TORONTO, March 20, 2017 (GLOBE NEWSWIRE) -- Profound Medical Corp. (TSX-V:PRN) (OTCQX:PRFMF) (“Profound” or the “Company”) an emerging medical device company focused on prostate care, today announced that it has successfully completed the first sale of a TULSA-PRO system in Finland to the Turku University Hospital (“Tyks”). The deal was completed in collaboration with Royal Philips (“Philips”), who is working in partnership with Profound to commercialize the TULSA-PRO system in Europe.
As the first TULSA-PRO sale in Finland, the agreement with Tyks continues Profound’s recent commercial progress into the European market, where the Company has sold systems in Spain, United Kingdom and Germany since receiving CE Mark designation in April 2016. It also represents yet another European sale through the Company’s collaboration with Philips.
Operation of the TULSA-PRO system will be administered under Dr. Roberto Blanco Sequeiros, Chairman of the Medical Imaging Center at Turku University Hospital and under a leading European urologist, Dr. Peter Boström. According to Dr. Blanco Sequeiros, the technology holds promise in multiple areas of prostate treatment and care, including focal therapy for localized prostate cancer, treatment of benign prostate hyperplasia, salvage radiation therapy and the debulking of tumours.
“While there have been significant medical advances in prostate care in recent years, there is no question that an unmet medical need and uncharted medical terrain remains,” commented Dr. Blanco Sequeiros. “Survival rates for prostate cancer are high, but current therapies often come with side effects that include erectile dysfunction, incontinence and bowel problems. Though further testing is required, the evidence is compelling, and suggests that the TULSA-PRO system could represent a major breakthrough in prostate treatment, offering patients a therapy that is safe, accurate and effective with minimal side effects. We are keen to assess its potential in both localized prostate cancer and other prostate conditions.”
“We are delighted that the Turku University Hospital has adopted the TULSA-PRO system, offering patients in Finland a minimally invasive alternative to existing prostate care therapies,” commented Arun Menawat, Profound’s CEO. “As Profound continues its expansion into Europe and other international markets, we look forward to the day when this procedure becomes the new standard of care, helping patients quickly return to their daily lives.”
TULSA-PRO combines real-time Magnetic Resonance Imaging with transurethral, robotically-driven therapeutic ultrasound and closed-loop thermal feedback control designed to provide precise ablation of the prostate while simultaneously protecting critical surrounding anatomy from potential side effects. TULSA-PRO has demonstrated accurate and precise ablation of malignant prostate tissue, while providing a favourable safety profile, with low rates of serious or long-term adverse events.
Profound is currently conducting a pilot commercial launch of TULSA-PRO in key European and other CE mark jurisdictions. The Company is also sponsoring a multicenter, prospective FDA-registered clinical trial, TACT, which is designed to further demonstrate the safety and effectiveness of this innovative technology. If successful, TACT is expected to support Profound's application to the U.S. Food and Drug Administration for approval to market TULSA-PRO in the United States.
About Profound Medical Corp.
The Profound Medical team is committed to the effort to achieve a new therapeutic standard in prostate cancer. For the millions of men currently living with prostate cancer, and the thousands more who are diagnosed with it every year, current treatment options often mean having to make difficult choices based on potential side effects that can significantly impact quality of life. Our mission is to profoundly change the standard of care by creating a tomorrow where clinicians can confidently ablate cancerous prostate tissue with precision, while actively protecting critical anatomy from potential side effects; a tomorrow where patients have access to a safe, fast and effective treatment option, so they can quickly return to their daily lives.
Established in 2008, Profound Medical is commercializing a novel technology, TULSA-PRO, which combines real-time Magnetic Resonance Imaging with transurethral, robotically-driven therapeutic ultrasound and closed-loop thermal feedback control that is designed to provide precise ablation of the prostate while simultaneously protecting critical surrounding anatomy from potential side effects. TULSA-PRO is CE Marked and Profound is sponsoring a multicenter, prospective FDA-registered clinical trial, TACT.
This release includes forward-looking statements regarding Profound and its business which may include, but is not limited to, the expectations regarding the efficacy of Profound’s technology in the treatment of prostate cancer. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of Profound. The forward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, including risks regarding the pharmaceutical industry, economic factors, the equity markets generally and risks associated with growth and competition. Although Profound has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Profound undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, other than as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts For further information, please contact: Stephen Kilmer Investor Relations email@example.com T: 647.872.4849 Or Rashed Dewan Vice President, Finance T: 647-476-1350