Profound Medical CFO Steps Down

TORONTO, Nov. 17, 2015 (GLOBE NEWSWIRE) -- Profound Medical Corp. ("Profound" or the "Company") (PRN.V) today announced that Mr. Shameze Rampertab has tendered his resignation as Chief Financial Officer of the Company. Mr. Rashed Dewan, the Company's Corporate Controller, will assume Mr. Rampertab's responsibilities as the Company's interim Chief Financial Officer ("CFO"). The Company intends to commence a search for a new CFO in due course.

Steven Plymale, Chief Executive Officer of the Company commented, "On behalf of the management team and Board of Directors, I would like to thank Shameze for his contributions to Profound Medical. He played a critical role in our recently completed going public transaction and the Board and I wish him success in his future endeavors."

About Profound Medical Corp.

Profound 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

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.

Contact:
For investor or media inquiries, please contact:
Steven Plymale
CEO
Profound Medical Corp.
[email protected]
T: 647-476-1350, Ext. 401
Or
Rebecca von Goetz
Senior Marketing & Communications Specialist
Profound Medical Corp.
[email protected]
T: 647-476-1350, Ext. 426
C: 416.917.8650

Sponsored by GenScript

Accelerate Biologics, Gene and Cell Therapy Product Development partnering with GenScript ProBio

GenScript ProBio is the bio-pharmaceutical CDMO segment of the world’s leading biotech company GenScript, proactively providing end-to-end service from drug discovery to commercialization with professional solutions and efficient processes to accelerate drug development for customers.

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