June 30, 2017 / 1:29 PM / a year ago

BRIEF-Profound Medical announces agreement with Royal Philips to acquire Sonalleve MR-HIFU Business

June 30 (Reuters) - Profound Medical Corp:

* Profound Medical -Philips to transfer Sonalleve MR-HIFU assets to profound for upfront consideration of 7.4 million common shares of profound at C$1.10/share

* Profound Medical Corp. Announces definitive agreement with royal philips to expand collaboration and acquire sonalleve MR-HIFU business

* Profound Medical Corp - agreement also includes certain earn-out provisions tied to future revenue levels

* Profound Medical - Philips, profound will also expand their non-exclusive strategic sales relationship to include distribution of Sonalleve MR-HIFU

* Profound Medical Corp - if successful, tact is expected to support Profound’s application to fda for approval to market TULSA-PRO(®) in United States

* Profound Medical- TULSA-PRO is ce marked and co is also sponsoring its FDA-registered clinical trial, tact

* Profound Medical Corp - is currently conducting pilot commercial launch of Tulsa-Pro in key european, other ce mark jurisdictions Source text for Eikon: Further company coverage:

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