Accuray and RaySearch Announce Long-Term Collaboration Agreement Regarding the RayCare® Oncology Information System

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Jul 13, 2015, 07:00 ET

SUNNYVALE, Calif. and STOCKHOLM, July 13, 2015 /PRNewswire/ -- Accuray Incorporated (Nasdaq: ARAY) and RaySearch Laboratories AB (publ) (NASDAQ OMX Stockholm: RAY B) announced today they have signed a long-term collaboration agreement which will allow Accuray to co-market and offer the RayCare^® oncology information system (OIS) which is currently in development at RaySearch. Under the contract, Accuray will have the opportunity to offer RayCare^® in several designated major radiation therapy markets, making available a fully-integrated solution with the TomoTherapy^® and CyberKnife^® System product portfolios. RaySearch, known for its innovative, advanced and user-friendly treatment planning software, RayStation^®, and Accuray, recognized for its innovative tumor treatments, are partnering to provide the radiation oncology community with a creative approach for delivering and managing precise radiation therapy.

RayCare^®is a next generation OIS developed from the ground up by RaySearch to support the complex logistical challenges in modern large-scale radiation therapy centers. RayCare^® integrates the high performance radiation therapy algorithms available in RayStation^®and adds advanced features for clinical resource optimization, workflow automation and adaptive radiation therapy. The system is expected to be released in 2017.

"In today's complex healthcare environment it is becoming increasingly important to deliver clinical excellence and successful outcomes for cancer patients through radiation treatment options, which are both effective and efficient," said Joshua H. Levine, president and chief executive officer of Accuray. "Our goal in partnering with RaySearch is to provide solutions that will enhance the integration of the TomoTherapy and CyberKnife technologies with our customers' oncology department workflow, enabling them to more easily manage the large volumes of clinical data and to streamline their patients' radiation treatments."

"The RaySearch and Accuray collaboration agreement brings together two companies dedicated to providing clinicians with innovative solutions which result in more effective radiation therapy for cancer patients," said Johan Lof, president and chief executive officer of RaySearch Laboratories AB (publ). "We believe RayCare^® has the potential to set a new standard for oncology information systems and will enable cancer centers to optimize their workflow and use of resources to maximize the level of care they provide to their patients."

About the CyberKnife and TomoTherapy Systems
The Accuray CyberKnife M6™ Series and TomoTherapy H™ Series treatment solutions cover the entire spectrum of radiation therapy needs. The CyberKnife M6 Series enables precise, high-quality, high-dose distributions to be confidently delivered to the patient with extreme accuracy over a minimum number of treatments, reducing side effects and preserving patients' quality of life. The CyberKnife System is the only robotic full-body radiosurgery system available today. The TomoTherapy H Series efficiently enables physicians to customize treatment plans for the entire range of radiation therapy patients and disease types. Its innovative design enables treatment plans to be delivered with integrated, daily CT image guidance, enhancing accuracy and delivering highly precise, intensity-modulated radiation for optimal sparing of healthy tissue and critical structures.

Further information on Accuray, the CyberKnife and TomoTherapy Systems is available at www.accuray.com.

About Accuray
Accuray Incorporated (Nasdaq: ARAY) is a radiation oncology company that develops, manufactures and sells precise, innovative tumor treatment solutions that set the standard of care with the aim of helping patients live longer, better lives. The company's leading-edge technologies deliver the full range of radiation therapy and radiosurgery treatments.

Safe Harbor Statement
Statements made in this press release that are not statements of historical fact are forward-looking statements and are subject to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release relate, but are not limited, to future growth, market success, adoption of our new products, clinical benefits of our technologies, patient outcomes and Accuray's leadership position in radiation oncology innovation and technologies. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations, including but not limited to the risks detailed under the heading "Risk Factors" in the company's report on Form 10-K, filed on August 29, 2014, the company's reports on Form 10-Q, filed on November 7, 2014, February 6, 2015 and May 7, 2015, and the company's other filings with the SEC.

Forward-looking statements speak only as of the date the statements are made and are based on information available to Accuray at the time those statements are made and/or management's good faith belief as of that time with respect to future events. The company assumes no obligation to update forward-looking statements to reflect actual performance or results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. Accordingly, investors should not put undue reliance on any forward-looking statements.

About RaySearch
RaySearch Laboratories AB (publ) is a medical technology company that develops advanced software solutions for improved radiation therapy of cancer. RaySearch markets the RayStation^® treatment planning system to clinics all over the world. In addition, RaySearch's products are distributed through licensing agreements with leading medical technology companies. RaySearch's software solutions are used by over 2,500 clinics in more than 65 countries.

RaySearch was founded in 2000 as a spin-off from Karolinska Institutet in Stockholm and the company is listed in the Small Cap segment on NASDAQ OMX Stockholm.

For more information about RaySearch, visit www.raysearchlabs.com

SOURCE Accuray Incorporated