With an eye on expanding the use of its oncology devices, Accuray ($ARAY) has signed a research and collaboration deal with the German Cancer Research Center.
The company didn't disclose the financial details, but the multi-year deal follows a collaboration between the two on the CyberKnife system, Accuray's robotic radiosurgery device for tumor removal, and the Iris Variable Aperture Collimator, a beam-shaping device for the CyberKnife. Accuray also has a similar deal with the University of Heidelberg, signed in March.
The center is the largest biomedical research institution in Germany, and it was a natural partner for the company, Accuray's CEO Euan Thomson said. "These agreements with [the German Cancer Research Center] and University of Heidelberg, focused on both the CyberKnife and TomoTherapy technologies, enable us to continue the important collaborative research in radiation oncology that has been underway for nearly a decade," he said in a statement.
The two deals are planned to help Accuray expand the use of its radiation oncology treatments, including TomoTherapy, which Accuray bought from its eponymous creator for $227 million last year. As The Motley Fool notes, that acquisition spurred sales growth, but Accuray has yet to establish consistent profitability since. However, with the aid of these research deals, the company hopes to change that.
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