January 24, 2017
CLEVELAND, January 24, 2017 — ViewRay, Inc. (Nasdaq: VRAY)announced today that Edogawa Hospital in Tokyo Japan has purchased a MRIdian system, the world’s first and only clinical MRI-guided radiation therapy system, as part of an expansion of the hospital’s cancer center.
The MRIdian system is a unique medical instrument that integrates an MRI with cobalt radiation delivery to treat cancer. Using the MRIdian system, clinicians can see soft tissue, and visualize and adjust the dose in real-time.
“We believe MRIdian offers a new approach to cancer treatment through its ability to visualize the tumor and nearby anatomy in real-time and adapt the treatment based on that information,” said Shojiro Katoh, M.D., president of Edogawa Hospital. “We’re excited to offer this important treatment option to patients throughout Japan.”
“The ability to spare healthy tissue and focus dose more accurately through MRI-guidance is a significant advancement,” said Yukihiro Hama, M.D., Ph.D., chairman of the department of Radiology at Edogawa Hospital. “We believe MRIdian is a vital addition to our radiation oncology offerings.”
In mid-August, ViewRay announced that the company had received Shonin approval from the Japanese Ministry of Health, Labor and Welfare to market the MRIdian system within Japan, and in September the company announced the first sale in Japan to the National Cancer Center (NCC). Installation of the MRIdian system at NCC is currently underway and patient treatments are expected to begin in the first half of 2017.
“The upcoming MRIdian installations at NCC and Edogawa Hospital demonstrate the system’s value to a broad range of institutions,” said Chris A. Raanes, president and chief executive officer of ViewRay. “We’re pleased but not surprised to see the Japanese radiation oncology community responding so well to the MRIdian system.”
ViewRay is represented in Japan by ITOCHU Corporation, one of the two 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.
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 expected time the NCC will begin treating patients with the MRIdian system, demand for MRI-guided radiation therapy in Japan, the benefits of the MRIdian system for physicians and patients in Japan and elsewhere, the expected reception of the MRIdian system in Japan and the receipt by the Edogawa Hospital of its 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, 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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