Titan Medical (TSX:TMD)(NASDAQ:TMDI) designs and develops robotic-assisted surgical technologies for various applications. The company is presently focused on the development of the Enos system, which includes a surgeon-controlled patient cart that includes a three-dimensional (3D) high-definition vision system and multi-articulating instruments for performing minimally invasive surgical (MIS) procedures. Titan is also developing a surgeon workstation that provides the surgeon with an ergonomic interface to the patient cart and a 3D high-definition view of the MIS procedure.
Valuable robotic surgical system
The company intends to initially pursue gynecologic surgical indications for use of Titan’s Enos system. Development of the Enos system has proceeded with input from surgeons and operating room staff experienced in MIS and consultation with medical technology development firms. This approach has positioned the company to design a robotic surgical system intended to include the traditional advantages of robotic-assisted surgery.
The Enos system patient cart has been developed with the goal of delivering multi-articulating instruments and a dual-view camera system into a patient’s abdominal body cavity through a single access port. The dual-view camera system consists of a flexible 3D high-definition endoscopic camera along with a light source and an insertion tube that provides visualization of the MIS surgical site for optimal positioning of the insertion tube. The reusable multi-articulating instruments are designed to facilitate an assortment of permanent and detachable single patient use end effectors.
Robust training curriculum
The use of reusable robotic instruments that can be cleaned and sterilized between surgeries is intended to minimize the cost per procedure without compromising surgical performance. As part of the development of the Enos system, the company plans on the continued development of a robust training curriculum and post-training assessment tools for surgeons and surgical teams. The training curriculum is planned to include cognitive pre-training, psychomotor skills training, surgery simulations, live animal and human cadaver lab training, surgical team training, troubleshooting and an overview of safety.
Post-training assessment includes validation of the effectiveness of assessment tools. A software training system developer has produced an initial set of core surgical skills simulation modules customized for use with the surgeon workstation in the first phase of the comprehensive surgeon training curriculum that the company plans for the Enos system.
Intellectual property portfolio
The company continuously evaluates technologies under development for intellectual property protection through a combination of trade secrets and patent application filings. Titan has focused on the filing and prosecution of patents that management believes validate the novelty of the company’s unique technology, and in turn, support the value of the entire franchise.
The company has used a combination of internal and external resources, including specialized product development firms, to execute the research, development and regulatory plans for the Enos system. Titan’s patent portfolio has expanded from 12 issued patents in 2016 to 68 issued patents and 83 patent applications in 2020.
Titan anticipates further expanding the company’s patent portfolio by filing additional patent applications as it progresses in the development of robotic surgical technologies and, potentially, by licensing suitable technologies. This should make Titan’s stock more valuable.
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Fool contributor Nikhil Kumar has no position in any of the stocks mentioned.
