COLUMBIA, MD, Sept. 14, 2016 /CNW/ - 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, is pleased to
announce the election of William W.
Jow, M.D. as a member of the Board of Directors of the
Company at the Company's annual and special meeting held on
August 31, 2016. In addition,
incumbent directors Messrs. Joseph S.C.
Chan, Augustine P.Y. Chow,
Raymond Tong and Mr. Grant B. Walsh (Chairman) were also re-elected.
Augustine Y. Cheung, Ph.D. did not
stand for re-election to the Board.
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, Dr. Jow received the American Urological Association (AUA)
Scholar Award to complete a 2-year Fellowship at Weill Cornell
Medical College and Center for Biomedical Research at Rockefeller University in New York. He then served as Assistant
Professor at Rutgers Robert Wood Johnson Medical School in
New Jersey for 2 years. Dr. Jow
has been in private practice for over 20 years, and has ample
experience in utilizing various minimally-invasive techniques in
treating BPH, prostate cancer and prostatitis. He 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 published many
medical and scientific papers, served as expert reviewer for
urology journals and lectured in topics ranging from oncology to
preventive medicine. Dr. Jow received many honors and awards
including Phi Beta Kappa, Memorial Sloan-Kettering Cancer
Center Tri-Institutional (MSKCC, Cornell & Rockefeller) Research Grant, the
prestigious American Society of Andrology Hamilton-Thorne Award for
his pioneering research in Gene Expression, AUA Best Research
Presentation Award, Compassionate Doctor Award, Patients' Choice
Award and Healthgrades Five-Star Physician Recognition. He has
served as consultants to various sales and product development
ventures before serving as Scientific & Business Development
Consultant and Medical Director of Medifocus Inc. since 2014.
"I am delighted to welcome Dr. Jow to our Board and look forward
to working with him, Medifocus is fortunate to have Dr. Jow on
board to guide it through this critical period. Dr. Jow has served
Medifocus as Medical Director since 2014 and provided invaluable
advisory service to Medifocus. He has been appointed as President
since March 2016 and in charge of
Prolieve operation. He has demonstrated his leadership and vision
in moving the Prolieve business to a more sustainable path for
future growth in 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," said Mr. Grant
Walsh, Chairman of the Board of Directors.
For the quarter ended June 30,
2016, Prolieve sales were US$1,186,855, an increase of 5% over the same
period of 2015; gross margin increased by $176,807, or 60% over last year; while loss from
operations for the three months decreased to $172,107 from $636,708 in 2015, representing a 73% reduction.
These positive moves reflect the cost savings being realized from
the Company's restructuring process initiated in the first quarter
of 2016. Compared to the three months ended March 31, 2016, the sales from the three months
ended June 30, 2016 increased 4%,
gross margin increased 45%, and loss from operation decreased
68%.
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 and
breast cancer. Heat is known to accelerate numerous chemical and
biochemical reactions, 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 Treatment System
is currently in phase 3 clinical trials, and it 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
www.facebook.com/pages/Medifocus-Inc-Company-Page/546315028715627
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this release.
SOURCE Medifocus Inc.
