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.
About Profound Medical Corp.
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.
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 and palliative pain treatment. 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), nor the OTCQX accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Stephen Kilmer
Investor Relations
skilmer@profoundmedical.com
T: 647.872.4849
Or
Aaron Davidson
Chief Financial Officer and Senior Vice-President of Corporate Development
T: 647.476.1350
