Profound Medical Signs Agreement with GE Healthcare to Expand Provider Access to TULSA-PRO®
December 21 2020 - 7:30AM
Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (“Profound” or the
“Company”), the only company to provide customizable, incision-free
therapies which combine real-time Magnetic Resonance Imaging
(“MRI”), thermal ultrasound and closed-loop temperature feedback
control for the radiation-free ablation of diseased tissue,
announced today that it has entered into a co-development agreement
with GE Healthcare.
GE Healthcare and Profound have agreed to a
non-exclusive, worldwide license that will enable Profound to
interface its TULSA-PRO® system with certain GE Healthcare MRI
scanners. The collaboration with GE Healthcare expands Profound’s
potential to interface with a significant portion of GE’s new and
currently installed MRI scanners globally.
“Profound’s exciting noninvasive therapy
technology has the potential to bring significant benefit to a
large number of prostate cancer patients,” said Baldev Ahluwalia,
GE MR Beyond segment general manager. “GE Healthcare has a long
history of applying MR to therapy guidance and control; we are
pleased to add TULSA-PRO® capabilities to provide our customers
with more options to treat their patients.”
“We are excited to expand the portfolio of MRI
scanners that support TULSA-PRO® technology,” said Arun Menawat,
Profound’s CEO and Chairman. “The addition of GE Healthcare gives
our customers the maximum flexibility to use the MRI hardware of
their choice. We are grateful to our existing customers who have
embraced TULSA-PRO® and look forward to making the benefits of this
technology even more widely available.”
About Profound Medical
Corp.
Profound is a commercial-stage medical device
company that develops and markets customizable, incision-free
therapies for the ablation of diseased tissue.
Profound is commercializing TULSA-PRO®, a
technology that combines real-time MRI, robotically-driven
transurethral ultrasound and closed-loop temperature feedback
control. TULSA-PRO® is designed to provide customizable and
predictable radiation-free ablation of a surgeon-defined prostate
volume while actively protecting the urethra and rectum to help
preserve the patient’s natural functional abilities.
TULSA-PRO® has the potential to be a flexible technology in
customizable prostate ablation, including intermediate stage
cancer, localized radio-recurrent cancer, retention and hematuria
palliation in locally advanced prostate cancer, and the transition
zone in large volume benign prostatic hyperplasia (BPH). TULSA-PRO®
is CE marked, Health Canada approved, and 510(k) cleared by the
U.S. Food and Drug Administration (“FDA”).
Profound is also commercializing Sonalleve®, an
innovative therapeutic platform that is CE marked for the treatment
of uterine fibroids and palliative pain treatment of bone
metastases. Sonalleve® has also been approved by the China
National Medical Products Administration for the non-invasive
treatment of uterine fibroids and has FDA approval under a
Humanitarian Device Exemption for the treatment of osteoid osteoma.
The Company is in the early stages of exploring additional
potential treatment markets for Sonalleve® where the
technology has been shown to have clinical application, such as
non-invasive ablation of abdominal cancers and hyperthermia for
cancer therapy.
About GE Healthcare
GE Healthcare is the $16.7 billion healthcare
business of GE (NYSE: GE). As a leading global medical technology
and digital solutions innovator, GE Healthcare enables clinicians
to make faster, more informed decisions through intelligent
devices, data analytics, applications and services, supported by
its Edison intelligence platform. With over 100 years of healthcare
industry experience and around 50,000 employees globally, the
company operates at the center of an ecosystem working toward
precision health, digitizing healthcare, helping drive productivity
and improve outcomes for patients, providers, health systems and
researchers around the world. Follow us
on Facebook, LinkedIn, Twitter and Insights ,
or visit our website www.gehealthcare.com for more
information.
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, uterine fibroids,
palliative pain treatment, and osteoid osteoma. 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,
regulatory approvals, reimbursement, 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. In addition, there is uncertainty
about the spread of the COVID-19 virus and the impact it will have
on Profound’s operations, the demand for its products, global
supply chains and economic activity in general. 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.
For further information, please contact:
Stephen KilmerInvestor Relationsskilmer@profoundmedical.com T:
647.872.4849
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