Titan Medical and Mimic Technologies Announce Collaboration and Successful Demonstration of First Simulation Modules
29 March 2018 - 10:30PM
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”), and
Mimic Technologies Inc., a market leader in
robotic simulation, announce the collaboration and successful
demonstration of a first set of simulation modules for use with
Titan’s SPORT Surgical System surgeon workstation. The
successful demonstration of these simulation modules is the first
step in the development of a comprehensive surgeon training
curriculum for the SPORT Surgical System.
David McNally, President and CEO of Titan
Medical, said, “We are thrilled to announce this strategic
collaboration with Mimic Technologies, and with the successful
demonstration of Mimic’s first simulation modules on our surgeon
workstation, deliver an important product development milestone
right on schedule. Mimic, with its experience and leadership in
simulation training for robotic surgery, provides us with a proven
component of surgeon training in preparation for clinical adoption
of our SPORT Surgical System. Simulation training has evolved with
robotic surgery and it will continue to play a vital role in the
successful implementation of new robotic programs. Surgeons and
hospital administrators alike have indicated that simulation will
remain a preferred training regimen in the future.”
“We are leveraging Mimic’s deep subject matter
expertise and well-accepted simulation exercises in order to
provide best-in-class simulation training at product launch.
By doing so, we believe we can accelerate the learning curve,
reduce training and operating costs, and mitigate potential risks
associated with the implementation of our robotic technology,” he
added. “We enthusiastically look forward to completing the full
simulation training curriculum for our SPORT Surgical System with
the Mimic team of simulation experts.”
Jeff Berkley, CEO and Founder of Mimic
Technologies, said, “Mimic is delighted to partner with Titan to
build revolutionary simulation systems that prepare surgeons for
safe and efficient robotic surgery. Both Mimic and Titan believe
that training is the cornerstone of a successful robotic surgery
program. We applaud Titan’s forward-looking approach to simulation
training by its commitment to launch the SPORT Surgical System with
a full suite of simulation software in place. By emphasizing
simulation as part of a comprehensive training program, we hope to
expedite the learning curve for surgeons looking to offer SPORT
single port robotic surgery to their patients.”
About Mimic Technologies
Inc.
Since 2002, Mimic has been developing simulation
technologies that answer the needs of a changing robotic surgical
marketplace. Mimic provides simulation solutions that help medical
device companies build better robots and training simulators for
surgeons. Mimic also provides strategic solutions for hospitals
that maximize surgical quality, efficiency, and safety, while
reducing risk and costs. Mimic’s programmatic approach unifies
training and testing across a hospital system to insure hospital
stakeholders can make objective decisions on who is safe to enter
the OR.
For more information, please visit the Company’s
website at www.mimicsimulation.com.
About Titan Medical Inc.
Titan Medical Inc. is 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 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 an advanced ergonomic interface
to the patient cart and a 3D endoscopic view inside the patient’s
body. Titan intends to pursue a broad set of surgical indications
for the SPORT Surgical System, 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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