Titan Medical Inc. (“Titan” or the “Company”)
(TSX:TMD) (OTCQB:TITXF), a medical device company focused on the
design, development and commercialization of a robotic surgical
system for application in minimally invasive surgery (“MIS”),
reports the successful first use of its SPORT Surgical System in
Europe. These studies in general and urologic surgery at the
Institute of Image-Guided Surgery at the Institut
Hospitalo-Universitaire de Strasbourg, France (“IHU Strasbourg”)
are part of the feasibility and validation studies intended to
support regulatory submissions.
David McNally, President and CEO of Titan
Medical, said, “After our installation of the SPORT system at IHU
Strasbourg earlier this month, surgeons have now successfully
completed the first preclinical single-port robotic surgeries in
Europe using the SPORT system. We are honored that highly-regarded
surgeons Pr. Lee Swanstrom from IHU Strasbourg, Dr. Jelle Ruurda
from University Medical Center Utrecht, the Netherlands, and Dr.
Eric Barret from Institut Mutualiste Montsouris, Paris, directed
and performed a variety of abdominal, oncologic and urologic
procedures. These first-use studies provide valuable insight into
procedures we may focus on during commercialization.”
Lee Swanstrom, MD, FACS, Chief Innovation
Officer of IHU Strasbourg, said, “I was pleased with my first
experience with the SPORT system for applications in abdominal
procedures. There are many patients undergoing general surgical
procedures who could greatly benefit from a reduced number of
incisions. Single-port robotic surgery can be a truly enabling
solution for patients and surgeons alike, and it is exciting to see
that the SPORT system takes us much closer to that
possibility.”
Jelle Ruurda, MD, a gastrointestinal and
oncologic surgeon at University Medical Center Utrecht, who has
several years of robotic surgery experience, commented, “Many
oncologic general surgery procedures require specimen retrieval at
the end of the procedure. These procedures are natural applications
for single-port robotic surgery. My first operation of the SPORT
system in a preclinical environment was very exciting, and the
system shows great promise for future clinical use. I look forward
to the opportunity to work together with Titan Medical to evolve a
single-port robotic surgery option for my oncology patients. Based
on this first experience, I am confident that single-port robotic
surgery has a bright future.”
Eric Barret, MD, a world-renowned robotic
urologic surgeon at Institut Mutualiste Montsouris, said, “Having
performed many single-incision robotic surgeries with flexible,
non-wristed and crossed-over instruments, my first experience with
the SPORT system was exceptional. The SPORT system addresses many
limitations of previous laparoscopic and robotic single-incision
surgery approaches, and holds significant promise for meaningful
use in urologic applications.”
Mr. McNally concluded, “Titan has now
successfully installed SPORT systems at all three Centers of
Excellence in the United States and Europe, on or ahead of
schedule. With the planning and guidance of respected laparoscopic
and robotic surgery experts, we have observed the first single-port
robotic surgery procedures performed with the SPORT system in
gynecologic, urologic, general surgery and colorectal specialties.
The objectives of each of the preclinical surgeries have been
accomplished. The achievement of these milestones sets a strong
foundation for us to build on in 2018, as we prepare for our
regulatory submissions and commercialization.”
About the Institute of
Image-Guided Surgery / IHU Strasbourg,
France
The Institute of Image-Guided Surgery is a
unique medical and surgical center dedicated to the management of
digestive diseases. It develops innovative surgery to deliver
personalized patient care, combining the most advanced minimally
invasive techniques and the latest medical imaging methods.
The Institute is:
- A healthcare center offering personalized treatment
using the least invasive techniques;
- A research center gathering teams to design and
develop instruments and procedures for the future;
- An international training center for professionals
and students driven to learn the most advanced minimally invasive
practices; and
- An innovation hub to foster technology transfer through
industrial partnerships and creation of startups.
The Institute is a designated part of the
“Programme Investissements d’Avenir” and benefits from the
financial support of the French government managed by the “Agence
Nationale de la Recherche.” The Institute is also funded by the
Région Grand Est, the Conseil Départemental du Bas-Rhin, the
Eurometropole de Strasbourg and the European Union.
For more information, please visit IHU
Strasbourg’s website at www.ihu-strasbourg.eu/ihu/en/.
About Titan Medical Inc.
Titan Medical Inc. is a Canadian public company
focused on research and development through to the planned
commercialization of computer-assisted robotic surgical
technologies for application in minimally invasive surgery. The
Company is currently developing the SPORT Surgical System, a
single-port robotic surgical system. The SPORT Surgical System is
comprised of a surgeon-controlled patient cart that includes a 3D
high definition vision system and multi-articulating instruments
for performing MIS procedures, and a surgeon workstation that
provides the surgeon with an advanced ergonomic interface to the
patient cart and a 3D endoscopic view inside the patient’s body
during MIS procedures. With the SPORT Surgical System, the Company
aims to pursue a broad set of surgical indications, including
general abdominal, gynecologic and urologic procedures.
For more information, please visit the Company’s
website at www.titanmedicalinc.com.
Forward-Looking Statements
This news release contains “forward-looking
statements” 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. These statements reflect management’s current beliefs
with respect to future events 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
Information Form dated March 31, 2017 (which may be viewed at
www.sedar.com). 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 current or
prospective investors that actual results, performance or
achievements will be consistent with these forward-looking
statements.
Contacts:
LHA Investor Relations Kim Sutton Golodetz(212)
838-3777kgolodetz@lhai.com orBruce Voss(310)
691-7100bvoss@lhai.com
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