TORONTO, ONTARIO--(Marketwired - Oct. 9, 2013) - Titan Medical Inc. ("Titan" or the "Company") (TSX VENTURE:TMD)(OTCQX:TITXF) has posted a video on its website illustrating the impressive dexterity of the "snake-like" robotic instruments of its Single Port Orifice Robotic Technology (SPORT(TM)) Surgical System. The video shows how the SPORT(TM) Surgical System can easily enter a small 25 mm opening such as a narrow-necked bottle, how the 3D high definition camera is deployed and how the robotic instruments can string small beads on a thin needle. This exercise proves how easily the SPORT(TM) Surgical System can enter a human orifice and successfully conduct surgical procedures that require great dexterity. The video is narrated by Dr. Dennis Fowler, who is responsible for clinical affairs and Titan's regulatory approval process plan, including its pre-clinical and clinical testing strategy. Dr. Fowler is working closely with the Clinical and Regulatory Affairs department of Ximedica, Titan's development partner of record, in solidifying Titan's clinical strategy for the regulatory review and approval by the U.S. Federal Drug Administration (FDA) and by the European Union of the SPORT(TM) Surgical System.
"This video clearly illustrates the incredible dexterity of the instruments of the SPORT(TM) Surgical System. The bottle neck entry and the bead stringing exercise performed by the SPORT(TM) Surgical System is evidence of how this robotic surgery system will be able to successfully complete intricate complex surgical procedures in a small body cavity space. Such flexibility is expected to result in the SPORT(TM) Surgical System becoming the surgical system of choice for surgeons and hospitals in the United States and the European Union," stated Titan CEO John Hargrove.
Titan is now solely focused on the SPORT(TM) Surgical System given its greater flexibility, lower price and smaller footprint compared to the currently available robotic system. Going forward, all Titan's efforts will be concentrated on developing and commercializing the SPORT(TM) Surgical System by 2015. Consequently, Titan has placed Amadeus, its multi-port surgical system, on the back burner.
Ximedica is a full service ISO 13485 certified and FDA registered product development firm with an exclusive focus on medical products. With more than 25 years of experience developing medical devices, combination products and consumer healthcare products, Ximedica's client base spans the globe and ranges from start-ups to the world's largest medical device manufacturers. Ximedica's mission is to create products that meet international regulatory requirements and strategic business goals. For more information, visit the Company's website at www.ximedica.com.
About Titan Medical Inc.
Titan Medical Inc. is a Canadian public company (TSX VENTURE:TMD)(OTCQX:TITXF) focused on the design and development of a robotic surgical system for application in minimally invasive surgery ("MIS"). The Company's robotic surgical system, currently under development, comprises a surgeon-controlled robotic platform that includes a 3D vision system and interactive instruments for performing MIS procedures, and a surgeon workstation that provides the surgeon with an interface to the robotic platform for controlling the interactive instruments and providing a 3D endoscopic view of inside a patient's body during MIS procedures. The robotic surgical system is being designed to expand robotic surgery into areas of surgical specialties and simple and complex procedures that are currently under-serviced, and to allow surgeons to perform procedures within small to medium size surgical spaces such as general surgery and cholecystectomy. For more information, visit the Company's website at www.titanmedicalinc.com.
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 April 10, 2013 (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 prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Titan Medical Inc.John Hargrove
Interim Chief Executive Officer
(416) 548-7522 (ext. 151)
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Source: Titan Medical Inc.