By Robb M. Stewart

Canadian medical technology company Titan Medical entered a licensing agreement with Johnson & Johnson's Auris Health business covering certain intellectual property.

Titan under the agreement granted Auris a non-exclusive license to a portion of its intellectual property.

The Toronto-based company, which developed a patent portfolio related to the enhancement of robotic-assisted surgery, earlier this year transitioned to an IP licensing company in an effort to generate revenue from licensing existing patents. The move saw Titan terminate research and development and it signed two licensing agreements with two companies in the surgical robotic industry for total upfront payments of $15.5 million.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

August 21, 2023 08:04 ET (12:04 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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