Medifocus Inc. Announces Appointment of New Chief Executive Officer
COLUMBIA, Md. and Toronto, ON- October 3, 2016 – Medifocus, Inc. (OTCQX:MDFZF and TSXV:MFS.V) (“Medifocus” or the “Company”), a biotechnology company with a portfolio of medical products encompassing thermotherapy systems for the treatment of Benign Prostatic Hyperplasia (BPH) and Breast Cancer, today announced the appointment of William Jow, M.D. to the position of Chief Executive Officer, effective October 1, 2016, replacing Augustine Y. Cheung, Ph.D., the founder of the Company.
“We thank Dr. Cheung for his service at Medifocus and wish Dr. Cheung the best in the next phase of his career.” said Mr. Grant Walsh, Chairman of the Board of Directors. “Dr. Jow has served Medifocus as Medical Director since 2014 and provided invaluable advisory services to Medifocus. He was appointed President of the Company in March 2016 and has successfully reduced operating expenses and improved gross margin. He has demonstrated his leadership and vision in moving the Prolieve® business to a more sustainable path in the last six months. His knowledge in urology and the urology market in the U.S. will benefit Medifocus in many ways. As a result, we saw marked improvements in operation efficiency and financial results for the quarter ended June 30, 2016.”
Dr. William Jow, the new Chief Executive Officer of Medifocus, commented, “As a practicing urologist who has been using Prolieve® and other minimally invasive procedures to treat patients with BPH symptoms, I can say with confidence that Prolieve® therapy is the best alternative to BPH medications, surgeries and other thermal/RF/laser vaporization procedures for a vast majority of BPH patients. Prolieve® Thermodilatation is the only TUMT system equipped with a dilating balloon that compresses the prostatic urethra during treatment. Such tissue compression allows effective thermotherapy to be delivered at a lower microwave energy which translates into better patient comfort and safer operation. Thermodilatation also assures a patent post-treatment prostatic urethra that contributes to a much lower post-treatment catheterization rate. More importantly, all Prolieve® consoles are equipped with an automatic shut-off safety mechanism which keeps the rectal temperature below 41 to 42 degrees Celsius as demonstrated in our thermal mapping studies. All these unique features render Prolieve® a safe, effective and well-tolerated outpatient procedure as confirmed in our recent 10-year Post Market Follow-up Study. To date, over 100,000 Prolieve® cases have been performed in the U.S.”
Dr. Jow added, “Thanks to our corporate restructuring efforts over the past six months, Medifocus has emerged as a much stronger company poised for future growth. Our team has expanded to include V.P. of Operations Stuart E. Katz, M.D., urologist, IT/Marketing Specialist Warren Sekino and other medical expert consultants. Together, we are proud to provide this state-of-the-art, safe and effective treatment to many more BPH patients in the U.S. and beyond.”
William W. Jow, M.D. received his M.D. degree from New York University in 1986. Following his surgical and urological residencies at Mount Sinai Medical Center and University of Buffalo, and fellowship training at Weill Cornell Medical College, he had served as Assistant Professor at Rutgers Robert Wood Johnson Medical School in New Jersey. Dr. Jow has been in private practice for over 20 years, and has been Chairman of Urology at Hackensack Meridian Health – Bayshore Hospital in Holmdel, New Jersey, and served on its Medical Executive Committee since 2012. He has also served as consultants to various sales and product development ventures before joining Medifocus as Scientific & Business Development Consultant and Medical Director in 2014.
About Medifocus, Inc.:
Medifocus, Inc. (TSXV-MFS, OTC-MDFZF) is a biotechnology company with a portfolio of medical technologies that utilize heat activation to treat conditions ranging from prostate diseases to breast cancer. Heat is known to accelerate numerous biochemical and cellular processes, and Medifocus’ portfolio relies on this fact to improve clinical outcome. Its Prolieve® Thermodilatation System offers relief from Benign Prostatic Hyperplasia (BPH) to millions of men with a simple, 45-minute in-office treatment. Its APA-1000™ Breast Cancer Thermotherapy System is currently in phase 3 clinical trials, and is designed to treat localized and locally advanced breast cancers through the application of heat alone or in combination with chemotherapy.
www.medifocusinc.com, www.prolieve.com and //www.facebook.com/pages/Medifocus-Inc-Company-Page/546315028715627 for more details.
This news release contains “forward-looking statements” and “forward-looking information”, which may not be based on historical facts. Forward-looking statements and forward-looking information, include, but are not limited to, information and statements with respect to the benefit to Medifocus’ future growth resulting from the acquisition of additional intellectual property rights, additional treatment possibilities and the expectation that sales from Prolieve® may accelerate as a consequence. Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made. Such forward-looking statements and forward-looking information involve known and unknown risks, uncertainties and other factors that may cause the actual results events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements or forward-looking information. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements and forward-looking information. Except as required by applicable securities laws, the Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results, events or developments.
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