\nTitan Medical Inc. (\u201cTitan\u201d or the \u201cCompany\u201d) (TSX: TMD) (Nasdaq: TMDI), a medical device company focused on the design and development of surgical technologies for robotic single access surgery, today announced a corporate update in conjunction with its presentation at the H.C. Wainwright Global Life Sciences Conference. David McNally, President, CEO and Chairman of Titan Medical, will provide an overview of the Company and its Enos\u2122 robotic single access surgical system at the conference, which is available for on-demand access on Titan Medical\u2019s website under the \u201cInvestors<\/a>\u201d section.\n<\/p>\n
\n\u201cWe are pleased to further detail our corporate strategy and the market opportunity for our Enos surgical system. The achievements to date position Titan for success in attaining our vision for robotic-assisted surgery that may allow patients less trauma, shorter hospitalization time, less scarring, faster recovery times and reduced post-operative pain,\u201d said David McNally. \u201cWith a strong cash position and expert in-house technical talent, the advanced development of the Enos surgical system is at full intensity. We plan to continue executing on our corporate milestones with the objectives of completing product development in 2021 and human clinical studies in 2022.\u201d\n<\/p>\n
\nCorporate highlights, including those found in the presentation are included below.\n<\/p>\n
Market Opportunity:<\/b><\/p>\n Titan Medical\u2019s Enos Surgical System:<\/b><\/p>\n Corporate Resources:<\/b><\/p>\n Future Company Milestones:<\/b><\/p>\n \nFor full financial information, including a detailed milestone table, please see the Company\u2019s consolidated financial statements and annual management\u2019s discussion and analysis for the year ended December 31, 2020 and December 31, 2019, which may be viewed at www.sedar.com<\/a> and at www.sec.gov<\/a>.\n<\/p>\n \nSources:\n<\/p>\n \n1. Bank of America Merrill Lynch: Intuitive Surgical: Tide still rising\u2026a fresh, detailed look at the US TAM for surgical robotics, published 12 August 2019 About Titan<\/b><\/p>\n \nTitan Medical Inc., a medical device company headquartered in Toronto, is focused on developing robotic assisted technologies for application in single access surgery. The Enos\u2122 system, by Titan Medical, is being developed with dual 3D and 2D high-definition vision systems, multi-articulating instruments, and an ergonomic surgeon workstation. With the Enos system, Titan intends to initially pursue gynecologic surgical indications.\n<\/p>\n \nCertain of Titan\u2019s robotic assisted surgical technologies and related intellectual property have been licensed to Medtronic plc, while retaining world-wide rights to commercialize the technologies for use with the Enos system.\n<\/p>\n \nEnos\u2122 is a trademark of Titan Medical Inc.\n<\/p>\n \nFor more information, visit www.titanmedicalinc.com<\/a>.\n<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis news release contains \u201cforward-looking statements\u201d within the meaning of applicable Canadian and U.S. securities laws, which reflect the current expectations of management of the Company\u2019s future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as \u201cmay\u201d, \u201cwould\u201d, \u201ccould\u201d, \u201cwill\u201d, \u201canticipate\u201d, \u201cbelieve\u201d, \u201cplan\u201d, \u201cexpect\u201d, \u201cintend\u201d, \u201cestimate\u201d, \u201cpotential for\u201d and similar expressions have been used to identify these forward-looking statements, including references to: the Company being focused on the design and development of surgical technologies for robotic single access surgery; the large market opportunity for the Company; that clinical studies are expected to commence in 2022; that David McNally will provide an overview of the Company and its Enos robotic single access surgical system at the H.C. Wainwright Global Life Sciences Conference; that the achievements to date position Titan for success in attaining its vision for robotic-assisted surgery that may allow patients less trauma, shorter hospitalization time, less scarring, faster recovery times and reduced post-operative pain; that the Company continues executing on its corporate milestones with the objectives of completing product development in 2021 and human clinical studies in 2022; that the total addressable US surgical robotics market could reach $18 billion with up to six million addressable procedures annually; that gynecologic surgery represents about $1 billion in market potential; that the Enos surgical system is being developed to allow hospitals to benefit from increased procedure throughput and reduced post-operative hospitalization of patients; that reducing the number of incisions to a single access point may potentially reduce the trauma, complications, scarring, healing time, and use of post-operative pain medications associated with surgery, which may especially be relevant in the context of a post-COVID-19 environment; that preclinical evidence suggests that the system may ultimately have application in other subspecialties, including urologic, colorectal and general surgery; that the Company expects to generate $21 million in additional license revenue in 2021; the Company continues to build on and seek additional avenues for leveraging and\/or expanding its intellectual property portfolio; that the Company plans to complete product development and tooling for initial manufacturing, apply for an Investigational Device Exemption from the U.S. FDA, and once approved, conduct human clinical studies compiling data to prepare for FDA marketing authorization application; that the Enos system is being developed with dual 3D and 2D high-definition vision systems, multi-articulating instruments, and an ergonomic surgeon workstation; Titan\u2019s intention to initially pursue gynecologic surgical indications with the Enos system; the license of certain of Titan\u2019s robotic assisted surgical technologies and related intellectual property to Medtronic plc, while retaining world-wide rights to commercialize the technologies for use with the Enos system. These statements reflect management\u2019s current beliefs, and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause 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 \u201cRisk Factors\u201d section of the Company\u2019s Annual Report on Form 20-F for the fiscal year ended December 31, 2019 and the Company\u2019s 2020 annual management\u2019s discussion and analysis (which may be viewed at www.sedar.com<\/a> and at www.sec.gov<\/a>). 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. Except as required by law, the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.\n<\/p>\n Market Research Reporting<\/b><\/p>\n \nThe data from the sources referenced in the footnotes speak as of their original publication dates (and not as of the date of this news release) and the opinions and market data expressed in those reports are subject to change without notice (including without limitation from the intervening impacts of the COVID-19 pandemic). The reports referenced are third party sources and have not been independently verified by Titan Medical Inc. and their accuracy and completeness and any underlying assumptions for the market estimate and projections contained therein have not been independently verified.\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210309005360\/en\/<\/a><\/span><\/p>\n \nMonique L. Delorme \n\u00a0\n<\/p>\n KEYWORDS:<\/b> North America Canada<\/p>\n INDUSTRY KEYWORDS:<\/b> Surgery Health Medical Devices<\/p>\n\n
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2. Life Science Intelligence Report LSI-PV-US1753SU, published 2017
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3. A Fact Sheet from the Office on Women\u2019s Health, Depart of Health & Human Services, USA, www.womenshealth.gov
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4. See preclinical studies, peer-reviewed abstracts and published manuscript referenced on pages 12-14 of Titan Medical Overview dated March 9, 2021, which can be accessed on the Company\u2019s website, www.titanmedicalinc.com<\/a>.\n<\/p>\n<\/p>\n
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Chief Financial Officer
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+1-416-548-7522
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investors@titanmedicalinc.com<\/a><\/p>\n
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