Titan Medical Announces Agreement with Nissha Medical Technologies
June 21 2022 - 7:30AM
Titan Medical Inc. (Nasdaq
: TMDI; TSX: TMD),
a medical device company focused on the development and
commercialization of innovative surgical technologies for single
access robotic-assisted surgery (RAS), today announced that it has
signed an agreement with Nissha Medical Technologies for the
manufacture of surgical consumables. These single-use surgical
components will be used for verification and validation testing,
and pre-clinical and clinical studies of Titan’s Enos™ robotic
single access surgical system.
“We are pleased to be working with Nissha, experts in providing
end-to-end solutions in product design, development, and
manufacturing of single-use medical technologies for our Enos
system,” said Paul Cataford, Interim President, CEO and Board
Chair. “This partnership is an important next step as we begin
verification and validation testing later this year.”
“Nissha Medical Technologies’ vertically integrated design and
manufacturing capabilities are what make this partnership such a
great fit," said Tariq Abalis, Vice President of Business
Development, Nissha Medical Technologies Design and Manufacturing.
"We're looking forward to further supporting Titan Medical in their
advancement of robotic assisted technology.”
About Titan Medical
Titan Medical Inc. (Nasdaq: TMDI; TSX: TMD), a medical device
company headquartered in Toronto, Ontario and with operations in
Chapel Hill, North Carolina, is focused on enhancing robotic
assisted surgery using innovative technology through a single
access point. The Enos™ robotic single access surgical system is
being developed with an ergonomic focus to provide a surgical
experience that imitates real-life movements that surgeons demand
and includes multi-articulating instruments designed to allow
surgeons an increased range of motion in a confined space, with
dexterity and the ability to exert the forces necessary to complete
common surgical tasks. With the Enos system, Titan intends to
initially pursue gynecologic surgical indications.
Enos™ is a trademark of Titan Medical Inc.
For more information,
visit www.titanmedicalinc.com and
follow @TitanMedical on Twitter and LinkedIn.
About Nissha Medical Technologies
Nissha Medical Technologies (NMT), formerly known as Graphic
Controls, is the medical devices business unit and wholly owned
subsidiary of Nissha Co. Ltd., a Japanese publicly held company
based on Kyoto, Japan. Headquartered in Buffalo, New York, NMT
operates seven state-of-the-art production facilities, two
Innovation Centers, and numerous sales offices and distribution
centers worldwide.
NMT is committed to the advancement of patient care with
uncompromising integrity in all aspects of our business. NMT is the
trusted partner in the Design and Manufacturing of single use
medical technologies. Their streamlined process combines decades of
experience to deliver high-quality medical products. They leverage
innovative technologies across their global footprint of unique
capabilities to efficiently meet any customer’s demanding
specifications and timelines.
Forward-Looking Statements of Titan
Medical
This news release contains “forward-looking statements” within
the meaning of applicable Canadian and U.S. securities laws, which
reflect the current expectations of management of the company’s
future growth, results of operations, performance, and business
prospects and opportunities. Wherever possible, words such as
“may”, “would”, “could”, “will”, “anticipate”, “believe”, “plan”,
“expect”, “intend”, “estimate”, “potential for” and similar
expressions have been used to identify these forward-looking
statements, including, without limitation, references to: the
company’s focus on the design and development of surgical
technologies for robotic single access surgery; the use of surgical
components verification and validation testing, and pre-clinical
and clinical studies; the commencement of verification and
validation testing in 2022; the Enos system providing a surgical
experience that imitates real-life movements; and the company’s
intention to initially pursue gynecologic surgical indications with
the Enos system. These statements reflect management’s current
beliefs and are based on information currently available to
management. Forward-looking statements involve significant risks,
uncertainties and assumptions. Many factors could cause the
company’s actual results, performance or achievements to be
materially different from any future results, performance or
achievements that may be expressed or implied by such
forward-looking statements, including, without limitation, those
listed in the “Risk Factors” section of the company’s Annual Report
for the fiscal year ended December 31, 2021, which may be viewed at
www.sedar.com and at www.sec.gov. Should one or more of these risks
or uncertainties materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results,
performance, or achievements may vary materially from those
expressed or implied by the forward-looking statements contained in
this news release. These factors should be considered carefully,
and prospective investors should not place undue reliance on the
forward-looking statements. Although the forward-looking statements
contained in the news release are based upon what management
currently believes to be reasonable assumptions, the company cannot
assure prospective investors that actual results, performance or
achievements will be consistent with these forward-looking
statements. Except as required by law, the company expressly
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise.
ContactKristen GalfettiVice President, Investor
Relations & Corporate
Communications+1-781-869-2553investors@titanmedicalinc.com
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