News | Radiation Therapy | December 13, 2019

In connection with the collaboration, Elekta has committed to make an investment in ViewRay representing approximately 9.9 percent of the shares of ViewRay’s common stock

In connection with the collaboration, Elekta has committed to make an investment in ViewRay representing approximately 9.9 percent of the shares of ViewRay’s common stock

December 13, 2019 — Elekta announced that the company has signed a non-binding Memorandum of Understanding with ViewRay, Inc. to advance the knowledge and application of MR-guided radiation therapy. In connection with the collaboration, Elekta has committed to make an investment in ViewRay representing approximately 9.9 percent of the shares of ViewRay’s common stock, outstanding after the public offering, to be announced by ViewRay, on a fully diluted basis.

The key objective of the collaboration is to advance MR-Linac technology and its application as the radiation therapy with superior precision, medical outcomes and operational cost efficiency. The companies intend to facilitate clinical studies exploring the impact of MR-guided therapy in oncology and work jointly to expand the potential role of MR-guided therapy into other areas that could benefit from the technology. The companies are also exploring initiatives such as the formation of a cooperative group and working on healthcare policy. The collaboration is subject to the execution of definitive documentation.

“MR-guided radiation therapy is the future of precision radiation medicine,” said Richard Hausmann, Elekta’s president and CEO. “Elekta believes that competition is crucial to drive the adoption of any new technology, and that is why we are committed to continuing to develop and offer customers our high-field Elekta Unity and promoting this technology to benefit patients worldwide. By investing in ViewRay, we ensure that the two inventors of MR-guided radiation therapy continue to drive the paradigm shift forward. Two companies actively promoting the implementation of the MR-Linac technology in the market and collaborating on clinical applications, will benefit clinicians and their patients with better and wider treatment options, improved outcomes and lower costs.”

Elekta’s investment in ViewRay is subject to the terms and conditions set forth in a commitment agreement, including the condition of a capital raise in ViewRay’s public offering of at least USD 75 million of gross proceeds before underwriting discounts and other offering expenses. In addition, Elekta’s investment in ViewRay is subject to an aggregate cap of USD 36 million, at the public offering price.

For more information: www.elekta.com 


Related Content

News

Aug. 5, 2024 — Researchers from The University of Texas MD Anderson Cancer Center have demonstrated that adding ...

Time August 09, 2024
arrow
News | Radiology Business

July 31, 2024 — The American Registry of Radiologic Technologists (ARRT) announced the three Registered Technologists (R ...

Time July 31, 2024
arrow
News | PET-CT

July 31, 2024 — In a head-to-head comparison with FDG PET/CT, FDG PET/MRI demonstrated comparable or superior diagnostic ...

Time July 31, 2024
arrow
Feature | Radiation Oncology | By Christine Book

News emerging from several leading organizations and vendors in the radiation therapy arena came in at a fast pace in ...

Time July 30, 2024
arrow
News | Radiopharmaceuticals and Tracers

July 24, 2024 — Telix Pharmaceuticals Limited announced that the United States (U.S.) Food and Drug Administration (FDA) ...

Time July 24, 2024
arrow
News | Radiation Therapy

July 22, 2024 — RefleXion Medical, an external-beam theranostic oncology company, today announced that researchers from ...

Time July 22, 2024
arrow
News | ASTRO

July 18, 2024 — The members of the American Society for Radiation Oncology (ASTRO) recently elected five new officers to ...

Time July 18, 2024
arrow
News | PET-CT

July 16, 2024 — A new research paper was published in Oncotarget's Volume 15 on June 20, 2024, titled, “Comparison of ...

Time July 16, 2024
arrow
News | Digital Pathology

July 12, 2024 — AGFA HealthCare, a global leader in healthcare imaging management solutions, announced that Enterprise ...

Time July 12, 2024
arrow
News | Digital Pathology

July 12, 2024 — Diagnosing cancer and providing the personalized therapy it often requires, is a collaborative effort ...

Time July 12, 2024
arrow
Subscribe Now