BERGISCH GLADBACH, Germany, March 31, 2014 /PRNewswire/ -- Varian Medical Systems (NYSE: VAR) and the Paul Scherrer Institute (PSI) are announcing an extension of their existing collaboration in the field of proton therapy to offer patients more precise cancer treatments using intensity modulated proton therapy (IMPT). Under the agreement, Varian will also supply technology and equipment to help meet a growing demand for clinical research and treatments at PSI.
Proton therapy targets tumors with concentrated doses of radiation while offering superior protection of surrounding healthy tissue. IMPT, which was pioneered using pencil-beam scanning at the Paul Scherrer Institute and made commercially available by Varian Medical Systems, is a radiation delivery technique that enables clinicians to optimize precision when treating tumors.
"This multi-year R&D collaboration will enable Varian and PSI to continue their productive research activities in the areas of advanced pencil beam scanning delivery systems, on-board imaging, clinical workflow optimization, and accelerator technology to further develop proton treatment technology over the coming years," says Moataz Karmalawy, head of Varian's Particle Therapy group. "Our original collaboration led to the commercialization of IMPT and we are delighted to expand our partnership to develop more revolutionary technologies."
"Over the past ten years we have developed scanning techniques for the treatment of tumors with intensity-modulated proton therapy," adds Prof. Dr. Joel Mesot, director of the Paul Scherrer Institute. "We are looking forward to the new collaboration as it will help us to develop more tools for treating more patients with even greater precision while making our technology more widely available to the clinical and scientific community."
The value of the equipment portion of the contract is approximately $10 million and it will be booked in the second quarter of fiscal 2014.
Varian's scanning beam IMPT technology is already being used at the Scripps Proton Therapy Center in San Diego, U.S., and the Rinecker Proton Therapy Center in Munich, Germany. Varian also has contracts to install ProBeam systems at six additional sites in the U.S., Saudi Arabia, and Russia.
*CE mark and international registrations pending for ProBeam. Not available for sale in all markets.
About Varian Medical Systems
Varian Medical Systems, Inc., of Palo Alto, California, is the world's leading manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, and brachytherapy. The company supplies informatics software for managing comprehensive cancer clinics, radiotherapy centers and medical oncology practices. Varian is a premier supplier of tubes, digital detectors, and image processing workstations for X-ray imaging in medical, scientific, and industrial applications and also supplies high-energy X-ray devices for cargo screening and non-destructive testing applications. Varian Medical Systems employs approximately 6,400 people who are located at manufacturing sites in North America, Europe, and China and approximately 70 sales and support offices around the world. For more information, visit http://www.varian.com or follow us on Twitter.
About Paul Scherrer Institute
PSI operates the first compact scanning gantry worldwide for proton radiation therapy of deep-seated tumors. The spot-scanning technique developed at PSI enables malignant tumors to be targeted with high precision deep inside in the body without damaging healthy tissue around the target area. By end of 2011, the PSI compact Gantry 1 had been used to treat nearly 1000 patients suffering from brain, skull-base or spinal cord tumors as well as abdominal sarcomas. Among the patients were more than 350 children and young people under the age of 20. PSI has treated children since 1999.
Except for historical information, this news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements concerning industry outlook, including growth drivers; the company's future orders, revenues or other financial performance; the ability of the company's technology and products to treat cancer; and any statements using the terms "will," "plan," "expect," "estimated," or similar statements are forward-looking statements that involve risks and uncertainties that could cause the company's actual results to differ materially from those anticipated. Such risks and uncertainties include the effect of global economic conditions; demand for the company's products; the company's ability to develop, commercialize, and deploy new products; the company's ability to meet legal and regulatory requirements; changes in the legal or regulatory environment; and the other risks listed from time to time in the company's filings with the Securities and Exchange Commission, which by this reference are incorporated herein. The company assumes no obligation to update or revise the forward-looking statements in this release because of new information, future events, or otherwise.
FOR INFORMATION CONTACT:
Neil Madle, +44 7786 526068
SOURCE Varian Medical Systems