics and Mechanism Applications Research Laboratory ("ARMA lab") headed by Dr. Nabil Simaan, associate professor of mechanical engineering who is affiliated with the newly established Vanderbilt Initiative in Surgery and Engineering (VISE) at Vanderbilt University. Under the terms of the agreement, ARMA lab will perform testing of the IREP, which include exploratory, workspace, engineering, and tissue testing over an eight week period. The results and evaluation of the IREP will layout the development and clinical plans necessary for regulatory submission and commercialization of the IREP. Full Article
Titan Medical Inc. Files Prospectus Supplement For Unit Offering
Titan Medical Inc. announced that it has filed a prospectus supplement (the Prospectus Supplement) on March 8, 2012 with securities regulators in respect of its previously announced offering of securities (the Offering). The Offering consists of a maximum of 1,986,755 units (Units) which will be offered at $1.51 each (the Offering Price), for gross proceeds of up to $3,000,000. Each Unit will consist of one common share and one warrant. Each whole warrant will entitle the holder to purchase one additional common share for $1.77 during a term of 60 months following closing of the Offering. Full Article
Titan Medical Inc. Announces Equity Offering
Titan Medical Inc. announced an equity offering through Octagon Capital Corporation (Octagon). The Offering will consist of up to 1,986,755 units from treasury of the Company at a price of $1.51 per Unit for gross proceeds of up to $3,000,000. Each Unit will consist of one common share of the Company and one common share purchase warrant, entitling the holder thereof to purchase one common share of the Company at $1.77 during the 5 years following closing of the Offering. The net proceeds from the Offering will be used to fund continued research and development for the Company's Amadeus robotic surgical system-platform and for working capital and general expenses. The terms of the Offering will be described in a supplement to the Company's Amended and Restated Short Form Base Shelf Prospectus, dated November 1, 2010, to be filed in the provinces of Ontario, British Columbia and Alberta. The Offering is subject to execution of an agency agreement with Octagon and will be subject to customary conditions, including the approval of the TSX Venture Exchange. The Company expects that the Offering will be fully subscribed and will close on or about March 13, 2012. Full Article
Titan Medical Inc. Enters Into Exclusive License Agreement with Columbia University for Novel Single Port Robotic Surgery System
Titan Medical Inc. announced that it has entered into an exclusive license agreement with Columbia University for a novel single port robotic surgery system, The Insertable Robotic Effector Platform ("IREP"). Under the terms of the agreement, the Company will have exclusive rights to the development and commercialization of the intellectual property of IREP, developed by Dr. Nabil Simaan. Full Article
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