{"id":578866,"date":"2024-04-27T08:00:56","date_gmt":"2024-04-27T12:00:56","guid":{"rendered":"https:\/\/www.therobotreport.com\/?p=578866"},"modified":"2024-04-26T16:58:21","modified_gmt":"2024-04-26T20:58:21","slug":"titan-medical-gives-progress-report-about-conavi-merger","status":"publish","type":"post","link":"https:\/\/www.therobotreport.com\/titan-medical-gives-progress-report-about-conavi-merger\/","title":{"rendered":"Titan Medical gives progress report about Conavi merger"},"content":{"rendered":"

\"Titan<\/a><\/p>\n

Titan Medical Inc. this week provided a progress update regarding its planned merger with Conavi Inc. They said the combined entity will continue working to commercialize Conanvi’s Novasight Hybrid system for guiding minimally invasive coronary procedures.<\/p>\n

Toronto-based Conavi Medical designs, makes, and sells imaging technologies for guiding cardiovascular procedures. Novasight Hybrid combines<\/a> intravascular ultrasound (IVUS) and optical coherence tomography (OCT) to enable simultaneous and co-registered imaging of coronary arteries. The system has FDA 510(k) clearance from the U.S. Food and Drug Administration (FDA).<\/p>\n

Conavi and Titan said<\/a> they are continuing work on the all-stock transaction under a definitive amalgamation agreement first announced<\/a> last month. That includes the preparation of submissions to list Titan shares on the TSX Venture Exchange. That listing would follow de-listing from the Toronto Stock Exchange.<\/p>\n

The companies said they also plan to complete Titan\u2019s management information circular and related documents. Titan plans to hold a special meeting for shareholders to approve the transaction and related matters.<\/p>\n

In addition, Conavi said it is preparing concurrent financing of subscription receipts worth at least $15 million and up to $20 million.<\/p>\n