CLEVELAND, Sept. 1, 2016 /PRNewswire/ -- ViewRay, Inc. (Nasdaq: VRAY) announced today that Henry Ford Health System will acquire ViewRay's linear accelerator technology and plans to conduct studies using this innovative linear accelerator-based radiotherapy technology. Henry Ford is the second center in the world, along with the Washington University School of Medicine in St. Louis, and first in Michigan to order ViewRay's MRIdian Linac research system.
Nearly two-thirds of all treated cancer patients in the United States will receive some form of radiation therapy during the course of their illness, according to estimates by the American Society for Radiation Oncology. Precision delivery of radiation therapy is a challenge because tumors and internal organs continually move during treatment. MRI-guidance improves the ability to aim radiation therapy directly at tumors, while avoiding surrounding tissues.
ViewRay has patented innovative solutions that enable the integration of MRI-guidance with a precise linear accelerator for radiation delivery. This breakthrough Linac technology, which is available for non-clinical research use only at this time, is being developed to fit into standard radiation vaults and deliver the highest quality of treatment combined with real-time MRI guidance.
"We see a lot of value in ViewRay's linac-based technology," said Dr. Benjamin Movsas, Chair of Radiation Oncology at Henry Ford Health System. "We are very excited and honored to be taking a leadership role in the assessment of this next-generation technology, as part of our efforts to continually bring the best care to our patients with cancer."
"The Radiation Department at Henry Ford has helped pioneer the field of stereotactic (millimeter focused) radiation and looks forward to developing this novel technology from ViewRay to further enhance this strategy in the future," said Dr. John Popovich, President and CEO of Henry Ford Hospital in Detroit.
"This kind of innovation to enhance patient care is exactly what Henry Ford Health System is all about," said Dr. William Conway, CEO of the Henry Ford Medical Group.
"Henry Ford is nationally recognized for its clinical excellence and innovations in cancer care," said Chris Raanes, president and CEO of ViewRay. "We're so pleased to partner with them in the development and testing of the MRIdian Linac technology."
ViewRay®, Inc. (Nasdaq: VRAY), designs, manufactures and markets the MRIdian® radiation therapy system. MRIdian integrates MRI technology, radiation delivery and proprietary software to locate, target and track the position and shape of soft-tissue tumors during radiation. ViewRay believes this combination of enhanced visualization and accuracy will significantly improve outcomes for patients.
The MRIdian Linac is a technology under development and not available for sale or distribution in the United States. ViewRay and MRIdian are registered trademarks of ViewRay, Inc.
Forward Looking Statements:
This press release contains forward-looking statements. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, references to Henry Ford Health System's receipt of and plans with respect to ViewRay's MRIdian Linac research system, the number of cancer patients in the United States who will receive some form of radiation therapy during the course of their illness and the benefits of the MRIdian system. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue ViewRay's business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize MRIdian Linac technology, competition in the industry in which ViewRay operates and overall market conditions. These forward-looking statements are made as of the date of this press release, and ViewRay assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents ViewRay files with the SEC available at www.sec.gov.
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SOURCE ViewRay, Inc.