Profound Medical Appoints CFO and Senior Vice President of Corporate Development

Profound Medical Corp., the only company to provide a therapeutics platform that provides the precision of real-time magnetic resonance (MR) imaging combined with the safety and ablation power of directional and focused ultrasound technology for the incision-free ablation of diseased tissue, has appointed Aaron Davidson as chief financial officer (CFO) and senior vice president of Corporate Development.
 
“We are delighted to welcome Aaron to our team,” commented Arun Menawat, Profound’s CEO.  “His financial acumen, capital markets experience, track record of results and broad healthcare industry experience will strongly support our growth efforts.  Aaron’s strengths and capabilities are well-known to me as we previously worked together at Novadaq. It will be a genuine pleasure to work with him again.”
 
Davidson has an accomplished history of leadership success within the global healthcare industry. Most recently, he was co-head and managing director of H.I.G. BioHealth Partners, where he focused on investment opportunities with emerging life sciences companies. Davidson began his career with Eli Lilly and Company, where he spent a decade in various operating management roles in the United States and Canada, including financial management, business development, strategic planning, market research and general management. Davidson continues to serve as venture partner at H.I.G. and on the board of directors of HyperBranch Medical Technology, Intact Vascular, and On Target Laboratories. Previously he led investments in, worked with the management teams of, and represented H.I.G. as a board member of several successful companies, including Alder Biopharmaceuticals (public), Forsight Vision5 (acquired), Gemin X Pharmaceuticals (acquired), Novadaq Technologies (public/acquired), and Salmedix (acquired).

Davidson earned his MBA from Harvard Business School and a bachelor’s degree in finance from McGill University.
 
The Profound Medical team is committed to creating the powerful combination of real-time MR-guidance as the imaging platform and ultrasound as the energy source for delivering non-invasive ablative tools to clinicians. These key technology pillars, linked with intelligent software and robotics, have the potential to fulfill unmet needs of patients and clinicians in many anatomies and disease states, including prostate cancer, uterine fibroids, and bone metastases. Its mission is to profoundly change the standard of care by creating a tomorrow where clinicians can confidently ablate tissue with precision; a tomorrow where patients have access to safe and effective treatment options, so they can quickly return to their daily lives.
 
Profound Medical is commercializing a novel technology, TULSA-PRO, which combines real-time magnetic resonance imaging with transurethral, robotically-driven therapeutic ultrasound and closed-loop thermal feedback control that is designed to provide precise ablation of the prostate while simultaneously protecting critical surrounding anatomy from potential side effects. TULSA-PRO is CE marked and Profound Medical is currently conducting a pilot commercial launch of the technology in key European and other CE mark jurisdictions. The company is sponsoring a multicenter, prospective U.S. Food and Drug Administration (FDA)-registered clinical trial, TACT, which, if successful, is expected to support its application to the FDA for clearance to market TULSA-PRO in the United States.
 
Profound Medical is also commercializing Sonalleve, a therapeutic platform that combines real-time MR imaging and thermometry with thermal ultrasound to enable precise and incision-free ablation of diseased tissue. Sonalleve is CE marked for the treatment of uterine fibroids and palliative pain treatment of bone metastases. The company is in the early stages of exploring additional potential treatment markets for Sonalleve, such as non-invasive ablation of abdominal cancers and hyperthermia for cancer therapy, where the technology has been shown to have clinical application.