Titan Medical and Cambridge Design Partnership (CDP) has announced an expanded engagement in respect of the instrument development programme for Titan’s single-port robotic surgical system. Additionally, CDP has subscribed for common shares of Titan.
David McNally, president and CEO of Titan, says: “We are pleased to announce our expanded engagement of CDP, and welcome them as a shareholder. Since engaging with them only a few months ago, their highly qualified engineers have leveraged their deep domain experience while demonstrating an ability to understand the exacting requirements of Titan’s robotic surgical system. CDP engineers have improved Titan’s multi-articulating instrument designs with the objective of demonstrating performance improvements, along with the potential for reductions in the target costs of commercial devices.
Jez Clements, partner at CDP, comments: “We share Titan’s vision for improving patient outcomes with their unique single-port robotic surgical system. We believe the core system architecture to be sound, and once adequate funding is secured, we are confident in the ability of Titan’s management team to resume the development of its single-port robotic system. We are delighted to have the opportunity to apply our deep medical instrument product development experience. It is for these reasons that we are participating with an equity position in the company.”