Brief: Titan Medical Reports Development And License Agreements With Medtronic

Conavi Medical

04/06/2020 12:35

June 4 (Reuters) - Titan Medical Inc  TMD.TO :
    * TITAN MEDICAL ANNOUNCES DEVELOPMENT AND LICENSE AGREEMENTS
WITH
MEDTRONIC AND SENIOR SECURED LOAN
    * TITAN MEDICAL - ENTERED INTO DEVELOPMENT AND LICENSE
AGREEMENT
WITH MEDTRONIC PLC TO FURTHER DEVELOPMENT OF ROBOTIC ASSISTED
SURGICAL TECHNOLOGIES
    * TITAN MEDICAL -  ENTERED INTO SEPARATE LICENSE AGREEMENT
WITH
MEDTRONIC IN RESPECT OF CERTAIN INTELLECTUAL PROPERTY OF TITAN
    * TITAN MEDICAL -  TITAN WILL RECEIVE SERIES OF PAYMENTS
TOTALING
UP TO U.S. $31 MILLION FOR MEDTRONIC'S LICENSE TO ROBOTIC
ASSISTED SURGICAL TECHNOLOGIES
    * TITAN MEDICAL - A MILESTONE OF AGREEMENT IS FOR CO TO
RAISE
ADDED $18 MILLION WITHIN 4 MONTHS OF DEVELOPMENT START DATE,
EXPECTED TO OCCUR IN JUNE
    * TITAN MEDICAL -  MEDTRONIC HAS LICENSED CERTAIN ROBOTIC
ASSISTED
SURGICAL TECHNOLOGIES FROM TITAN FOR AN UPFRONT PAYMENT OF U.S.
$10 MILLION
    * TITAN MEDICAL -  TITAN RETAINS RIGHTS TO CONTINUE TO
DEVELOP AND
COMMERCIALIZE CERTAIN ROBOTIC ASSISTED SURGICAL TECHNOLOGIES FOR
ITS OWN BUSINESS
    * TITAN MEDICAL INC -  CHARLES FEDERICO, WHO HAS SERVED AS
CO'S
CHAIRMAN SINCE MAY 2019 DECIDED TO RETIRE FROM TITAN'S BOARD
    * TITAN MEDICAL INC - DAVID MCNALLY, TITAN'S PRESIDENT AND
CEO,
HAS BEEN APPOINTED CHAIRMAN OF BOARD OF DIRECTORS

Source text for Eikon:  ID:nBw4G9bdWa 
Further company coverage:  TMD.TO 

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