PMI of Ontario, and Nanomotion of Israel, enter MOU to advance innovation and commercialisation for image-guided, minimally-invasive medical devices

Profound Medical Inc. (PMI) and Nanomotion Ltd, have today entered into a Memorandum of Understanding (MOU) to increase co-operation on technological and commercial development.
PMI has selected Nanomotion as a lead supplier of key parts and components of their novel medical device for the treatment of prostate cancer, and will through this MOU offer Nanomotion the first option to bid on parts, components and potentially production and assembly of PMI’s proprietary, IP-protected, MRI-compatible motor. PMI’s medical device will soon move into human clinical trials with several regulatory bodies around the world.
Nanomotion has agreed to act as, for the time being, a non-exclusive agent for PMI with respect to commercial entities interested in utilising PMI’s MRI-compatible motor, or custom versions thereof.       
Cameron Mahon, Vice-President of Engineering & Product Development for Profound Medical, currently in Israel with Ontario Premier Dalton McGuinty promoting ties between technology companies in Israel and Ontario commented “Israel’s capabilities in medical device development are well documented and well appreciated. Through the development of our prototype system, and now as we ramp up to produce a greater number of clinical systems, Nanomotion have continually impressed us with their ability to deliver a high-quality, highly technical product. Considering we are a life science start-up in a tough financing market, it’s nice to find a company so willing to invest in the future by being so customer-centric and responsive from day one. ”

About Profound Medical

Prostate Cancer affects >250,000 men each year in North America annually, and well over 500,000 globally. Worryingly, many of those treated with existing surgeries subsequently suffer debilitating side-effects of impotence and incontinence.
Profound Medical Inc. (PMI) is commercialising a truly unique, minimally-invasive approach for the treatment of prostate cancer, combining the already proven clinical efficacy of ultrasound thermal therapy with the unparalleled imaging capabilities of MRI. Our prototype has seamlessly integrated these two technologies into a system that could provide an unmatched level of speed, precision and accuracy in the treatment of the whole prostate, or targeted regions of the prostate. In just 18 months since foundation, the company has advanced from research prototype to a clinical system, has agreed a clinical plan with regulatory bodies, and is now finalising partnering agreements with a major MRI vendor and several notable healthcare institutions to start clinical trials.
For more information please contact Paul Chipperton:
T: 647 291 8545
E: pchipperton@profoundmedical.com

About Nanomotion

Utilizing proprietary technology, Nanomotion designs and manufactures complete motion solutions from start to finish. Using our unique ceramic servo motors, drivers and controllers, Nanomotion creates single and multi-axis motion systems that best suit the needs of your application. Nanomotion provides superior motion solutions based both on the level of performance required in today's marketplace, and future market needs. Nanomotion's motors are compact and miniature in size, offer extremely accurate and precise movement, high resolution and low settling time, coupled with dynamic range of velocity and force.

Based on the principles of piezoelectricity, Nanomotion has designed a series of ultrasonic motors that have no moving parts and that have no extrinsic or intrinsic magnetic fields. In stall mode, the motors have no electrostatic fields as well. Furthermore, Nanomotion also designs and manufactures application specific motors for high volume applications that suit a wide range of micro mechanic specifications.

Nanomotion's products are sold internationally, with wide-ranging customer bases in the USA, Europe, Middle East and the Far East. Nanomotion channels its marketing and sales activities through an extensive network of international distributors based in the USA, Europe, and the Far East.