Profound

Profound Medical Corp. operates as a commercial-stage medical device company, focusing on incision-free therapies for diseased tissue ablation. Founded in 2008 and headquartered in Canada, the company's origins trace back to technology developed at Sunnybrook Hospital in Toronto, which was licensed by venture fund Genesys Capital.

The company is steered by Chairman and CEO Dr. Arun Menawat, an executive with a significant background in guiding medical technology companies from startup phases to commercial success. His experience includes leading Novadaq Technologies to become a fast-growing, NASDAQ-listed company and serving as president of Cedara Software, which developed a medical imaging platform now part of IBM's Watson Health. Dr. Menawat holds a Ph.D. in Chemical Engineering from the University of Maryland and an Executive MBA from the Kellogg School of Management.

Profound Medical's business model centers on its TULSA-PRO® system, an advanced platform for ablating prostate tissue. The company generates revenue through a razor-blade model, which includes the one-time sale of capital equipment and, more significantly, recurring revenue from the sale of single-use consumables, leases, and services. For the full year 2023, the company reported revenues of approximately $7.2 million, with recurring revenue constituting $6.8 million of that total. The company serves hospitals and outpatient imaging centers, with a strategic focus on early adopters and top-tier cancer hospitals in the United States.

The flagship product, TULSA-PRO®, is a technology platform that combines real-time Magnetic Resonance (MR) imaging, robotically-driven transurethral ultrasound, and closed-loop temperature feedback control. This system allows physicians to perform a customizable and predictable radiation-free ablation of a surgeon-defined prostate volume. The procedure is performed transurethrally, meaning a device is inserted through the urethra, to deliver ultrasound energy outwards to destroy targeted tissue from the inside-out. Key benefits include the preservation of surrounding healthy structures, a lower risk of side effects like sexual and urinary dysfunction, and faster patient recovery compared to traditional surgery or radiation. The procedure is a single-session outpatient treatment that typically takes a few hours. Significant milestones for the TULSA-PRO® system include receiving the CE Mark in Europe in 2016 and U.S. FDA 510(k) clearance in August 2019. Profound is also developing a suite of AI-powered software modules, branded 'TULSA-AI', to enhance the system's ease of use and efficiency.

Keywords: prostate ablation, TULSA-PRO, MRI-guided ultrasound, medical devices, transurethral ultrasound ablation, prostate cancer treatment, minimally invasive surgery, BPH treatment, Arun Menawat, Sonalleve, thermal ablation, urology, image-guided therapy, robotic surgery, health technology, incision-free therapy, prostate disease, medical imaging software, outpatient procedure, radiation-free treatment