Titan Medical, a company developing a surgical robot system, struck a definitive agreement with Medtronic, the companies announced on Monday.
The deal includes a limited development program between the two companies. It builds on a previous development and license agreement with Medtronic from 2020, which Titan completed earlier this year, netting it an $8.3 million payment.
As part of the deal, Medtronic will evaluate the performance of Titan’s instruments and cameras in gynecological procedures, which Titan plans to pursue as the first indication for its surgical robot.
The partnership will build on Medtronic's work to grow its presence in robotic surgery. Medtronic announced last October that its soft tissue robotics system, Hugo, received CE Mark for urologic and gynecologic procedures.
In May, Titan received a $2.6 million purchase order from Medtronic for instruments and cameras. The most recent agreement finalizes the terms and conditions of that order, the company stated.
Toronto-based Titan is developing its Enos robot, which uses a single access point for surgeries. It had originally planned to make an Investigational Device Exemption submission to the Food and Drug Administration early next year, but that timeline got bumped to mid-2023 due to shortages of some key components and the need to recruit software engineers.
The company still plans to start clinical trials in 2023 and expects a U.S. launch in 2025, assuming the device gets marketing authorization from the FDA.
