Genesys Capital backs Profound Medical's $34.5 mln offering
Profound Medical Corp (TSX-V: PRN), a Toronto-based medical device company focused on treatments for prostate cancer and other diseases, has raised $34.5 million in the close of a bought deal financing. Canadian life sciences venture capital firm Genesys Capital, Profound's founding investor, confirmed its participation in the offering with PE Hub Canada. Profound, which went public in 2015, said it will use the proceeds to advance clinical trials and commercialization of its TULSA-PRO and Sonavelle systems, and support R&D and acquisitions. Led by CEO Arun Menawat, Profound is also a portfolio company of BDC Capital's Healthcare Fund.
21 March 2018•3 mins read
