Accomplished Financial Executive, Steve Forte, Joins Profound Medical’s Board
15 Agosto 2019 - 9:30AM
Profound Medical Corp. (TSX:PRN; OTCQX:PRFMF) (“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, today
announced the appointment of Steve Forte to its Board of Directors.
The appointment of Mr. Forte, who will serve on the Board's Audit
Committee, increases the size of the Board to seven members.
Mr. Forte is a senior finance leader with broad
experience managing complex, large-scale finance environments. Most
recently, he served as Chief Financial Officer at Clementia
Pharmaceuticals Inc. (NASDAQ:CMTA), which was acquired by Ispen
S.A. for approximately US$1.3 billion in April 2019. Before joining
Clementia, Mr. Forte was CFO of Thinking Capital Financial
Corporation, a leading financial technology firm, which he helped
lead through rapid growth and ultimately to a successful sale of
the company to Purpose Investments. Prior to that, Mr. Forte’s
experience includes nearly a decade at Aptalis Pharma Inc., where
he was responsible for the overall corporate controllership
function of a multinational pharmaceutical company with
approximately $700 million in annual revenue, six operating
companies, five manufacturing sites and 40 subsidiaries. Mr. Forte
led Aptalis’ preparations for a U.S. IPO prior to the successful
sale of the company to Forest Labs for US$2.9 billion. Mr. Forte
received his Bachelor of Commerce in Accountancy from Concordia
University and is a CPA/CMA.
“On behalf of everyone at Profound, I am very
pleased to welcome Steve to our team,” commented Brian Ellacott,
Independent Lead Director of the Company’s Board. “Steve is not
only an experienced financial executive in the life science
industry, but also has a breadth of relevant NASDAQ listing and
M&A experience that could prove to be invaluable as Profound
executes the next stages of its growth strategy. I am confident
that his expertise and guidance will be of significant benefit to
the Company and its shareholders.”
About Profound Medical
Corp.
Profound develops and markets customizable,
incision-free therapies for the ablation of diseased tissue.
Profound is commercializing TULSA-PRO®, a novel
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® is CE marked and commercially
launched in key European and other CE mark jurisdictions.
TULSA-PRO® is demonstrating 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).
In April 2019, Profound announced positive
topline results from a multicenter, prospective clinical trial,
TACT, which is expected to support its recent application to the
FDA for 510(k) clearance to market TULSA-PRO® in the United
States.
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 Food and
Drug 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, 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.
For further information, please contact:
Stephen KilmerInvestor Relationsskilmer@profoundmedical.com T:
647.872.4849
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