Titan Medical Inc. announced that the Company has entered into a license agreement with Intuitive Surgical, Inc. for an upfront payment of USD 7.5 million in respect of certain intellectual property of Titan. Under the Agreement, Titan has granted Intuitive a non-exclusive license to all of Titan's IP, with the exception of the IP that is exclusively licensed to another party under a June 2020 license agreement. Titan retains ownership of the licensed IP, along with the associated rights including the right to continue to develop and commercialize the technologies covered by the licensed IP and the right to license the IP to other third parties.