Titan Medical Inc.

10:19 AM EST - Titan Medical Inc. : Has completed the first technical milestone under the development and license agreement with Medtronic plc, and is due to receive a $10-million U.S. payment. The development and license agreement provides for the development of robotic assisted surgical technologies for use by both Titan and Medtronic in their respective businesses. Titan will receive a series of payments totaling up to $31 million U.S. for Medtronic’s license to such technologies, as technology milestones are completed and verified. The $10-million U.S. payment for completion of the first technical milestone represents the first of these payments. Titan Medical Inc. shares T.TMD are trading up $0.03 at $1.03.

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