TITAN MEDICAL INC COM NPV
TITAN MEDICAL INC COM NPV (OTCMKTS:TITXF) jumped 9.57% after announcing a partnership with Columbia University to carry out sport feasibility and validation studies for its SPORT Surgical System. The studies, to commence in the fourth quarter, are to be performed at the University’s surgical simulation center.
Columbia University Partnership
A partnership with Columbia University follows the completion of the world’s first gynecologic, colorectal, and urologic single-port robotic procedure. The procedures marked the first pre-clinical feasibility and validation studies as TITAN MEDICAL INC COM NPV (OTCMKTS:TITXF) prepares for regulatory submission.
TITAN MEDICAL INC COM NPV (OTCMKTS:TITXF) has been trading. The stock is already up by more than 60% over the past month as it continues to trade in an uptrend. However, it is down by more than 50% for the year after dropping from $0.48 a share mark.
The hype around the Titan Medical SPORT Surgical System represents a growing belief that Single port robotic surgery has the potential to be the next frontier in urology and gynecology surgery.
“The SPORT Surgical System has the promise to become a valuable tool for all robotic surgeons looking to do single port surgery in the future,” said Eduardo Parra-Davila, M.D., a robotic colorectal surgeon at Florida Hospital.
New milestones with the SPORT Surgical system appears to have strengthened investors’ confidence on Titan Medical. A partnership with Columbia University marks yet another critical milestone on the company’s push to create collaborations with strategic centers of excellence.
“Through this collaboration, Titan’s SPORT system will be installed at the Roy and Diane Vagelos Education Center, a brand new state-of-the-art medical and graduate education center with full access to laboratory facilities as well as Columbia’s multi-specialty and world-renowned surgeons,” said CEO David McNally.
The partnership builds on similar agreements with the Florida Hospital Nicholson Center and IHU Strasbourg.
Longtai Medical Equity Conversion Deal
Separately, TITAN MEDICAL INC COM NPV (OTCMKTS:TITXF) has a reached agreement with Longtai Medical for the conversion of a $2 million deposit into equity. Under the terms of the agreement, the medical device company is to issue Longtai 16.9 million units at an assigned price of CDN$0.15 per unit. Each unit comprises of one common share and one common share purchase warrant.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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