Titan Medical (Nasdaq:TMDI) announced today that the U.S. Patent and Trademark office (USPTO) issued a new patent for its surgical robot.
The USPTO issued patent No. 11,504,191, titled “Graphical User Interface for a Robotic Surgical System.” It generally covers a graphical user interface (GUI) overlay of a surgical workspace to track instrument movement.
According to Titan, the patent aims to enhance the surgeon’s user experience.
“The granting of this patent is a result of our strategic plan to independently build and protect a robust patent portfolio in robotic-assisted surgery, including around the Enos robotic single-access surgical system. Today’s news validates our commitment to the continuum of innovation in robotic-assisted surgery,” said Cary Vance, president and CEO of Titan. “Along with recent patent application filings, including some that have recently published, this patent demonstrates the company’s focus on being an innovation leader in single-access RAS.
About the patent
Titan’s new patent covers technology for generating a three-dimensional boundary for instruments within the surgical workspace. It centers around movement generated by a user-controlled hand controller. It also covers technology that allows surgeons to limit instrument movement. This does so through a two-dimensional projection of the instrument’s position on the surgeon’s screen. All that comes from visual data and pre-operative patient imaging or scans, as well as other patient-specific data.
According to Titan, it developed an expansive IP portfolio, now with more than 225 pending and issued patents. The latest coverage offers multiple IP options, including the further protection of its surgical robot technologies. It also helps further license Titan’s technology and secure strategic options.
“The technology covered in this patent could assist with early-stage artificial intelligence that works to limit movement of instruments, including movements based on patient anatomy or more general keep-out zones, as well as enhancements in single-access RAS beyond the Enos system, including next-generation single-access RAS technologies and systems,” Vance noted. “We believe the breadth and depth of our patent portfolio provides us with options for monetization or other strategic opportunities.”
About those strategic opportunities
The latest patent news for Titan Medical comes as change potentially looms on the horizon.
In November, Titan announced plans to review and evaluate strategic alternatives. It consulted with financial and legal advisors to determine that the review is in the company’s and stakeholders’ best interest. Titan’s board plans to consider a full range of strategic alternatives, potentially including a corporate sale, merger or other business combination. It could also lead to a sale of all or a portion of its assets, strategic investment or other significant transaction.
One week ago, Titan confirmed the implementation of cost-cutting measures. Those measures allow it to continue working on its FDA investigational device exemption (IDE) filing. As part of the plan, Titan’s U.S. subsidiary intends to temporarily furlough approximately 40 employees. The furlough, which impacts employees at the subsidiary’s Chapel Hill, North Carolina, facility, went into effect immediately.
The next day, Titan suspended a special meeting of shareholders meant to hold a vote on a share consolidation plan.