With the recent explosion of surgical robotics news here’s an item that might have gotten lost in the shuffle. Titan Medical has signed a limited development program with Medtronic.
The two companies said the agreement comprises a limited development program, building on the successful completion of the June 2020 development and license agreement between Titan and Medtronic. The definitive agreement also includes a preclinical collaboration to evaluate the performance of various instruments and cameras in gynecological procedures and the potential for future activities associated with the commercial supply of instruments and cameras to Medtronic.
On May 3, 2022, Titan announced a $2.6 million purchase order from Medtronic for instruments and cameras. The Definitive Agreement finalizes the terms and conditions related to the purchase order.
“The closing of this definitive agreement is an advancement for our relationship with Medtronic, and for Titan as we move towards commercialization activities,” said Cary Vance, President and CEO of Titan. “We view the activities associated with this Definitive Agreement as additional methods of enhancing our know-how in single-access RAS technology and further benefitting our own Enos RAS platform.”