Titan Medical Granted New US Patents for Surgical Device

For many medical device companies, a patent is the only way for a company to guarantee the most profit from its product.

Titan Medical (TSX:TMD) was granted a new patent on Tuesday (March 27), effectively guaranteeing the robotic surgical instruments for its SPORT surgical system.

The press releases states that applications for further patents are pending in China and Europe for corresponding products and technology. This US patent brings the company’s total to 23 issued patents and 43 pending applications.

“This patent, along with others in process, protect core elements of our technology related to the articulation of our snake like arms of the system which enter the body through a single incision along with a camera and light source,” David McNally, president and CEO of Titan Medical told the Investing News Network (INN) in a telephone interview.

“As opposed to multi port systems, a single port reduces the potential trauma with a single port it also could lead to faster healing and discharge times from the hospital,” he continued, which he said may reduce healthcare and patient costs.

Though the company is still “perfecting” its technology, this year it is preparing for regulatory submittals which are expected to take place in the second half of 2019, McNally said.

Titan is a pre-commercial medical device company specializing in single-port abdominal surgeries including general, gynecologic and urologic procedures. The company’s SPORT surgical system is a surgeon-controlled patient cart. It includes a 3D HD screen with multi-articulating instruments for procedures. By the camera and light, surgeons are able to see inside the patient’s body.

Investor takeaway

Since Tuesday’s announcement, the company’s stock price increased 3.85 percent to $0.27 at market close Wednesday (March 28). The current share price represents a 107.69 percent increase from the company’s 52-week low of $0.13 in July.

An equity report from MorningStar Wednesday expects the company’s share price to steadily increase for the remainder of 2018 and in 2019. MorningStar gave the company a market value of $0.39 per share.

Investors may want to watch for the company’s Canadian public offering, which it is currently in the process of completing.“The success last year with preclinical evidence generated at our three centers of excellence surgeons are enthusiastic that titan medical will be a viable competitor in the single incision abdominal surgery market,” said McNally.

Overall Titan’s share price has experienced quite a bit of volatility in the last year, but investors should keep in mind the company is still pre-commercial. If regulatory approvals are consistent the company should meet its goal of submitting regulatory approvals in 2019.

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Securities Disclosure: I, Gabrielle Lakusta, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.