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Profound Medical Corp (2)
Symbol PRN
Shares Issued 36,562,007
Close 2026-10-08 C$ 9.84
Market Cap C$ 359,770,149
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Profound Medical, Telix sign prostate care deal

2026-10-09 11:53 ET - News Release

Dr. Arun Menawat reports

PROFOUND MEDICAL AND TELIX PHARMACEUTICALS ENTER CO-EDUCATION AGREEMENT TO ADVANCE PSMA-INFORMED PROSTATE CARE

Profound Medical Corp. has entered into a co-education agreement with Telix Pharmaceuticals Ltd., a commercial-stage global radiopharmaceutical company.

The agreement establishes a framework through which the companies intend to educate urologists, radiologists, nuclear medicine physicians and prostate cancer centres on the complementary roles of Telix's advanced prostate-specific membrane antigen (PSMA) targeting PET molecular imaging technologies, Gozellix and Illuccix 1, and Profound's MRI-guided, artificial-intelligence-powered, robotically driven and incisionless Tulsa-Pro platform across the prostate care continuum.

Planned initiatives include participation in major scientific and medical society meetings, key opinion leader programs, educational summits, speaker programs and webinars, as well as the development of educational content, clinical case studies and best-practice materials. The collaboration is intended to increase physician awareness of PSMA-informed treatment pathways, support appropriate patient selection and treatment planning, and expand access to the Tulsa Procedure.

"This agreement strengthens our relationship with an important strategic participant in the prostate cancer ecosystem and increases our access to urologists across the U.S. and internationally," said Arun Menawat, PhD, Profound's chief executive officer and chairman. "By bringing together advanced molecular imaging and incisionless, MRI-guided therapy, we see an opportunity to support broader market development, enhance clinical education and increase awareness of the complementary value of our respective technologies. Over time, we also believe the incorporation of Telix's PSMA-PET capabilities within Tulsa-Pro centres could strengthen their clinical and economic value proposition, including by supporting more informed treatment decisions and potentially enhancing return on investment."

"As new technologies continue to transform prostate cancer care, clinical education is essential to helping physicians understand how PSMA-PET imaging can inform patient selection and treatment planning across a range of minimally invasive and image-guided approaches," said Kevin Richardson, CEO, Telix Precision Medicine. "Through this collaboration with Profound, we aim to increase awareness of the complementary roles of PSMA-PET imaging and MRI-guided therapy and support more personalized care for patients."

Potential to expand Tulsa-Pro's addressable market

Profound's broader strategic objective is to explore opportunities that could expand the clinical utility and adoption of Tulsa-Pro.

PSMA-PET imaging may help physicians determine whether certain patients with higher-risk disease remain appropriate candidates for the Tulsa Procedure by identifying distant metastases or disease beyond the prostate that may not otherwise be readily detected. Profound believes this additional diagnostic information could enable more precise patient stratification and potentially broaden the population considered for the Tulsa Procedure.

Advancing PSMA-informed Tulsa-Pro treatment planning

Profound is also developing PSMA-PET-MR image-fusion capabilities for inclusion in a planned future release of its treatment delivery console (TDC) software. The planned functionality is intended to allow Telix's diagnostic PSMA-PET data to be incorporated into Tulsa-Pro treatment planning, using real-time intra-operative MR images, which are much more precise than competitor approaches that rely on registering old diagnostic data to real-time ultrasound.

Profound believes that the combination of MRI and PSMA-PET imaging will be an important new differentiator for Tulsa-Pro. It will not only provide clinicians with the enhanced ability to identify appropriate patients for the Tulsa Procedure, but importantly, also potentially design better treatment plans and produce better outcomes.

"Approximately 85 per cent of prostate cancers are multifocal, involving two or more distinct index or satellite lesions in different areas of the prostate, while approximately 15 per cent are unifocal, with a single tumour site," said Mathieu Burtnyk, PhD, Profound's chief technology officer. "A significant strategic advantage of Tulsa-Pro is its ability to support a spectrum of customized, regional ablation plans -- from whole-gland, to focal and everything in between."

Dr. Burtnyk continued: "We believe PSMA-PET has the potential to enhance multiple stages of the Tulsa Procedure, including patient selection, treatment planning, determination of ablation extent and margin definition. Molecular imaging may help identify the approximately 15 to 25 per cent of patients who are candidates for focal ablation, as well as certain higher-risk patients who may remain suitable for whole-gland ablation. Perhaps more significantly still, it may help physicians customize the treatment strategy to each patient's individual disease characteristics."

About Profound Medical Corp.

Profound is a commercial-stage medical device company and an innovator in interventional MRI (iMRI) procedures. The company's flagship platform, Tulsa-Pro, enables MRI-guided, incision-free prostate ablation. Physicians use the Tulsa Procedure to see, ablate and confirm therapy in real time, supporting personalized treatment strategies across the continuum of prostate care -- from whole gland to subtotal, hemi, multifocal and focal treatment. This approach enables individualized care using prostate tissue ablation, while minimizing the potential of the side effects that are typically associated with surgery or radiation, such as urinary incontinence and/or erectile dysfunction.

Profound also commercializes Sonalleve, an MRI-guided therapy that provides a non-surgical treatment option for pain palliation of bone metastases, desmoid tumours and osteoid osteoma, as well as for common gynecologic conditions including uterine fibroids and adenomyosis. Sonalleve delivers targeted therapy with no incisions, no blood loss during the procedure, no overnight hospital stay and faster recovery -- and, in gynecologic applications, enables uterine-sparing treatment that may help preserve fertility. Profound is also exploring additional clinical applications for Sonalleve, including non-invasive ablation of abdominal cancers and hyperthermia-based cancer therapies.

Profound Medical's technologies are approved across major global markets. Tulsa-Pro is cleared by the Food and Drug Administration in the United States for transurethral ultrasound ablation (Tulsa) of prostate tissue. In addition, Tulsa-Pro is cleared for use in various jurisdictions including Europe, Canada, Saudi Arabia, India, Australia/New Zealand and the United Arab Emirates. Sonalleve is approved by the FDA as HDE in the United States for the treatment of osteoid osteomas in the extremities. Sonalleve is also cleared or approved in the Europe, Canada, China and Saudi Arabia.

Through real-time MRI guidance and data-driven innovation, Profound is advancing the future of MRI-guided therapy -- expanding access to precise, personalized and incision-free treatment options worldwide.

We seek Safe Harbor.

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