Perseon is dedicated to developing innovative technologies to fight cancer. Our products treat soft tissue tumors with precision-focused microwave energy, expanding treatment options for patients and healthcare providers everywhere.
The one-of-a-kind microwave ablation system providing the perfect balance of precise control, flexibility and power.
Physicians who need to ablate soft tissue tumors, both malignant and benign, prefer the MicroThermX microwave ablation system because its 915 MHz frequency results in a deeper penetration into the tissue.Physicians get more power and, at the same time, more control when removing tumors in organs such as lung, liver, and kidney.
When larger ablation zones are required physicians rely on the Synchronous Wave Alignment technology of MicroThermX. Using multiple Perseon antenna tips increases the probability of reaching the center of large tumors and creating larger margins to ensure that all of the surrounding cells are eliminated.
Due to the flexibility of the system physicians use MicroThermX in open surgical procedures and percutaneous ablations. It consists of a single generator and amplifier that deliver microwave energy to single or multiple antenna(s).
The system is not intended for use in cardiac procedures. It is contraindicated in patients with pacemakers or other active electronic device implants and in pregnant women.
"With Perseon, you get a much bigger and better burn in a shorter amount of time."
— Dr. Sohail Contractor, Section Chief, Interventional Radiology Rutgers New Jersey Medical School
Microwave coagulation applicator and system patent.
The company owns eight non-expired patents in the United States related to certain components or technology of its ablation and hyperthermia systems. The company has one patent license from Duke University. 11 new U.S. patent applications have been published in the United States, and 1 foreign patent is issued and others are pending. A total of 29 U.S. patents have been issued to the company. Government Regulation The company’s products sold in the United States are subject to the Federal Food, Drug, and Cosmetic Act (FDCA), as implemented and enforced by the FDA. Certain of the company’s products sold in the United States require FDA clearance to market under Section 510(k) of the FDCA. History The company was incorporated under the laws of the state of Utah in 1978 and was reincorporated in the state of Delaware in 1986. It was formerly known as BSD Medical Corporation and changed its name to Perseon Corporation in 2015.
Perseon CEO Carnell on righting the ship in medtech: http://www.massdevice.com/perseon-ceo-carnell-on-righting-the-ship-in-medtech/
AUGUST 20, 2015 BY FINK DENSFORD
"Perseon LogoPerseon (NSDQ:PRSN), previously known as BSD Medical, has gone through some significant changes in the past year – renamed, rebranded, and divested of assets. At the helm for these changes is Clint Carnell, former CEO of MyoScience, advisor to Covidienand veep of sales at Bausch & Lomb’s surgical division.
Carnell has been in the medical device industry for more than 20 years, and spoke to MassDevice.com about his transition to Perseon earlier this year, how he’s helping the company turn around and how and why he operates within the medical device industry.
Perseon's Clint Carnell
Carnell “There’s nothing like being in medical devices – you’re working on something with smart people, engineers, scientists, physicians. You’re really solving complex problems, you’re developing products that are quite sophisticated and applying them to life saving benefits,” Carnell told MassDevice.com in an interview.
When he joined Perseon, Carnell said the company needed help. It had an incredibly useful device in its microwave ablation technology, but was burdened and on a sliding trajectory.
“I’m comfortable coming into companies that have had troubles – identifying problems, creating critical solutions and hiring and inspiring a team to fix them,” Carnell said.
He did just that, taking steps to divest the company of its hyperthermia devision, reshaped the board and leadership teams and tried to focus the company on commercializing what he saw as a device that could become a standard of care in the field.
Perseon’s flagship product is the MicroThermX, a microwave ablation system used to ablate soft tissue tumors. The device can be used in percutaneous or open surgical procedures, and received expanded 510(k) clearance earlier this year for laproscopic ablation procedures using image guidance.
The novel product is used to treat cancer, which Carnell said only reinforced the importance of what he does and why he stays in the medical device industry.
“In the case of Perseon, I don’t think there’s a more noble cause than going to work every day trying to fight one of humanity’s worst diseases, and that’s cancer. You never go into business, necessarily, for that reason as a CEO, but it sure is nice to do when you walk through the door and you know that everyone on your team will deliver a product and a service that benefits patients worldwide and puts doctors in a hero’s position,” Carnell said.
Carnell also took steps to shift the culture of the company, changing out 75% of the leadership team and half of the board. This year, Perseonissued guidance for sales of $3.5 million to $5 million, with gross margins of 65% to 75%.
Even with the hard work to reshape it, the company has had a rocky path. Earlier this month, it flirted with delisting by Nasdaq, but managed to bring in enough interest from investors to raise $4.3 million to avoid the jam.
Carnell said the road ahead wouldn’t be simple, for Perseon or any microcap medical device firm. Navigating FDA requirements takes longer, and issues with reimbursements are harder to handle than before, but he said he’s still optimistic.
“I just think it’s a fascinating area to work in. From my standpoint, these are just table stakes if you’re going to run a medical device company – learning how to put a good team together, a good strategy and learning how to overcome the necessary nuances of running a medical device company,” Carnell said.
Carnell said he hopes to expand Perseon’s microwave ablation technology from its current indication for stage 4 treatments to cover all stages. He claims the energy-based ablation is superior to radiofrequency, cryo and other forms of ablation that exist on the market today and is more affordable than the competition.
“Energy ablation, particularly microwave, is really an incredibly powerful tool in helping physicians fight cancer. I think what you’ll see from us and others is expansion into new organs, tumors and a blue sky opportunity to give them better treatment than anyone recognizes. In 5 years, if we’re doing a follow up with MassDevice, it’ll be a no-brainer that physicians go to microwave quickly, and see it as the safe and effective tool it is,” Carnell said.
And though it’s been a lot of hard work, according to Carnell, he’s enjoyed being at the reins for the company’s turnaround.
“It’s been a lot of fun, helping to reshape the company and finally putting it in a position to take advantage of the growth opportunity in front of us,” Carnell said".
What really Caught my eye,there is no other Biotech company trading under $5m Cap that FDA granted the company to market it's one-of-a-kind product and they marketing it right now.not to mention the huge increase on sales growing rate per last 10Q(sales increased 117%)..Get ready for AQXP 's type move.imo
The cheapest biotech NASDAQ company,but still solid, Especially after recent developments:
per 10Q: Assets/debt ratio about 2-solid. this is before recent offering."In connection with the closing of the Company’s registered offering of common stock and warrants on August 4, 2015, the Company received net proceeds of approximately $4.3 million".The Company believes that with the addition of these net proceeds it is now in compliance with the Stockholders' Equity Rule as of the date of this Current Report on Form 8-K. way over the minimum required($2.5m) by Listing Rule 5550(b)(1).
Based on Risks/Rewards, i find this very interesting due to the very low and rare cap,The MicroThermX® sales growing rate(117%!,check below the numbers) and the fact that "The U.S. Food and Drug Administration (FDA) granted the company a 510(k) clearance to market the MicroThermX for ablation of soft tissue".
The company owns eight non-expired patents in the United States related to certain components or technology of its ablation and hyperthermia systems. The company has one patent license from Duke University. 11 new U.S. patent applications have been published in theUnited States, and 1 foreign patent is issued and others are pending. A total of 29 U.S. patents have been issued to the company.Government Regulation The company’s products sold in the United States are subject to the Federal Food, Drug, and Cosmetic Act (FDCA), as implemented and enforced by the FDA. Certain of the company’s products sold in the United States require FDA clearance to market under Section 510(k) of the FDCA. History The company was incorporated under the laws of the state of Utah in 1978 and was reincorporated in the state of Delaware in 1986. It was formerly known as BSD Medical Corporation and changed its name to Perseon Corporation in 2015.
Clinton E. Carnell Jr.
Mr. Carnell brings a successful 20+year track record of building companies and creating shareholder value. He recently served as an advisor to Covidien as executive in residence. From 2011-2014 he was President, Chief Executive and Chairman of myoscience, inc., a silicon valley based medical device company specializing in using cold to treat peripheral nerve conditions in pain and aesthetics. From 2005-2011, Clint was a key member of the executive team responsible for the turnaround of Thermage, Inc. including a successful IPO and responsibility for the integration of Reliant to create Solta Medical, Inc. as Chief Operating Officer. Solta later sold to Valeant Pharmaceuticals for 280 million dollars. Clint holds a Bachelor of Arts degree from Duke University.
William S. Barth
Mr. Barth has decades of experience managing all aspects of the financial responsibilities of private and public medical device and biotech companies. Upon joining Perseon in 2013 he assumed the roles of Chief Financial Officer and Corporate Secretary. Throughout his career he played critical roles in completing several equity, debt, and merger transactions. Bill earned a Bachelor of Science in Accounting from Weber State University.
In 2015 Mr. Beckham joined Perseon as Vice President of Global Sales after accomplished careers with Solta Medical as Vice President of Sales, Americas and with Lifecore Biomedical as Vice President, Sales and Marketing. He has spent more than twenty years working with physicians to integrate new technologies into their practices. His sales leadership acumen and discipline situate our global teams to tout energy ablation. Ben received his BBA in Marketing from University of North Texas.
Perseon appointed Ms. Hoglin as Vice President ofGlobal Marketing in 2015 to capitalize on her marketing skills and medical device knowledge from years of experience with companies such as Edwards Lifesciences, CR Bard, Myriad Genetics, and 3M. She integrates voice of customer and market to all aspects of strategy development, product development, and commercialization.Jennifer earned a BA in Anthropology from TheColorado College and later an MBA from Olin School of Business at Washington University in St. Louis.
Brian A. Meltzer, M.D. joined Perseon in 2015 as Chief Medical Officer and Vice President of Business Development. His clinical knowledge from his years at Memorial Sloan-Kettering Cancer Center as well as his business experience in strategic innovation and new growth opportunities with Purdue Pharma, Johnson & Johnson, and Janssen Healthcare Innovation provide a nice combination that contribute to Perseon being the leader in energy ablation. Brian completed his internship and residency with Internal Medicine, and fellowship in gastroenterology at New York Hospital-Cornell Medical Center. He holds an MBA in Health Care Administration from Baruch College, City University of New York; an M.D. in Medicine from State University of New York Upstate Medical University; and a B.S. in Biomedical Science from City University of New York.
Todd H. Turnlund
Mr. Turnlund was appointed Vice President of Research & Development in 2015. His career of over 25 years of experience with both medical device start-ups and Fortune 500 companies gives him the knowledge and respect to lead engineering teams in translating customer and market needs into marketable devices. Todd earned an undergraduate degree in Mechanical Engineering from University of California at Santa Barbara. Later, he earned an MBA from Santa Clara University.
: Insiders & Institutional Ownership
|Buy(P) / |
|P/S date ||Filed Date ||Company ||Symbol ||Insider ||Relationship ||Share Amt. ||Unit Price ||Total Proceeds ||Shares Owned ||Return(1m) ||Details |
|P ||2015-08-04 ||2015-08-05 18:29:03 ||Perseon Corp ||PRSN ||Turnlund Todd ||officer (VP Engineering) ||50,000 ||$0.88 ||$44,000.00 ||50,000 ||N/A ||view |
|P ||2015-08-04 ||2015-08-05 18:16:31 ||Perseon Corp ||PRSN ||VITULLI PETER ||director ||58,000 ||$0.88 ||$51,040.00 ||58,188 ||N/A ||view |
|P ||2015-08-04 ||2015-08-05 18:12:48 ||Perseon Corp ||PRSN ||STEWART STEVEN G ||director ||5,000 ||$0.88 ||$4,400.00 ||27,572 ||N/A ||view |
|P ||2015-08-04 ||2015-08-05 18:11:33 ||Perseon Corp ||PRSN ||McQuay Timothy C ||director ||12,000 ||$0.88 ||$10,560.00 ||33,910 ||N/A ||view |
|P ||2015-08-04 ||2015-08-05 18:10:05 ||Perseon Corp ||PRSN ||Meltzer Brian A. ||officer (Chief Medical Officer) ||1,000 ||$0.88 ||$880.00 ||1,000 ||N/A ||view |
|P ||2015-08-04 ||2015-08-05 18:07:59 ||Perseon Corp ||PRSN ||Carnell Clint ||CEO ||29,000 ||$0.88 ||$25,520.00 ||29,000 ||N/A ||view |
* An * after P or S in the Buy/Sell column means the transaction was filed by the insider as open market, but it was marked as private transaction by insidercow's proprietary method
|Top Institutional Holders |
|Holder ||Shares ||% Out ||Value* ||Reported |
|Vanguard Group, Inc. (The) ||76,612 ||1.91 ||141,732 ||Jun 30, 2015 |
|Renaissance Technologies, LLC ||25,760 ||0.64 ||47,656 ||Jun 30, 2015 |
|Geode Capital Management, LLC ||14,200 ||0.35 ||26,270 ||Jun 30, 2015 |
|American International Group Inc ||2,220 ||0.06 ||4,107 ||Jun 30, 2015 |
|Citigroup Inc. ||1,453 ||0.04 ||2,688 ||Jun 30, 2015 |
|BlackRock Advisors, LLC ||1,034 ||0.03 ||1,912 ||Jun 30, 2015 |
|Cordasco Financial Network ||270 ||0.01 ||499 ||Jun 30, 2015 |
|Deutsche Bank Aktiengesellschaft ||36 ||0.00 ||66 ||Jun 30, 2015 |
|Pinnacle Summer Investments, Inc. ||10 ||0.00 ||18 ||Jun 30, 2015 |
|Morgan Stanley ||6 ||0.00 ||11 ||Jun 30, 2015 |
|Holder ||Shares ||% Out ||Value* ||Reported |
|Vanguard Total Stock Market Index Fund ||34,668 ||0.86 ||14,213 ||Mar 31, 2015 |
|Vanguard Extended Market Index Fund ||29,310 ||0.73 ||12,017 ||Mar 31, 2015 |
|Vanguard Institutional Index-Inst Total Stock Market Ind ||10,278 ||0.26 ||4,213 ||Mar 31, 2015 |
|Spartan Extended Market Index Fund ||9,564 ||0.24 ||17,693 ||Jun 30, 2015 |
|Spartan Total Market Index Fund ||4,636 ||0.12 ||8,576 ||Jun 30, 2015 |
|Quantitative Master Series Tr-Extended Market Index Series ||1,034 ||0.03 ||423 ||Mar 31, 2015 |
|EQ Advisors Trust-AXA/Lord Abbett Micro Cap Port ||601 ||0.01 ||246 ||Mar 31, 2015 |
View Transactions for Insiders & Institutional Holders
Value shown is computed using the security's price on the report date given.
Currency in USD.
On April 11, 2015 I posted my blog for the first time. We had just set up the office in a portion of the old BSD Medical building and we seem to be moving at the speed of light. It was our first week in business and I complained about the lack of staplers.
Start-ups are awesome.
Who is Pyrexar Medical
Pyrexar Medical was formed to take on the fight against cancer. We purchased the Hyperthermia product line from BSD Medical in April 2015. Our plan is to support the existing BSD-500 and BSD-2000 customers, continue to make product improvements, support the growth of Thermal Oncology and spread the word about this amazing cancer therapy.
33 years experience designing and building hyperthermia products for Oncology departments, research organizations and leading universities.
Level 1 Clinical evidence that demonstrates howHyperthermia makes a significant increase in cancer response rates.
Made in the USA
High quality products, made in the USA, with unrivaled customer service.