University Hospitals in Cleveland Enters into Master Purchase Agreement with ViewRay for Multiple MRIdian® Systems
ViewRay, Inc. (NASDAQ: VRAY) has secured a master purchase agreement with the University Hospitals Seidman Cancer Center in Cleveland for the MRIdian MRI-Guided Radiation Therapy System. This includes an immediate order of one system with the option for three additional systems. The center will be the first in Ohio to offer this advanced therapy, enhancing treatment for various cancers, including pancreatic and prostate cancer. This partnership aims to improve patient outcomes through innovative clinical trials and advanced radiotherapeutic techniques.
- University Hospitals Seidman Cancer Center is the first in Ohio to implement MRIdian's advanced therapy, potentially increasing patient base and revenue.
- The agreement includes an option to purchase three additional systems, indicating future growth potential.
- The MRIdian system allows for precise, personalized cancer treatment, improving patient outcomes and minimizing side effects.
- None.
Immediate order of one system with ability to purchase an additional three systems
DENVER, Jan. 5, 2023 /PRNewswire/ -- ViewRay, Inc. (NASDAQ: VRAY) today announced that the University Hospitals (UH) Seidman Cancer Center in Cleveland has selected a MRIdian MR-Guided Radiation Therapy System as part of a master agreement for the purchase of up to four systems, and will be the first in Ohio at a research and teaching hospital to offer the precision of MRIdian's advanced MRI-guided radiation therapy to cancer patients throughout the region for pancreas, prostate, kidney, gynecological, lung, liver, breast, brain, spine, and oligometastatic cancers.
UH Seidman Cancer Center is part of the NCI-designated Case Comprehensive Cancer Center at Case Western Reserve University School of Medicine. Through this program, the National Cancer Institute (NCI) recognizes centers around the country that meet rigorous standards for transdisciplinary, state-of-the-art research focused on developing new and better approaches to preventing, diagnosing, and treating cancer.
"UH Seidman Cancer Center is at the forefront of clinical excellence and transformative innovation. There was unanimous multi-disciplinary support to bring ViewRay's MRIdian MRI-guided radiotherapy to our center and provide our patients with the latest radiotherapeutic advancements. We aim to continue the advancement of MR-guided adaptive radiotherapy through cutting-edge clinical trials and research to improve patient outcomes. Our incredible team is excited to collaborate with ViewRay to test the non-invasive form of MR-guided radiosurgery versus traditional surgical methods or other invasive ablative modalities (i.e., HIFU, cryotherapy, radiofrequency ablation) for the treatment of cancer. The addition of the MRIdian system to our center will further elevate our radiation oncology and medical physics residency programs by having one of the greatest breadths of treatment modalities to offer at any center in the world, all under one roof," said Dan Spratt, M.D., Chair of the Department of Radiation Oncology at University Hospitals Cleveland Medical Center, and Vincent K. Smith Chair in Radiation Oncology. "With MRIdian, we can offer cutting-edge, precise, and personalized treatment using soft-tissue tracking, automatic beam gating, on-table adaptive delivery, and build advanced tools to improve patient outcomes and minimize treatment-related side effects," said Rojano Kashani, PhD, the Chief of Physics at UH Seidman Cancer Center.
With some of the most advanced technology available, dedicated and skilled clinicians, and participation in hundreds of clinical trials, UH Seidman Cancer Center is a leading resource in the nation in the fight against cancer, and consistently ranks among the top cancer hospitals in the country out of more than 4,750 medical centers, according to U.S. News & World Report.
"Because MRIdian enables delivery of ablative radiation doses with tighter margins, we will be able to treat complex cancer cases, including inoperable tumors and patients who aren't good candidates for surgery," said Jordan Winter, M.D., Chief of the Division of Surgical Oncology at University Hospitals Cleveland Medical Center, Director of Surgical Services at UH Seidman Cancer Center and John and Peggy Garson Family Endowed Chair in Pancreatic Cancer Research and Jerome A. and Joy Weinberger Family Master Clinician in Surgical Oncology "MRIdian expands the treatment options available to our patients, particularly those with tough-to-treat cancers whose options may have previously been limited, such as pancreatic ultra-central lung cancer tumors."
Lee Ponsky, M.D., Chair, Department of Urology, University Hospitals Cleveland Medical Center, Leo & Charlotte Goldberg Chair in Advanced Surgical Therapies and Master Clinician in Urologic Oncology shares in the excitement stating, "Our genitourinary program was already a premier center for the management of prostate, kidney, and bladder cancer. As a Urologic Oncologist who has helped pioneer the use of radiosurgery for prostate cancer and kidney cancers, I am thrilled that our patients will have access to MR-guided adaptive radiotherapy to further take these treatments to the next level, and we hope to expand the role of radiotherapy using this technology."
The MRIdian system provides oncologists outstanding anatomical visualization through diagnostic-quality MR images and the ability to adapt a radiation therapy plan to the targeted cancer with the patient on the table. This combination allows physicians to define tight treatment margins to avoid unnecessary radiation exposure of vulnerable organs-at-risk and healthy tissue and allows the delivery of ablative radiation doses in five or fewer treatment sessions, without relying on implanted markers. By providing real-time continuous tracking of the target and organs-at-risk, MRIdian enables automatic gating of the radiation beam if the target moves outside the user-defined margins. This allows for delivery of the prescribed dose to the target, while sparing surrounding healthy tissue and critical structures, which results in minimizing toxicities typically associated with conventional radiation therapy.
Over 27,000 patients have been treated with MRIdian. Currently, 56 MRIdian systems are installed at hospitals around the world where they are used to treat a wide variety of solid tumors and are the focus of numerous ongoing research efforts. MRIdian has been the subject of hundreds of peer-reviewed publications, scientific meeting abstracts, and presentations. For a list of treatment centers, please visit: https://viewray.com/find-mridian-mri-guided-radiation-therapy/
Nothing in this material is intended to provide specific medical advice or to take the place of written law or regulations.
The MRIdian Linac System is not appropriate for all patients, including those who are not candidates for magnetic resonance imaging. Radiation treatments may cause side effects that can vary depending on the part of the body being treated. The most frequent ones are typically temporary and may include, but are not limited to, irritation to the respiratory, digestive, urinary, or reproductive systems; fatigue; nausea; skin irritation; and hair loss. In some patients, side effects can be severe. Treatment sessions may vary in complexity and duration. Radiation treatment is not appropriate for all cancers. You should discuss the potential for side effects and their severity as well as the benefits of radiation and magnetic resonance imaging with your doctor to make sure radiation treatment is right for you.
About ViewRay
ViewRay, Inc. (Nasdaq: VRAY), designs, manufactures, and markets the MRIdian® MRI-Guided Radiation Therapy System. MRIdian is built upon a proprietary high-definition MR imaging system designed from the ground up to address the unique challenges and clinical workflow for advanced radiation oncology. Unlike MR systems used in diagnostic radiology, MRIdian's high-definition MR was purpose-built to address specific challenges, including beam distortion, skin toxicity, and other concerns that potentially may arise when high magnetic fields interact with radiation beams. ViewRay and MRIdian are registered trademarks of ViewRay, Inc.
This press release contains forward-looking statements within the meaning of Section 27A of the Private Securities Litigation Reform Act. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, ViewRay's financial guidance for the full year 2022, anticipated future orders, anticipated future operating and financial performance, treatment results, therapy adoption, innovation, and the performance of the MRIdian systems. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to commercialize the MRIdian Linac System, demand for ViewRay's products, the ability to convert backlog into revenue, the timing of delivery of ViewRay's products, the timing, length, and severity of the COVID-19 pandemic, including its impacts across our businesses on demand, our operations and global supply chains, the results and other uncertainties associated with clinical trials, 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. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to ViewRay's business in general, see ViewRay's current and future reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and its Quarterly Reports on Form 10-Q, as updated periodically with the Company's other filings with the SEC. 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.
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FAQ
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