CLEVELAND, Aug. 15, 2016 /PRNewswire/ -- ViewRay, Inc. (Nasdaq: VRAY) announced today that the company received Shonin approval from the Japanese Ministry of Health, Labor and Welfare (MHLW) to market the MRIdian System.
MRIdian is the world's first and only clinical MRI-guided radiation therapy system. The MRIdian system is a unique medical instrument that integrates full-time MR imaging, cobalt radiation delivery, and intelligent software automation. Using the MRIdian system, clinicians can see soft tissue, and visualize and adjust the dose — all in real time, on live anatomy. With MRIdian this is done without exposing the patient to the additional ionizing radiation that is common with other imaging modalities.
Japan is the world's third largest market for radiation oncology, and this approval represents a significant step in ViewRay's geographic expansion. ViewRay is represented in Japan by ITOCHU Corporation, one of the three largest general trading companies in Japan. ITOCHU has been focusing on the healthcare business to promote important medical innovations in Japan for approximately 40 years.
"Together with our partner ITOCHU Corporation, we are pleased to be able to bring the advantages of MRI-guided radiation treatment to cancer patients in Japan," said Chris A. Raanes, President and Chief Executive Officer of ViewRay. "Not only is Japan a large market, its radiation oncologists have traditionally been early adopters of advanced medical technologies. We expect the MRIdian system to be well received and for patients throughout Japan to benefit from more precise, personalized radiation treatment."
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.
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 the benefits of the MRIdian system for physicians and patients in Japan and the expected reception of the MRIdian system in Japan. 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.