Titan Medical (TSX:TMD) said today it installed a Sport robotic surgical system at the Institut Hospitalo-Universitaire de Strasbourg, marking the 1st installation of the system in Europe and the final planned installation for the company’s feasibility and validation studies.
The Toronto-based company said it expects studies to begin at the facility in the fourth quarter of 2017 and continue on into 2018.
“We are pleased to announce Sport’s first European installation at IHU Strasbourg, right on schedule. Following Florida Hospital Nicholson Center in Orlando and Columbia University Medical Center in New York, this is our final planned installation at our center of excellence sites. We now have achieved a critical milestone of success with installations of the Sport system at all three of our center of excellence sites before the end of 2017. This is a significant positive step for Titan Medical as we continue to deliver our stated milestones on time with the end goal of commercializing the Sport Surgical System. With successful first uses of the Sport system reported from the two U.S. Center of Excellence sites, we now enthusiastically look forward to conducting the first of the feasibility studies at IHU Strasbourg in the coming weeks,” CEO David McNally said in a press release.
“We are delighted that Titan Medical has chosen IHU Strasbourg as its first European installation site for feasibility and validation studies of the Sport system. We look forward to embarking on this exciting journey with Titan Medical and feel confident that IHU’s exceptional clinical and research expertise will provide a strong foundation for development of the Sport Surgical System throughout these studies,” IHU Strasbourg CEO Jacques Marescaux said in a prepared statement.
Yesterday, Titan Medical said it closed a funding round that brought in nearly $4 million more than it was originally expecting, grossing more than $18 million for the Sport robot-assisted surgery device it’s developing.