Successful Expansion of Prolieve® Global Market & Launching of Prolieve® Prostatitis Study
COLUMBIA, MD / ACCESSWIRE / August 28, 2017 / Medifocus, Inc. (OTCQB: MDFZF and TSXV: MFS) ("Medifocus" or the "Company"), reported significant improvement in its financial results for the fiscal year ending March 31, 2017.
The Company achieved a 16% improvement in gross margin and an 84% decrease in operating loss during the last fiscal year. The operating loss dramatically improved from $3,216,805 for the year ending March 31, 2016, to $511,393 for the year ending March 31, 2017.
William Jow MD, President and Chief Executive Officer of Medifocus, commented, "Now with the more efficient operations in place, we can focus on driving sales of Prolieve ® through close partnerships with our independent mobile providers and distributors, both domestically and internationally." He added, "We have achieved an important milestone in expanding the Prolieve® market beyond the U.S. for the first time in Medifocus' history. The first case of Prolieve® outside of the U.S. was recently performed by a local urologist at the Hong Kong Prostate and Urology Center." Dr. Jow noted that similar collaborative efforts with business partners/distributors in other countries including Canada, China, Israel and South Korea are currently under way, and will likely increase the Company revenue through the sales of Prolieve® consoles and single-use Prolieve® treatment kits worldwide.
Dr. William Jow also presented findings from the 10-year Post Market Study of Prolieve® Thermodilatation™ Therapy with 5-year follow-up at the 15th Urological Association of Asia (UAA) Congress held at the Hong Kong Convention and Exhibition Center on August 4, 2017. Dr. Jow gave a summary of the Natural History of BPH progression and its associated complications, then described how Prolieve® fitted the ideal profile of the Minimally Invasive Technology that could change such history based on proven long-term safety, efficacy and durability data. His revolutionary concept of preventing BPH progression with minimal or no sexual side effects by using Prolieve® in an aging population will have far reaching implications in the emerging Global Men's Health Market.
"While our patents have entitled us to treat other prostate conditions such as prostate cancer and prostatitis, Prolieve® has only been approved by the FDA for treating BPH to date," Dr. Jow announced, "In order to expand the clinical indications of Prolieve®, we have recently secured funding and support to launch a multicenter, prospective study to evaluate the clinical benefits of Prolieve® on prostatitis patients with voiding symptoms. As a urologist myself, I see a great potential for Prolieve® to emerge as a vital minimally invasive therapy for BPH and Men's Health around the world." He continued, "The Prolieve® Prostatitis Study will be designed and overseen by a world renowned urology expert in the field of prostatitis with global collaborative efforts from major academic institutions and experienced Prolieve® users."
About Medifocus, Inc.
Medifocus, Inc. (OTCQB: MDFZF, TSXV: MFS) is a Biotechnology Company with a portfolio of medical technologies that utilize patented Focal Thermal Technology to treat conditions ranging from Prostate Diseases to Breast Cancer. Its' Prolieve® Thermodilatation™ System offers symptomatic relief to men with Benign Prostatic Hyperplasia (BPH) through a simple, 45-minute, in-office treatment. Prolieve® is both FDA and Medicare approved for treating symptomatic BPH with over 100,000 cases performed in the U.S. alone, and with proven long-term safety, efficacy and durability. The Company's APA 1000 Breast Cancer Treatment System developed by Massachusetts Institute of Technology has been shown in Phase 2 clinical trials to offer significant additional shrinkage of the sizes of breast cancer in combined ChemoThermal therapy compared with Chemotherapy alone, and was shown to be effective in reducing margin positivity when patients were treated with APA 1000 before lumpectomy. Furthermore, its' Heat Activated Gene Therapy exclusively licensed from Duke University, aims at utilizing Medifocus’ Focal Thermal Technology to enhance selective expression of therapeutic genes injected intratumorally to optimize cancer cell killing while minimizing systemic side effects.
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Medifocus, Inc. Tel: 410-290-5734
SOURCE: Medifocus, Inc.