Profound Medical Corp. (formerly Mira IV Acquisition Corp.)
Profound Medical Corp. and Siemens Enter into Strategic Agreement to Further the
Development of Prostate Cancer Care
TORONTO, Canada and ERLANGEN, Germany (February 29, 2016) – Profound Medical Corp. (TSXV: PRN), a Toronto-based medical device company and Siemens Healthcare today announced that they have signed a strategic collaboration agreement aimed at establishing a new Magnetic Resonance Imaging (MRI) -guided therapy in the clinical routine for prostate cancer patients. The agreement will also advance the commercial launch of Profound’s novel technology, its TULSA-PROTM system. Combining the clinical efficacy of ultrasound thermal therapy with the unparalleled imaging capability of MRI for real-time temperature/procedure monitoring, MRI-guided tissue ablation has untapped potential in clinical management of prostate cancer patients. Profound’s TULSAPRO system combines real-time, Siemens leading MR imaging with transurethral therapeutic ultrasound and closed-loop thermal feedback control, providing a highly precise treatment, tailored to patient-specific anatomy and pathology. Under the terms of the strategic agreement, Siemens unparalleled MRI technology and innovative portfolio for real-time thermometry will be utilized with the TULSA-PRO system to monitor the thermal ablation of tissue directly with the MR scanner. The clear advantage over other treatments is that the coverage of the target volume is controlled in real time while ablating intended tissue and sparing tissue outside the prostate. This technique has the potential to reduce side effects and improve the patient’s quality of life. “Siemens has embraced our technology and we will work together to leverage the strength of their global reputation and success to bring this new technology to market. With their support, TULSA-PRO will soon be available to clinicians and patients as a new alternative for patients with localized prostate cancer,” says Steve Plymale, CEO, Profound Medical Corp. “We are grateful to have such a notable strategic partner.”
Christoph Zindel, MD, General Manager of Siemens Healthcare Magnetic Resonance Business further highlights the importance of the agreement, “This strategic partnership further underlines Siemens Healthcare’s strategy of enabling better patient outcomes by broadening its diagnostic imaging portfolio into advanced therapies. Partnering with Profound, with its leading technology, we will jointly drive healthcare further together with our customers worldwide.” The two companies will each invest approximately $2,000,000 USD on marketing and sales resources in support of a successful product launch pending appropriate regulatory approvals/clearance in Europe and Canada in 2016, and in the US in 2017. Profound Medical and Siemens Healthcare are long-time partners, collaborating since 2011 on the development of minimally-invasive solutions for prostate cancer care.
For Profound Medical media inquiries, please contact: Rebecca von Goetz Senior Marketing & Communications Specialist Profound Medical Corp., T: 647.476.1350, Ext. 426 C: 417.917.8650 [email protected]
For Siemens media inquiries, please contact: Thorsten Opderbeck Siemens Healthcare GmbH Siemens AG Henkestr. 127 91052 Erlangen Germany Tel: +49 (9131) 84-4906 [email protected] 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 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. The potential of this technology is currently being demonstrated in clinical trials. For more information, visit profoundmedical.com
About Siemens Healthcare Siemens Healthcare is one of the world’s largest suppliers of technology to the healthcare industry and a leader in medical imaging, laboratory diagnostics and healthcare IT. All supported by a comprehensive portfolio of clinical consulting, training, and services available across the globe and tailored to customers’ needs. In fiscal 2015, Siemens Healthcare had around 44,000 employees worldwide and posted revenue worth 12.9 billion euros, and profits of more than 2.1 billion euros. Further information is available on the Internet at http://www.healthcare.siemens.com/
***** 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.