Titan Medical didn’t meet its goal of submitting its robotic surgical system for FDA clearance by the end of 2019. Now the company says it needs another $85 million to get its medical device to the finish line or it might have to put itself up for sale.

The robotic systems developer spelled out the circumstances in a letter sent to shareholders Monday. Toronto-based Titan (NASDAQ: TMDI) spent much of the second half of last year meeting with investors and trying to raise money. But the amount of money it needs and the length of time required to develop and… Read more »