World News: 15:10 GMT Wednesday 11th July 2018. [Profound Medical Corp. via Globe Newswire via SPi World News]
TORONTO, July 11, 2018 (GLOBE NEWSWIRE) -- Profound Medical Corp. (TSX-V:PRN) (OTCQX:PRFMF) (“Profound” or the “Company”), the only company to provide a therapeutics platform that provides the precision of real-time Magnetic Resonance (“MR”) imaging combined with the safety and ablation power of directional and focused ultrasound technology for the incision-free ablation of diseased tissue, announced that it has received final approval for the listing of its common shares (the "Common Shares") on the Toronto Stock Exchange (the "TSX").
The Common Shares will commence trading on the TSX effective as of the open of the market on July 13, 2018. Upon listing on the TSX, the Common Shares will continue to trade under the symbol "PRN". In conjunction with listing on the TSX, the Common Shares will concurrently be delisted from the TSX Venture Exchange.
"Graduating to the TSX is a significant milestone for our Company,” commented Arun Menawat, Profound’s CEO. “The TSX is Canada's premier stock exchange and this should increase the visibility of Profound to a broader and more diverse range of institutional investors, both at home and abroad.”
Shareholders are not required to exchange their stock certificates or take any other action in connection with the TSX listing, as there will be no change in the trading symbol or CUSIP for the Common Shares.
The Profound Medical Corp. team is committed to creating the powerful combination of real-time MR-guidance as the imaging platform and ultrasound as the energy source for delivering non-invasive ablative tools to clinicians. These key technology pillars, linked with intelligent software and robotics, have the potential to fulfill unmet needs of patients and clinicians in many anatomies and disease states, including prostate cancer, uterine fibroids, and bone metastases. Our mission is to profoundly change the standard of care by creating a tomorrow where clinicians can confidently ablate tissue with precision; a tomorrow where patients have access to safe and effective treatment options, so they can quickly return to their daily lives.
Profound 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 currently conducting a pilot commercial launch of the technology in key European and other CE mark jurisdictions. The Company is also sponsoring a multicenter, prospective FDA-registered clinical trial, TACT, which, if successful, is expected to support its application to the FDA for clearance to market TULSA-PRO in the United States.
Profound Medical is also commercializing Sonalleve, an innovative therapeutic platform that combines real-time MR imaging and thermometry with thermal ultrasound to enable precise and incision-free ablation of diseased tissue. Sonalleve is CE marked for the treatment of uterine fibroids and palliative pain treatment of bone metastases. The technology was also recently approved by the Chinese Food and Drug Administration for the non-invasive treatment of uterine fibroids. The Company is also in the early stages of exploring additional potential treatment markets for Sonalleve, such as non-invasive ablation of abdominal cancers and hyperthermia for cancer therapy, where the technology has been shown to have clinical application.
Stephen Kilmer Investor Relations T: 647.872.4849
Aaron DavidsonChief Financial Officer and Senior Vice-President of Corporate DevelopmentT: 647.476.1350
Globe Newswire: 15:10 GMT Wednesday 11th July 2018
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