By Business Wirevia The Motley Fool
Filed under: Investing
iCAD Expands Global Distribution of the Xoft Electronic Brachytherapy System with Agreements in Asia and Russia
First Breast Cancer Patient Treated in Taiwan with Xoft’s Intraoperative Radiation Therapy
NASHUA, N.H.–(BUSINESS WIRE)– iCAD, Inc. (NAS: ICAD) , a leading provider of advanced imaging and radiation therapy technologies for the detection and treatment of cancer, today announced that the company has entered into strategic distribution agreements for its Xoft® Axxent® Electronic Brachytherapy System®with Chindex Medical Limited, in China, and with Medvio in Russia. The company also announced that the first breast cancer patient was treated with Intraoperative Radiation Therapy (IORT) using the Xoft System in Taiwan.
“We are delighted to expand our global reach through these agreements with Chindex and Medvio as they represent a significant growth opportunity for Xoft,” stated Ken Ferry, President and CEO of iCAD. “As we continue to expand our reach into key international markets like Europe and Asia, we are seeing growing interest in IORT among surgeons and radiation oncologists who want to offer patients advanced radiation therapy treatment options. We expect increased international demand will strengthen our global commercial strategy.”
“We are pleased to welcome iCAD’s Xoft System into the Chindex family of premium healthcare offerings,” said Elyse Beth Silverberg, Chief Operating Officer of Chindex Medical Limited. “Breast cancer is predicted to be the most common cancer in Chinese women over the next 20 years. The availability of the Xoft System in China, including Hong Kong and Macau, will provide our customers access to the most advanced cancer treatments, including Intraoperative Radiation Therapy for early stage breast cancer.”
The Xoft System is a mobile and flexible therapy option that can dramatically reduce treatment times. When used for IORT, the Xoft System delivers a single, prescribed, targeted dose of isotope-free radiation directly to the tumor cavity during surgery, thereby minimizing radiation to healthy tissue and organs and eliminating the need for a shielded treatment environment.
“The Xoft System is transforming the way radiation oncologists are treating cancer, significantly reducing treatment time which can lead to improved compliance. In Russia there is a significant patient population that has difficulty accessing care. With the Xoft System, physicians will be able to use advanced technology to treat many more patients with breast, endometrial and cervical cancer,” saidLori Woods, Principal,Medvio. “We’re excited to bring this breakthrough technology to physicians and patients in this rapidly growing market.”
Source: FULL ARTICLE at DailyFinance