TORONTO and AMSTERDAM, Netherlands, May 11, 2016 (GLOBE NEWSWIRE) -- Profound Medical Corp. (TSXV:PRN), a Toronto-based medical device company and Royal Philips (NYSE:PHG) (AEX:PHIA), a leading health technology company, today announced that they have signed a sales and marketing agreement that will advance the commercial launch of Profound’s TULSA-PROTM, a minimally invasive system to ablate targeted prostate tissue.
Under the terms of the agreement, the two companies will collaborate in the commercialization of TULSA-PRO in Europe followed by Canada, the U.S. and other markets, subject to regulatory clearance in those jurisdictions.
TULSA (Transurethral Ultrasound Ablation) technology combines real-time Magnetic Resonance (MR) imaging with transurethral therapeutic, robotically-driven ultrasound and closed-loop thermal feedback control providing a highly precise treatment tailored to patient-specific anatomy and pathology. The agreement follows a previously established collaboration to support Profound’s proprietary technology on Philips’ Ingenia and Achieva 3T MRI platforms.
“Our agreement with Philips will enable us to increase our reach of this unique technology to more clinicians and their patients requiring prostate care,” said Steve Plymale, CEO, Profound Medical Corp. “I am convinced that our TULSA technology will be a valuable addition to Philips’ expanding interventional oncology portfolio.”
“Magnetic Resonance Imaging or MRI is emerging as a powerful tool in oncology,” said Christopher Busch, General Manager MR Therapy at Philips. “For example, MRI has an essential role to play in the diagnosis, treatment and monitoring of prostate cancer. Our collaboration with Profound Medical in MRI-guided therapy further extends our portfolio of treatment technologies that we can offer to advance prostate cancer care.”
TULSA-PRO for MRI-guided treatment of the prostate gland will complement Philips’ 3T MRI for multi-parametric diagnostic imaging of the prostate, image-guided biopsies (MRI guided or ultrasound guided with MR registration), and MRI-only simulation for radiation therapy treatment planning, covering the various stages of prostate cancer care.
About Profound Medical Corp.
Profound Medical is a Canadian medical device company that has developed a unique and minimally invasive treatment to ablate the prostate gland in prostate cancer patients. Profound’s novel technology combines real-time MR imaging with transurethral therapeutic, robotically-driven ultrasound and closed-loop thermal feedback control. It provides a highly precise treatment tailored to patient-specific anatomy and pathology. This method of prostate ablation offers short treatment times and low morbidity, allowing for fast patient recovery. For more information, visit profoundmedical.com
About Royal Philips
Royal Philips (NYSE:PHG) (AEX:PHIA) is a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. The company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips’ wholly owned subsidiary Philips Lighting is the global leader in lighting products, systems and services. Headquartered in the Netherlands, Philips posted 2015 sales of EUR 24.2 billion and employs approximately 104,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.
Notice regarding forward-looking statements:
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 each entity. 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.
For further information, please contact: Profound Medical Rebecca von Goetz Profound Medical Corp. Tel.: +1 647 476 1350, Ext. 426 Mobile: +1 417 917 8650 E-mail: email@example.com Philips Steve Klink Philips Group Communications Tel.: +31 6 10888824 E-mail: firstname.lastname@example.org