0R44 C-rad Ab

STOCKHOLM, June 30, 2020 /PRNewswire/ -- C-RAD has signed a Letter of Intent with the Belgium company Ion Beam Applications SA (IBA), regarding the supply of C-RAD's surface tracking solution. The project has a total net value of approximately 12 MSEK and includes multiple Catalyst™ systems and a Sentinel™ 4DCT system including a multiyear service agreement.

Shenzhen Tumor Hospital is a member of the Chinese Academy of Medical Sciences (CAMS). CAMS is a leading health network for cancer prevention and treatment in China, which is active in cancer research, comprehensive education and research-based prevention. C-RAD has already a Catalyst installation with a photon treatment system at the CAMS site in Beijing.

"It's a great honor to work with IBA to serve our valued customer Shenzhen Proton Center, CAMS," says Kurt Xiaodong Wang, President C-RAD in China "As the leader for SIGRT solutions in China, C-RAD provides cutting-edge solutions for motion management in proton therapy and supports the customer to implement an efficient workflow with a dedicated team."

The order will be recognized as order intake once the supplier qualification process is completed and the purchase agreement between C-RAD and IBA is signed. This is expected to happen within the next six months. The exact schedule for delivery and installation of the C-RAD system is expected to be set during 2021.

"I am delighted to announce, that CAMS has decided for C-RAD's cutting edge SIGRT solution for the new proton project." says Tim Thurn, CEO and President at C-RAD AB "This will be the first project for C-RAD in China to be installed on an IBA proton system. Proton therapy is the spearhead of high precision radiation therapy, due to the unique treatment beam characteristics. Accurate patient positioning and motion management become a crucial part to achieve treatment success."

About C-RAD

C-RAD develops innovative solutions for use in advanced radiation therapy. The C-RAD group offers products and solutions for patient positioning, tumor localization and radiation treatment systems. All product development is conducted in three fully owned subsidiaries: C-RAD Positioning AB, C-RAD Imaging AB and C-RAD Innovation AB, all of which are located in Uppsala, Sweden. C-RAD has established three companies for direct sales: C-RAD Inc. in the US, C-RAD GmbH in Germany and C-RAD (Shanghai) Medical Devices Co Ltd. In China. Cyrpa International SPRL, a Franco-Belgian laser company, is a wholly owned subsidiary whose operations are integrated. C-RAD AB is listed on NASDAQ Stockholm.  

For more information on C-RAD, please visit http://www.c-rad.com.

For further information:

Tim Thurn, CEO C-RAD AB, Phone +46-18-666930, Email investors@c-rad.com

This information is information that C-RAD AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication at 09:25 CET on June 30, 2020.

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SOURCE C-RAD