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Company type | Public ( Aktiebolag ) |
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Nasdaq Stockholm: RAY B | |
Industry | Medical technology |
Founded | 2000 |
Headquarters | , Sweden |
Key people | Johan Löf, President, CEO & founder |
Revenue |
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Total assets |
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Total equity |
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Number of employees | Approx. 190 |
Website | raysearchlabs |
RaySearch Laboratories (AB publ) is a Swedish medical technology company that develops software used in radiation therapy of cancer. The company markets its products worldwide and has subsidiaries in the United States, Singapore, Belgium, France, Germany, and the United Kingdom.
RaySearch markets the RayStation treatment planning system. Its products are also distributed through licensing agreements with medical technology companies including Accuray, Mevion, Philips, Nucletron, IBA, Varian, and Brainlab. [1]
RaySearch is a public company listed on the Nasdaq Stockholm stock exchange. Effective on 4 January 2016, RaySearch series B share (RAY B) was moved from the Small Cap to the Mid Cap segment of Nasdaq Stockholm, which is the segment for companies with a market value of at least 150 million euros and up to one billion. [2]
RaySearch was established in 2000 as a spin-off from Karolinska Institutet in Stockholm. [3] Founder and CEO Johan Löf started the company based on knowledge acquired during his PhD work on radiation treatment of moving tumors at Karolinska Institutet in Stockholm, Sweden. [4] A few months after its establishment, RaySearch entered into a partnership agreement with Philips Medical Systems, which resulted in the development of the P3 IMRT module of the Pinnacle treatment planning system in 2001. [5]
In 2003, RaySearch was listed on the O-list of the Stockholm Stock Exchange, [6] which has been part of Nasdaq since 2008. [7] Between 2004 and 2007, RaySearch entered into partnership agreements with Nucletron, [8] IBA Dosimetry, [9] TomoTherapy, [10] and Varian Medical Systems. [11] RaySearch algorithms were adopted for use in several of the leading radiation therapy treatment planning systems.
RaySearch also began engaging in clinical research collaborations, notably working with Princess Margaret Hospital, [12] and Massachusetts General Hospital, [13] to pioneer adaptive therapy and multi-criteria optimization.
In 2008, RaySearch made the decision to develop and market its own treatment planning system. [14] The RayStation system was launched in 2009, and West German Proton Therapy Center Essen placed the first order in the same year. [15]
RayStation received US FDA 510(k) clearance in 2010 [16] and Massachusetts General Hospital subsequently placed the first US order for the system. [17] The first patient treatment with RayStation took place in 2011 at Massachusetts General Hospital. [18]
The first complete version of RayStation was released in 2012, [19] and RayStation was approved for sale in China in 2013. [20]
RayStation is a treatment planning system for radiation therapy of cancer. The system supports several treatment techniques, [21] including:
Radiation therapy or radiotherapy is a treatment using ionizing radiation, generally provided as part of cancer therapy to either kill or control the growth of malignant cells. It is normally delivered by a linear particle accelerator. Radiation therapy may be curative in a number of types of cancer if they are localized to one area of the body, and have not spread to other parts. It may also be used as part of adjuvant therapy, to prevent tumor recurrence after surgery to remove a primary malignant tumor. Radiation therapy is synergistic with chemotherapy, and has been used before, during, and after chemotherapy in susceptible cancers. The subspecialty of oncology concerned with radiotherapy is called radiation oncology. A physician who practices in this subspecialty is a radiation oncologist.
The Karolinska Institute is a research-led medical university in Solna within the Stockholm urban area of Sweden and one of the foremost medical research institutes globally. The Nobel Assembly at the Karolinska Institute awards the Nobel Prize in Physiology or Medicine. The assembly consists of fifty professors from various medical disciplines at the university. The current vice-chancellor of Karolinska Institute is Annika Östman Wernerson, who took office in March 2023.
External beam radiation therapy (EBRT) is a form of radiotherapy that utilizes a high-energy collimated beam of ionizing radiation, from a source outside the body, to target and kill cancer cells. A radiotherapy beam is composed of particles which travel in a consistent direction; each radiotherapy beam consists of one type of particle intended for use in treatment, though most beams contain some contamination by other particle types.
In medicine, proton therapy, or proton radiotherapy, is a type of particle therapy that uses a beam of protons to irradiate diseased tissue, most often to treat cancer. The chief advantage of proton therapy over other types of external beam radiotherapy is that the dose of protons is deposited over a narrow range of depth; hence in minimal entry, exit, or scattered radiation dose to healthy nearby tissues.
Radiosurgery is surgery using radiation, that is, the destruction of precisely selected areas of tissue using ionizing radiation rather than excision with a blade. Like other forms of radiation therapy, it is usually used to treat cancer. Radiosurgery was originally defined by the Swedish neurosurgeon Lars Leksell as "a single high dose fraction of radiation, stereotactically directed to an intracranial region of interest".
Varian Medical Systems is an American radiation oncology treatments and software maker based in Palo Alto, California. Their medical devices include linear accelerators (LINACs) and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy, and brachytherapy. The company supplies software for managing cancer clinics, radiotherapy centers, and medical oncology practices. Varian Medical Systems employs more than 7,100 people at manufacturing sites in North America, Europe, and China and approximately 70 sites globally.
Siemens Healthineers is a German company which provides healthcare solutions and services. It was spun off from its parent company Siemens in 2017, which retains a 75% stake. Siemens Healthineers is the parent company for several medical technology companies and is headquartered in Erlangen, Germany.
Elekta is a global Swedish company that develops and produces radiation therapy and radiosurgery-related equipment and clinical management for the treatment of cancer and brain disorders. Elekta has a global presence in more than 120 countries, with over 40 offices around the world and about 4,700 employees.
In radiotherapy, radiation treatment planning (RTP) is the process in which a team consisting of radiation oncologists, radiation therapist, medical physicists and medical dosimetrists plan the appropriate external beam radiotherapy or internal brachytherapy treatment technique for a patient with cancer.
Varian Associates was one of the first high-tech companies in Silicon Valley. It was founded in 1948 by Russell H. and Sigurd F. Varian, William Webster Hansen, and Edward Ginzton to sell the klystron, the first vacuum tube which could amplify electromagnetic waves at microwave frequencies, and other electromagnetic equipment. Varian Associates split into three companies in 1999: Varian Medical Systems, Varian, Inc. and Varian Semiconductor.
Tomotherapy is a type of radiation therapy treatment machine. In tomotherapy a thin radiation beam is modulated as it rotates around the patient, while they are moved through the bore of the machine. The name comes from the use of a strip-shaped beam, so that only one “slice” of the target is exposed at any one time by the radiation. The external appearance of the system and movement of the radiation source and patient can be considered analogous to a CT scanner, which uses lower doses of radiation for imaging. Like a conventional machine used for X-ray external beam radiotherapy, a linear accelerator generates the radiation beam, but the external appearance of the machine, the patient positioning, and treatment delivery is different. Conventional linacs do not work on a slice-by-slice basis but typically have a large area beam which can also be resized and modulated.
Image-guided radiation therapy is the process of frequent imaging, during a course of radiation treatment, used to direct the treatment, position the patient, and compare to the pre-therapy imaging from the treatment plan. Immediately prior to, or during, a treatment fraction, the patient is localized in the treatment room in the same position as planned from the reference imaging dataset. An example of IGRT would include comparison of a cone beam computed tomography (CBCT) dataset, acquired on the treatment machine, with the computed tomography (CT) dataset from planning. IGRT would also include matching planar kilovoltage (kV) radiographs or megavoltage (MV) images with digital reconstructed radiographs (DRRs) from the planning CT.
IBA is a medical technology company based in Louvain-la-Neuve. The company was founded in 1986 by Yves Jongen within the Cyclotron Research Center of the University of Louvain (UCLouvain) and became a university spin-off. It employs about 1500 people in 40 locations. The company developed cyclotrons and integrated proton therapy centers is active in the field of proton therapy, dosimetry, radiopharmacy solutions and industrial sterilisation.
Pencil beam scanning is the practice of steering a beam of radiation or charged particles across an object. It is often used in proton therapy, to reduce unnecessary radiation exposure to surrounding non-cancerous cells.
Pluri Inc., formerly Pluristem Therapeutics, is an Israeli company engaged in the development of human placental adherent stromal cells for commercial use in disease treatment. According to the company's website, it extracts adult stem cells exclusively from postnatal placentas.
Professor Minesh P. Mehta, MD, FASTRO, is an American radiation oncologist and physician-scientist of Indian origin, Ugandan birth, Zambian Schooling and American Training, who contributed to the field of oncology for more than two and half decades.
Immune Therapy Holdings AB or ITH is a Swedish biotechnology R&D holding company headquartered at the Karolinska Institutet and Karolinska University Hospital in Stockholm.
Carl Gustaf "Gösta" Abrahamsson Forssell was a Swedish medical researcher and professor in radiology and radiotherapy. He headed the radium clinic at Serafimerlasarettet in Stockholm and then its successor Radiumhemmet. His publications defined what became known as the "Stockholm method" of cancer therapy.
Radiumhemmet is a non-surgical cancer treatment and radiotherapy research institution in Solna, Sweden. Since 1938, it has been a division of what is now the Karolinska University Hospital. It was founded in 1910 in central Stockholm as the first oncological clinic in Sweden, succeeding a radium research and treatment institution at the Serafimerlasarett founded in 1906, and played a major role in the development of radiotherapy, especially in gynaecological cancers.
Accuray is a radiation therapy company that develops, manufactures, and sells radiation therapy systems to deliver treatments including stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT). It is the developer of innovative technologies, the CyberKnife and TomoTherapy platforms, including the Radixact System, the latest generation TomoTherapy platform. The company is headquartered in Sunnyvale, CA, the United States. The platforms are installed in leading healthcare centres in approximately 50 countries globally.