TORONTO, Oct. 05, 2016 (GLOBE NEWSWIRE) — Profound Medical Corp. (TSXV:PRN) (“Profound” or the “Company”), an emerging medical device company focused on prostate care, announced today that it has received Frost & Sullivan’s 2016 European Prostate Ablation Systems New Product Innovation Award for its TULSA-PROTM system.
TULSA-PRO, which received CE Mark approval in April 2016, 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. The Company announced the first European sales of TULSA-PRO systems in Spain, UK, and Germany earlier this year.
“On behalf of everyone at the Company, I would like to extend my sincere thanks to Frost & Sullivan for this award,” commented Arun Menawat, Profound’s CEO. “It provides further validation that TULSA-PRO represents an attractive clinical option for patients with localized prostate cancer and comes at an opportune time as we continue to build awareness and adoption of this important new therapy in Europe.”
Frost & Sullivan recognizes companies from a range of regional and global markets for their superior leadership, technological innovation, customer service and strategic product development. This year, Profound’s TULSA-PRO system stood out from its competitors based on its proprietary inside-out approach to ablating prostate tissue, and by balancing patient outcomes with treatment cost. The award will be presented to Profound during a banquet held at The Westin Paris – Vendôme hotel in Paris, France, on November 9, 2016.
“Profound Medical’s successful introduction of the TULSA-PRO system to the European market can be attributed to the extensive experience of its management team in commercializing medical devices, including ablation technologies,” commented Arjunvasan Ambigapathy, an Industry Analyst in Technical Insights for Frost & Sullivan. “By demonstrating industry-leading best practice initiatives, the company succeeded in exclusively differentiating its offering as a safe and effective alternative to existing expensive treatment modalities for prostate cancer. The competitive advantage built by Profound Medical has improved its brand reputation as being the only company in the world developing and commercializing a transurethral ultrasound ablation technology.”
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, which is designed to further demonstrate the safety and effectiveness of this innovative technology.
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.
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