Profound Medical Corp. has completed a $36 million registered direct offering, selling 5,142,870 common shares at $7.00 per share. The healthcare-focused medical device company plans to use the net proceeds to expand sales and marketing activities, fund research and development, support strategic transactions, and provide working capital for general corporate purposes.
The offering was structured as a straightforward equity investment without warrant coverage and was led by healthcare-dedicated investors alongside existing shareholders. Konik Capital Partners, LLC, a division of T.R. Winston and Company, LLC, served as the exclusive placement agent for the transaction. This capital infusion comes at a critical time as Profound Medical seeks to accelerate commercialization of its innovative prostate treatment technology.
Profound Medical is commercializing TULSA-PRO, an AI-powered, MRI-guided system that performs incision-free ablation of diseased prostate tissue. The TULSA Procedure employs real-time MRI guidance for precision, aiming to preserve patients' urinary continence and sexual function while killing targeted prostate tissue via sound absorption technology that heats it to 55-57°C. The technology has potential applications across the entire prostate disease spectrum, including various stages of prostate cancer, benign prostatic hyperplasia, and salvage therapy for radio-recurrent localized prostate cancer.
The company's technology represents a significant advancement in prostate treatment, offering a "one-and-done" procedure performed in a single session that typically takes a few hours. According to company information, virtually all prostate shapes and sizes can be safely treated with TULSA, with no bleeding associated with the procedure, no hospital stay required, and most patients reporting quick recovery to normal routines. The TULSA-PRO system is CE marked, Health Canada approved, and 510(k) cleared by the U.S. Food and Drug Administration.
Beyond prostate applications, Profound Medical also commercializes Sonalleve, a therapeutic platform CE marked for treating uterine fibroids, adenomyosis, pain palliation of bone metastases, desmoid tumors, and osteoid osteoma. The technology has received approval from the China National Medical Products Administration for non-invasive treatment of uterine fibroids and FDA approval under a Humanitarian Device Exemption for osteoid osteoma. The company is exploring additional treatment markets where the technology shows clinical application, including non-invasive ablation of abdominal cancers and hyperthermia for cancer therapy.
The $36 million capital raise enables Profound Medical to accelerate market penetration of its technologies at a time when minimally invasive treatment options are gaining traction in healthcare. For patients, this expansion could mean increased access to treatments that offer reduced recovery times and preservation of quality-of-life functions compared to traditional surgical approaches. For the medical device industry, Profound's success could signal growing investor confidence in AI-enhanced, image-guided therapeutic systems that bridge diagnostic imaging with treatment delivery.
As healthcare systems worldwide seek more efficient, cost-effective treatment options with better patient outcomes, technologies like TULSA-PRO that combine artificial intelligence, real-time imaging, and precise energy delivery represent an important evolution in therapeutic approaches. The funding positions Profound Medical to potentially establish its technology as a mainstream treatment modality, particularly in the competitive prostate disease market where patient preference for less invasive options continues to grow.
