Profound Medical (PROF) announced that it has regained exclusive distribution rights for Tulsa-Pro in Canada from Knight Therapeutics. The Tulsa Procedure, performed using the Tulsa-Pro system, is used by physicians to ablate prostate tissue in men suffering from prostate cancer and/or benign prostatic hyperplasia. Pursuant to an agreement entered into with Knight in April 2015, Knight had acted as Profound’s exclusive distributor for the technology in Canada. Profound has now regained the Canadian Tulsa-Pro distribution rights from Knight in return for a one-time cash payment of C$90,000 and a 5% royalty on Canadian net sales for 15 years.
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