Profound Medical Corp. has closed a $36 million registered direct offering, positioning the medical device company to expand commercialization of its AI-powered prostate treatment technology. The offering involved 5,142,870 common shares priced at $7.00 per share, attracting healthcare-dedicated investors alongside existing shareholders in a straightforward equity investment without warrant coverage.
The company plans to allocate net proceeds toward expanding sales and marketing activities, working capital, research and development, strategic transactions, and general corporate purposes. Konik Capital Partners, LLC, a division of T.R. Winston and Company, LLC, served as exclusive placement agent for the offering. The capital infusion comes as Profound advances its TULSA-PRO system, which combines real-time MRI, AI-enhanced planning, robotically-driven transurethral ultrasound, and closed-loop temperature feedback control for prostate tissue ablation.
Profound's TULSA Procedure represents a significant advancement in prostate disease treatment, potentially serving as a mainstream modality across the entire prostate disease spectrum. The technology addresses patients with low-, intermediate-, or high-risk prostate cancer; hybrid patients with both prostate cancer and benign prostatic hyperplasia; men with BPH only; and patients requiring salvage therapy for radio-recurrent localized prostate cancer. The procedure employs real-time MR guidance to preserve urinary continence and sexual function while using precise sound absorption technology to heat targeted prostate tissue to 55-57°C.
As a commercial-stage company, Profound has achieved important regulatory milestones for its technologies. TULSA-PRO is CE marked, Health Canada approved, and 510(k) cleared by the U.S. Food and Drug Administration. The company's Sonalleve therapeutic platform also holds CE marking for treating uterine fibroids, adenomyosis, pain palliation of bone metastases, desmoid tumors, and osteoid osteoma, with additional approvals from the China National Medical Products Administration and FDA under a Humanitarian Device Exemption.
The $36 million financing round demonstrates growing investor confidence in minimally invasive, AI-enhanced medical technologies that offer alternatives to traditional surgical interventions. For business and technology leaders, this development highlights the accelerating convergence of artificial intelligence, robotics, and medical imaging in healthcare innovation. The capital will enable Profound to expand market penetration of its incision-free prostate treatment technology, potentially disrupting conventional approaches to prostate disease management while addressing significant patient concerns about recovery time and quality of life preservation.
Profound's technology platform represents a broader trend toward precision medicine solutions that leverage artificial intelligence for treatment planning and robotic systems for execution. The company's early exploration of additional treatment markets for Sonalleve, including non-invasive ablation of abdominal cancers and hyperthermia for cancer therapy, suggests potential expansion beyond its current focus areas. For more information about Profound Medical Corp., visit https://profoundmedical.com/.
