Profound Medical Announces Changes to its Board of Directors
November 30 2020 - 7:45AM
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 Linda Maxwell, M.D., has resigned from its
Board of Directors and Murielle Lortie, CPA, CA, has been appointed
as Dr. Maxwell’s successor, effectively immediately.
Ms. Lortie has an accomplished history of
financial leadership success within the global life science
industry. She currently serves as Chief Financial Officer of
Liminal BioSciences Inc. (“Liminal”), a Nasdaq-listed,
clinical-stage biopharmaceutical company. Prior to joining Liminal,
Ms. Lortie was Vice President & Chief Financial Officer and
Advisor to the CEO, Global Strategy, Mergers & Acquisitions at
Pharmascience Inc. Previously, she has held senior positions in
finance at Bristol Myers Squibb, including Vice-President of
Finance for Bristol Myers Squibb Canada Co. and Global Director of
Finance supporting BMS Headquarters.
Ms. Lortie is a Chartered Professional
Accountant and member of the Ordre des comptables professionnels
agrées du Québec. She holds a Graduate Diploma in Accountancy from
Concordia University and a Bachelor of Business Administration
Bishop’s University. She has extensive corporate governance
experience, previously serving on the Boards of Bellus Health Inc.
and Pharmascience Barbados Ltd. & Pharmascience International
Ltd. Ms. Lortie is currently a Board member of Finance Executives
International (FEI) Canada.
"On behalf of the Board and staff of Profound, I
would like to take this opportunity to thank Linda for her many
contributions to the Company and wish her all the best in her
future endeavours,” commented said Arun Menawat, Profound’s CEO and
Chairman. “I am also very pleased to welcome Murielle to our team.
She is not only an experienced executive in the life science
industry, but also has a breadth of relevant public company and
Board experience that should be invaluable as Profound executes the
next stages of its growth strategy.”
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.
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. 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.
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, 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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