After-hours trading on Friday saw Titan Medical Inc. (Nasdaq: TMDI) shares rise 10.51% to $0.73 after the medical device maker received approval for a U.S. patent.
Which patent has TMDI been given the green light on?
The United States Patent and Trademark Office (USPTO) recently issued patent No. 11,504,191, titled “Graphical User Interface for a Robotic Surgical System,” according to a recent announcement by Titan Medical (TMDI). The patent, which aims to improve the user experience for surgeons, typically addresses the overlaying of a graphical user interface (GUI) over a surgical workspace to track tool movement.
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Titan Medical’s strategic objective to independently develop and safeguard a strong patent portfolio in robotic-assisted surgery (RAS), especially around the Enos robotic single-access surgical system, led to the issuance of this patent. The news confirmed TMDI’s dedication to the robotic-aided surgery innovation continuum. This patent illustrates TMDI’s emphasis on becoming an early mover in single-access RAS along with recent patent application submissions, including those that have just been published.
The technology described in this patent may be used to improve single-access RAS further than the Enos system, including next-generation single-access RAS technologies and systems, as well as early-stage artificial intelligence that works to control the mobility of equipment, including movements based on patient anatomy or more general keep-out zones. TMDI has possibilities for revenue generation and other such strategic opportunities because of the richness and breadth of its patent portfolio.
The technology covered by the awarded patent creates a three-dimensional boundary for surgical tools based on movement produced by a user-controlled hand controller. A two-dimensional projection of the instrument’s position on the surgeon’s screen, based on visual data, before the patient image processing or scans, or other personalized medical data embodying one or more keep-out zones, is also covered by this technology, giving the surgeon user the ability to restrict instrument movement.
How would this boost TMDI’s future growth?
The Enos system’s surgeon workstation, dexterous articulating instruments, patient care, ergonomic hand controllers, advanced control software, instinctive surgeon overlays for providing interoperative feedback, and enhanced vision are just a few of the single-access RAS components that are supported and covered by the extensive intellectual property portfolio Titan Medical (TMDI) has built up. TMDI may have access to a range of intellectual property alternatives through this coverage, including the chance to further safeguard its RAS innovations through licensing and the security of strategic choices.
