Titan Medical signs definitive agreement with Medtronic, Canadian Business Journal

TORONTO, Sept. 12, 2022 (GLOBE NEWSWIRE) — Titan Medical Inc. (Nasdaq: TMDI; TSX: TMD) develops and commercializes an innovative surgical technology for single-access, robotic-assisted surgery (RAS) is a medical device company focused on .

The final agreement comprises a limited development program, building on the successful June 2020 development and licensing agreement between Titan and Medtronic. The definitive agreement also includes preclinical collaboration to evaluate the performance of various instruments and cameras in gynecologic surgery, as well as potential future activities related to the commercial supply of instruments and cameras to Medtronic. On May 3, 2022, Titan announced his $2.6 million purchase order for instruments and cameras from her Medtronic. A definitive agreement establishes the terms and conditions associated with a purchase order.

Cary Vance, President and CEO of Titan, said: “We believe that the activities associated with this final agreement are an additional way to strengthen our single-access RAS technology know-how and further leverage our unique Enos™ RAS platform.”

For clarity, Titan Medical is not affiliated with Titan Spine, which was acquired by Medtronic in 2019.

About Titan Medical

Titan Medical Inc. (Nasdaq: TMDI; TSX: TMD) is a medical device company headquartered in Toronto, Ontario with operations in Chapel Hill, North Carolina that uses innovative technology through a single access point. focused on enhancing robotic-assisted surgery (RAS) in The Enos™ Robotic Single Access Surgical System has been developed with a focus on ergonomics to provide a surgical experience that mimics the real-world movements demanded by the surgeon, allowing the surgeon to extend range of motion in confined spaces. It features an articulated instrument designed to Dexterity and the ability to exert force necessary to complete common surgical tasks. With the Enos system, Titan will initially pursue indications for gynecologic surgery.

Enos™ is a trademark of Titan Medical Inc.

For more information, please visit www.titanmedicalinc.com and follow us. @Titan Medical on Twitter and LinkedIn.

Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of applicable Canadian and US securities laws. It reflects management’s current expectations of the company’s future growth, operating results, performance and business prospects and opportunities. Forward-looking statements are, but not always, “may,” “could,” “may,” “will,” “expect,” “believe,” , “expects”, “intends”, etc. ”, “presumed”, “probable” and similar expressions. However, these words do not constitute all forward-looking statements. Forward-looking statements contained in this release may include, without limitation, references to: Use of Titan instruments jointly designed and manufactured in preclinical studies. Future activities related to commercial supply of instruments and cameras. The Enos Robotic Single Access Surgical System has been developed with a focus on ergonomics to provide a surgical experience that mimics the real-life movements demanded by surgeons. Titan also intends to initially pursue gynecological surgical indications. These statements reflect management’s current views regarding future events and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors may cause the actual results, performance or achievements of the Company to be expressed or implied by forward-looking statements, including but not limited to those set forth in “Risk Factors.” Future results, performance or achievements may differ materially. Sections of the Company’s Annual Report for the fiscal year ended December 31, 2021 are available at www.sedar.com and www.sec.gov. If one or more of these risks or uncertainties materializes or the assumptions underlying the forward-looking statements prove incorrect, the actual results, performance or achievements of this news release may differ. may differ materially from those expressed or implied by the forward-looking statements contained herein. These factors should be considered carefully and prospective investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in news releases are based on what management currently believes to be reasonable assumptions, but actual results, performance or achievements may differ from those forward-looking statements. We cannot guarantee that future investors will agree. Except as required by law, we do not update or revise any forward-looking statements as a result of new information, future events or otherwise. expressly disclaims any intention or obligation to

contact
Kristen Galfetti
Vice President of Investor Relations
& Corporate Communications
+1-781-869-2553
[email protected]

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