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    INVITATION TO ANNUAL GENERAL MEETING 2017

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    The shareholders in RaySearch Laboratories AB (publ), corporate identity no. 556322-6157, are hereby invited to the Annual General Meeting, to be held on Tuesday, 23 May, 2017, at 6:00 p.m., at the company’s offices at Sveavägen 44, 7th floor, Stockholm, Sweden.

    RIGHT TO PARTICIPATE AND NOTICE 

    Shareholders who wish to participate in the Annual General Meeting and to have the right to vote, must:

    - be recorded in the share register maintained by Euroclear Sweden AB not later than Wednesday, 17 May, 2017,

    - notify the company of their intention to participate in the Annual General Meeting by mail to RaySearch Laboratories AB (publ), P.O. Box 3297, 103 65 Stockholm, Sweden; by telephone +46 (0)8 510 530 00; by fax +46 (0)8 510 530 30; or by email to arsstamma2017@raysearchlabs.com, not later than Wednesday, 17 May, 2017, at 4:00 p.m. Assistants may accompany shareholders to the Meeting only if the shareholder has provided notice of the number of assistants, a maximum of two, in the manner described above for notification of participation. Notification should include the shareholder’s name, personal or corporate identity number, shareholding, address and telephone number.

    - at the Meeting be able to produce an ID-card valid in Sweden (e.g. passport, driver’s licence, national ID-card). Also, proxies and/or assistants must be able to produce an ID-card valid in Sweden (e.g. passport, driver’s license, national ID-card)as the case may be.

    Shareholders who have trustee-registered shares through a bank or broker, must request to temporarily register the shares in their own name with Euroclear Sweden AB to be entitled to exercise their voting rights at the Meeting. Such shareholders must inform the trustee of this request in adequate time prior to Wednesday, 17 May, 2017, when such registration must have been completed.

    POWER OF ATTORNEY ETC.

    If a shareholder intends to be represented by proxy, the shareholder must issue a written power of attorney, duly dated and signed. For practical reasons, the power of attorney should be submitted to the company in advance. Please note, however, that the original of any power of attorney must be presented at the Meeting and that it is therefore not sufficient to send it by fax or email. A power of attorney template is available on the company’s website, www.raysearchlabs.com, and will be sent at no cost to shareholders who request it and provide their postal address or email address. A power of attorney is valid no longer than one year from its issuance, unless a longer period of validity is expressly stated; however, in no event longer than five years. Representatives of legal entities must present a copy of a registration certificate or corresponding authorization document that indicates the authorized signatory.

    PROPOSED AGENDA 

    1. Opening of the Meeting.

    2. Election of a chairman of the Meeting.

    3. Preparation and approval of the list of shareholders entitled to vote at the Meeting.

    4. Election of one or two minute-checkers.

    5. Approval of the proposed agenda.

    6. Determination whether the Meeting has been duly convened.

    7. Address by the CEO.

    8. Presentation of the Annual Report and the Auditors’ Report as well as the consolidated financial statements and the Auditors’ Report for the consolidated financial statements for the 2016 fiscal year.

    9. Resolutions concerning
      a)          the adoption of the income statement and balance sheet and the consolidated income statement and consolidated balance sheet;
      b)          the disposition to be made of the company’s profits or losses as shown in the balance sheet adopted by the Meeting;
                   and
      c)          the discharge of the members of the Board and of the CEO from personal liability.

    10. Resolution on guidelines for remuneration to senior executives.

    11. Determination of the number of members of the Board and deputies.

    12. Determination of the fees to be paid to the Board and auditors.

    13. Election of the members of the Board (including Chairman) and deputy member(s) of the Board.

    14. Election of auditor.

    15. Resolution on the authorization to the Board to resolve on new issues of Series B shares and/or issues of convertible debt instruments.

    16. Close of the Annual General Meeting.

    PROPOSED DECISIONS 

    Election of a chairman of the Meeting (item 2)

    The Board proposes that Carl Filip Bergendal be appointed chairman of the Meeting.

    Disposition of earnings (item 9 b)

    As the company is currently in a phase of rapid expansion that requires access to capital, the Board and the CEO propose that no dividend be paid to the company's shareholders. The accumulated profit of SEK 177,390,000 is proposed to be brought forward and balanced in the new accounts.

    Guidelines for remuneration to senior executives (item 10)

    The Board proposes the Meeting to adopt the following guidelines for remuneration to senior executives to apply for the period until the close of the Annual General Meeting of 2018.

    Salary and other remuneration

    The CEO shall receive a fixed salary and a variable remuneration. The variable remuneration shall amount to 2.0 per cent of the Group’s earnings before tax after allocations to the profit-sharing foundation RayFoundation, though not more than 12 months’ salary. In addition, the CEO may have other benefits of a common nature, such as a company car.

    The CEO’s salary shall be reviewed annually. This shall take place through negotiations between the CEO and the Chairman of the Board, after which the Chairman shall present a proposal to the other Board members. The CEO shall not be present when the Board discusses and resolves on this issue.

    The other senior executives are the Deputy CEO, Chief Financial Officer (CFO), Director of Research, Director of Development, Director of Sales and Marketing, Director of Sales for the Asia & Pacific region, Director of Service and the General Counsel. The other senior executives shall, as all other employees in RaySearch Laboratories AB (publ) except the CEO, be covered by the profit-sharing foundation RayFoundation, and thereby receive a variable remuneration. Furthermore, the following shall apply with regard to remuneration to the other senior executives.

    The Director of Sales and Marketing shall receive a fixed salary and a variable remuneration. The variable remuneration shall amount to a certain percentage of the sales of RayStation® worldwide.

    The Director of Sales for the Asia & Pacific region shall receive a fixed salary and a variable remuneration. The variable remuneration shall amount to a certain percentage of the sales of RayStation® in the Asia & Pacific region.

    The Deputy CEO, CFO, Director of Research, Director of Development, Director of Service, and the General Counsel, shall receive a fixed salary but no variable remuneration, other than being covered by the profit-sharing foundation RayFoundation in accordance with the above.

    The salaries of the other senior executives shall also be reviewed annually. This shall take place in negotiations between the CEO and each individual.

    Incentive programs

    There are no incentive programs intended specifically for senior executives and none is proposed. However, the senior executives, except the CEO, may participate together with the other employees in such option programs and profit-sharing programs as the company may apply.

    Pensions

    All pension undertakings are defined-contribution plans. The retirement age for the CEO and the other senior executives is 65 years and the pension premiums correspond to the Swedish ITP plan.

    Period of notice

    If the CEO terminates his employment, his period of notice is 6 months, and if the company terminates the CEO’s employment, the period of notice is 12 months. In both cases, the CEO is entitled to salary during the period of notice. In respect of the other senior executives there is a mutual period of notice of 3 months during which salary shall be paid.

    Severance pay

    Neither the CEO nor the other senior executives shall be entitled to any severance pay, in a formal sense, should their employment cease. However, as described above, the CEO and the other senior executives shall be entitled to salary during the period of notice.

    Deviation

    The Board proposes that the Board be entitled to deviate from the above guidelines if there are special reasons for such deviations.

    Number of members of the Board and deputies (item 11)

    Shareholders representing approximately 66 percent of the total number of votes in the company propose that the number of Board members be 4, with no deputies.

    Fees (item 12)

    Shareholders representing approximately 66 percent of the total number of votes in the company propose:

    that remuneration to Board members who do not receive a salary from any Group company, amount to a total of SEK 980,000 for the period extending to the next Annual General Meeting, of which SEK 480,000 to be paid to the Chairman and SEK 250,000 to each of the Board members elected by the Annual General Meeting, who do not receive a salary from any Group company.

    that the auditors’ fees shall be paid in accordance with current approved invoicing. 

    Board, etc. (item 13)

    Shareholders representing approximately 66 percent of the total number of votes in the company propose:

    that  Carl Filip Bergendal, Johan Löf and Hans Wigzell be re-elected as Board members in the company;

    that Johanna Öberg be elected as Board member in the company; and 

    that Carl Filip Bergendal be elected as Chairman of the Board. 

    Election of auditor (item 14)

    The Board proposes that the auditing firm Ernst & Young be appointed as auditors, with the authorized public accountant Per Hedström as auditor in charge.

    Resolution on the authorization to the Board to resolve on new issues of Series B shares and/or issues of convertible debt instruments (item 15)

    The Board proposes that the Meeting authorize the Board to, on one or several occasions up until the next Annual General Meeting, resolve on new issues of Series B shares and/or issues of convertible debt instruments convertible into Series B shares. The Board’s resolutions on issuing shares and/or convertible debt instruments may lead to an increase in the number of shares in the company representing a maximum of 10 per cent of the registered share capital per the date of this invitation, amounting to SEK 17,141,386.50, however, not exceeding the number of shares and share capital according to the company's articles of association at the time of such resolution. At the date of this invitation, such maximum increase represents an increase of approximately 2.6 per cent of the total number of votes in the company. Issues made by virtue of this authorization may be made with or without deviation from the shareholders’ pre-emption right in accordance with Chapter 13, Section 1, item 2 c and Chapter 15, Section 1, item 2 c of the Swedish Companies Act, and, other than against payment in cash, with or without terms of issue in kind or set-off or other terms as stated in Chapter 13, Section 5, first paragraph, item 6 and Chapter 15, Section 5, first paragraph, item 4 of the Swedish Companies Act.

    The purpose of the authorization is to increase the company’s financial flexibility. In the event of deviation from the shareholders’ pre-emption right, the subscription price shall be on market terms. Other terms may be resolved by the Board.

    A valid resolution requires that the proposal be supported by shareholders representing at least two-thirds of both the votes cast and the shares represented at the Meeting.

    NUMBER OF SHARES AND VOTES AND INFORMATION ON HOLDING OF OWN SHARES
    The total number of shares in the company at the date of this invitation is 34,282,773, of which 8,654,975 are Series A shares and 25,627,798 are Series B shares, which means that there are a total of 112,177,548 votes in the company. The company holds no own shares.

    AVAILABILITY OF DOCUMENTS AND OTHER ISSUES
    The Annual Report, the Auditor’s Report in accordance with Chapter 8, Section 54 of the Swedish Companies Act and the Board’s complete proposals in accordance with the above will be held available at the company’s offices and on the company’s website no later than from and including 2 May, 2017, and will be sent to those shareholders who have provided notice that they wish to receive such information from the company.

    For the abovementioned decisions, the support of shareholders representing more than half of the votes cast is necessary, except in relation to item 15 for which a qualified majority is necessary, as specified in item 15 above. 

    THE RIGHT OF THE SHAREHOLDERS TO REQUEST INFORMATION
    The shareholders have the right at the Annual General Meeting to request that the Board and the CEO provide information about facts that can affect the assessment of an item on the agenda and facts that can affect the assessment of the economic situation of the company. Such information shall be provided if it can be done without substantial harm to the company. The obligation to inform also applies in respect of the company’s relationship to other Group companies, the consolidated financial statements and facts according to the above in respect of subsidiaries.

    *********

    Stockholm, April 2017

    Board of Directors

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    Nottingham City Hospital, UK, Selects RayStation

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    Nottingham City Hospital in the UK has chosen RayStation as the new treatment planning system for its radiation therapy department. The department treats patients using Elekta linacs and an Accuray TomoTherapy system.

    The Nottingham Radiotherapy Service is the specialist treatment center for Nottinghamshire and the East Midlands. The department has invested heavily in new technology and equipment in order to provide the best possible treatment for patients. Techniques offered include VMAT, image-guided radiation therapy (IGRT), Papillon (contact brachytherapy) and selective internal radiation therapy (SIRT). Nottingham City Hospital is a stereotactic radiosurgery referral site and receives referrals from many hospitals across the region.

    RayStation will replace separate software applications currently being used for virtual simulation, deformable registration, auto-segmentation and VMAT planning. The system will enable the hospital to implement adaptive therapy, and its fast computation speed will significantly reduce planning time.

    Keith Langmack, Head of Radiotherapy Physics at Nottingham City Hospital, says: “RayStation will consolidate the functionality of several different systems, giving us a smooth, integrated workflow. It can support both linacs and TomoTherapy systems and offers outstanding support for adaptive planning and automation. After a thorough evaluation of alternative systems, RayStation clearly had the edge.”

    Johan Löf, CEO of RaySearch, says: “Nottingham City Hospital is a leading UK center. It is highly gratifying to help them replace multiple systems, unify treatment planning and increase automation – all of which are key strengths of RayStation.”

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    RaySearch enters collaboration with premier US cancer center regarding RayCare

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    The University of Texas MD Anderson Cancer Center in Houston, Texas, will collaborate with RaySearch on the development of RayCare®*, the next-generation oncology information system designed for the clinical workflow needs of today and tomorrow. The agreement covers all of MD Anderson’s sites in the Greater Houston area, including five regional cancer centers. One goal of the collaboration is to enable clinical implementation of RayCare in a complex and large-scale environment.  

    MD Anderson is one of the world’s largest cancer centers and a global leader in clinical research. The center treats around 130,000 patients per year and has over 20,000 employees. The scale of its operations makes efficiency and safety key priorities, and these will be significant strengths of the RayCare system.

    RayCare is designed to unify and consolidate the different software systems that are commonly in operation, including systems for medical oncology, radiation oncology and surgical oncology. Integrating the varied activities in these workflows saves time, reduces complication and minimizes the risk of errors that can occur when transferring information between systems. Potential benefits for patients include a smoother treatment experience and better continuity of care.

    This is the next step in a strong strategic collaboration that combines the research and development strengths of MD Anderson and RaySearch, with the aim of converting research findings into practical solutions that can be brought to market quickly for the benefit of cancer clinics everywhere. MD Anderson has also started using RayStation® to generate clinical treatment plans. This is the first phase of a planned clinical rollout that follows extensive training of the clinical teams. RayStation and RayCare are designed to integrate seamlessly, paving the way for even greater gains.

    Johan Löf, CEO of RaySearch, says: “I am proud that MD Anderson Cancer Center has joined us in the RayCare project. Solving the coordination, safety and efficiency needs of one of the world’s largest cancer care providers is one of our most exciting challenges to date. This collaboration has a strong foundation for success, building on the vast clinical knowledge and resources of MD Anderson and the innovative development capabilities of RaySearch.”

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    RaySearch Laboratories AB (publ) Year-end Report 2016

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    “A strong fourth quarter ended a new record year. In 2016, net sales rose 34 percent to SEK 531 M (398), of which revenues from RayStation® rose 58 percent to SEK 476 M (300), and operating profit rose 109 percent to SEK 200 M (95). The development of RayCare®* is continuing as planned,” says Johan Löf, President and CEO of RaySearch.

    FOURTH QUARTER (OCTOBER-DECEMBER, 2016) 

    • Net sales SEK 191.4 M (132.0), of which revenues from RayStation SEK 174.8 M (109.4) 
    • Profit after tax SEK 75.9 M (33.3), and earnings per share before/after dilution SEK 2.21 (0.97) 
    • Operating profit SEK 100.2 M (44.3) 
    • Cash flow SEK 56.6 M (12.4) 
    • Order intake excl. service agreements SEK 189.0 M (117.9), of which RayStation SEK 176.3 M (102.9)  
    • Order backlog for RayStation was SEK 67.5 M (49.1) at the end of the period

    TWELVE MONTHS (JANUARY-DECEMBER, 2016) 

    • Net sales SEK 531.5 M (397.6), of which revenues from RayStation SEK 476.0 M (300.4) 
    • Profit after tax SEK 151.4 M (70.2), and earnings per share before/after dilution SEK 4.42 (2.05) 
    • Operating profit SEK 200.0 M (95.3) 
    • Cash flow SEK 26.2 M (3.6) 
    • Order intake excl. service agreements SEK 501.1 M (385.2), of which RayStation SEK 461.0 M (316.9)  
    • The Board of Directors proposes that no dividend be paid for 2016

    SIGNIFICANT EVENTS DURING THE FOURTH QUARTER 

    • RaySearch secured several major orders, including Chang Gung Memorial Hospital (Kaohsiung) in Taiwan and the University of Washington Medical Center, University of Wisconsin-Madison and University of Arizona Radiation Oncology (Tucson) in the US. 
    • Erik Hedlund resigned from his position as Chairman of the Board and left the Board on November 17, 2016. Carl Filip Bergendal was elected new Chairman until the Annual General Meeting on May 23, 2017. 
    • In December, 1,567,089 Class A shares were converted to Class B shares at the request of shareholders. 

    SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD 

    • RayStation 6 was launched* and is the only treatment planning system that can create plans for both conventional linear accelerators and Accuray’s TomoTherapyTM treatment system. 
    • University Health Network (UHN) in Canada exclusively licensed a new artificial intelligence (AI) technology for automated radiation therapy treatment planning (AutoPlanning) to RaySearch. 
    • RaySearch’s CEO and founder, Johan Löf was named Sweden’s foremost entrepreneur in the national final of the EY Entrepreneur of the Year competition. 

    ABOUT RAYSEARCH 

    RaySearch Laboratories is a medical technology company that develops advanced software solutions for improved radiation therapy of cancer. RaySearch develops and markets the RayStation treatment planning system to clinics all over the world and distributes the products through licensing agreements with leading medical technology companies. The company is also developing the next-generation oncology information system, RayCare, which comprises a new product area for RaySearch, and will be launched in 2017. RaySearch’s software is currently used by over 2,600 clinics in more than 65 countries. The company was founded in 2000 as a spin-off from the Karolinska Institute in Stockholm and the share has been listed on Nasdaq Stockholm since November 2003. More information about RaySearch is available at www.raysearchlabs.com. 

    FOR FURTHER INFORMATION, PLEASE CONTACT: 

    Johan Löf, President and CEO
    Tel: +46 8 510 530 00
    Email:
    johan.lof@raysearchlabs.com 

    Peter Thysell, CFO
    Tel: +46 70 661 05 59
    Email: peter.thysell@raysearchlabs.com
     

    The information contained in the interim report is such that RaySearch Laboratories AB (publ) is obliged to disclose under the EU’s Market Abuse Regulation and the Securities Market Act. The information was submitted for publication on February 17, 2017 at 7:45 a.m. CET.

    *Regulatory approval is required in some markets.

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    RaySearch postpones the interim report for the first quarter of 2017 because of CEO’s participation in the trade fair PTCOG in Japan

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    RaySearch Laboratories AB (publ) postpones the interim report for the first quarter of 2017 to 19 May 2017 at 07:45 CET, since the company’s CEO will attend the trade fair PTCOG in Japan on 8-13 May (and thus cannot attend a board meeting in connection with the previously announced date of that report).

    RaySearch’s year-end report for 2016 will be released on 17 February 2017 at 07.45 CET as previously announced.

    About RaySearch
    RaySearch Laboratories AB (publ) is a medical technology company that develops innovative software solutions for improved radiation therapy of cancer. RaySearch develops and markets the RayStation® treatment planning system to clinics all over the world and distributes the products through licensing agreements with leading medical technology companies. The company is also developing the next-generation oncology information system, RayCare®, which comprises a new product area for RaySearch, and will be launched in 2017. RaySearch’s software is currently used by over 2,600 clinics in more than 65 countries. The company was founded in 2000 as a spin-off from the Karolinska Institute in Stockholm and the share has been listed on Nasdaq Stockholm since November 2003.  

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

    For further information, please contact:
    Johan Löf, CEO              Telephone: +46 8 510 530 00     Email: johan.lof@raysearchlabs.com 
    Peter Thysell, CFO         Telephone: +46 70 661 05 59     Email: peter.thysell@raysearchlabs.com

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    Taiwan’s Chang Gung Memorial Hospital selects RayStation for proton therapy

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    Chang Gung Memorial Hospital, a leading teaching hospital in Kaohsiung, Taiwan, has chosen RayStation as the treatment planning system for use with its new Sumitomo proton therapy system.

    Established in 1976, the hospital has expanded rapidly and is now one of Taiwan’s foremost centers for treatment and research. The Proton and Radiation Therapy Center of Chang Gung Memorial Hospital was the first proton center in Taiwan, and the center provides advanced radiation therapy services to patients from Taiwan and internationally. Annually, it treats around 3,000 patients with photon radiation and 1,500 patients with protons.

    The RayStation order, which was placed via Sumitomo Heavy Industries, comprises software, computer hardware, beam commissioning, user training and clinical licenses. Delivery is scheduled for August 2017, and commissioning will also take place during the year. The hospital expects to begin treating patients using the system in early 2018.

    Kazuto Kaneshige, Senior Vice President, Sumitomo Heavy Industries, Ltd., says: “Sumitomo is very happy to supply RayStation to Chang Gung Memorial Hospital. RayStation will accommodate the hospital’s requirements and make it possible to fully exploit the capabilities of our proton therapy system.”

    Johan Löf, CEO of RaySearch, says: “I am delighted to be able to support the proton planning needs of Chang Gung Memorial Hospital, which is a pioneer of cutting-edge techniques in Taiwan. Asia is a technologically advanced market and an important focus for RaySearch. We have a strong presence in the region, supporting a variety of different treatment machines, and we will continue to extend our partnerships with leading cancer centers.”

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    University of Washington Medical Center selects RayStation

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    The Department of Radiation Oncology at UW Medical Center has purchased RayStation®, which will become its primary clinical radiation therapy treatment planning system and research platform in 2017.

    RayStation will be used for all external beam treatment planning at the University of Washington. The system will feature several advanced functionalities, including adaptive planning, deformable registration, fallback planning and the unique Plan Explorer tool.  Plan Explorer enables automatic generation of a large number of high-quality treatment plans for different treatment techniques and types of machines, based on selected clinical goals.

    The university also plans to continue its internal development of neutron planning, utilizing the research and interface tools in RayStation.

    Johan Löf, CEO of RaySearch Laboratories, says: “UW Medical Center is a cutting-edge cancer center. Its pioneering focus is a perfect match for RayStation, which supports the most advanced techniques and technologies across a variety of different machines. We are delighted to be a partner in advancing both treatment and research.”

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    University of Arizona Radiation Oncology (Tucson) selects RayStation

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    The Department of Radiation Oncology at the University of Arizona and Banner Health has purchased RayStation®, which will become the primary clinical radiation therapy treatment planning system at both the Main Campus location and the Orange Grove Campus facility.

    RayStation will be used for all external beam treatment planning at the University of Arizona. It was purchased in part to support the new expansion to the University of Arizona Cancer Center at the North Campus location, which will be completed in the fall of 2017. This 20,000-square-foot expansion will house a radiation oncology facility with state-of-the-art precision technology, including the new RayStation treatment planning system.

    Baldassarre Stea, MD PhD, Professor and Department Head of Radiation Oncology, says : “Our goal is to build a comprehensive facility that provides advanced technologies for our patients at every level. We believe that the choices we have made will help us achieve our vision of providing this highest quality of care. As the only NCI-designated Comprehensive Cancer Center in the State of Arizona, we wanted to select a treatment planning system that offered cutting-edge tools and the ability to support research and clinical trials. We look forward to working with RaySearch.”

    Johan Löf, CEO of RaySearch, says: “This is an exciting partnership with great potential. The University of Arizona has an ambition to provide the highest level of care through advanced technology, and RayStation supports the latest techniques across the spectrum of treatment delivery machines. We are well positioned to meet the university’s treatment planning needs into the future.”

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    RaySearch CEO and founder Johan Löf named Swedish entrepreneur of the year

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    On Wednesday 1 February, RaySearch CEO Johan Löf was honored as Sweden’s foremost entrepreneur in the national final of the EY Entrepreneur Of The Year competition, sponsored by Ernst & Young, at a gala event hosted at Stockholm City Hall. He will now represent Sweden in the global final in June, when the world’s top entrepreneur will be selected.

    The jury’s motivation for the choice stated: “Johan Löf has created a company that benefits both individuals and society. Advanced products and strong personal and commercial drive make his business stand out. Continued expansion is on the agenda for this entrepreneur, who improves quality of life for millions of people.”

    Johan Löf started the medical technology company RaySearch in 2000, based on his PhD work at Karolinska Institutet in Stockholm on optimization of radiation therapy. Today, the company has over 200 employees and 2016 sales were SEK 531 million.

    RaySearch’s treatment planning software, RayStation®, makes it possible to analyze a tumor and surrounding healthy tissue and calculate the optimal radiation treatment for each individual cancer patient. RayStation is the most advanced treatment planning system on the market. It supports the latest clinical techniques and makes the planning process faster and simpler.

    Carlos Esterling, who is responsible for EY Entrepreneur Of The Year in Sweden, said: “Johan Löf is the very image of an innovative entrepreneur. His amazing drive and exemplary leadership have led to major advances in cancer care, both in Sweden and internationally. Johan is a worthy winner and, given that his business is a world leader, I think he has great chances in the global final this summer.”

    Johan Löf, CEO of RaySearch, said: “This award is a tremendous honor. RaySearch is very much a team effort, and I would like to thank the talented and dedicated co-workers in the company who have made this success possible. Being an entrepreneur means constantly moving forward and creating new possibilities. Towards the end of this year, we will release a next-generation oncology information system, RayCare®. This will, among other things, allow us to take a holistic approach to cancer treatment and expand our application to adjacent fields such as surgery and chemotherapy. This is just the beginning for RaySearch.”

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    RaySearch licenses AI technology for automated treatment planning from UHN

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    University Health Network (UHN) in Canada has exclusively licensed a new artificial intelligence (AI) technology for automated radiation therapy treatment planning to RaySearch, for incorporation* into the RayStation® treatment planning system. The technology was developed by the Techna Institute, which is a collaboration between UHN and the University of Toronto.

    The license gives RaySearch the ability to integrate deep-learning algorithms from Princess Margaret Cancer Centre's AI automated planning technology platform into RayStation. The technology will be built into RayStation’s module for automated treatment planning across multiple treatment sites, enabling rapid adoption by clinical customers.

    Princess Margaret Cancer Centre has been developing AI technologies to automate radiation therapy processes over the last several years. AutoPlanning, developed by Physicist Dr. Tom Purdie and Researcher Dr. Chris McIntosh at Princess Margaret, provides a fundamentally different paradigm for generating radiation therapy treatment plans compared with both current manual and automated methods. Conventional methods have focused on learning a few treatment parameters, whereas AutoPlanning learns to model the shape and intensity of the radiation treatment as it is related to the patient’s images, reducing planning times from hours to minutes, while requiring minimal upfront preparation or user interaction.

    The AutoPlanning AI technology uses customized machine learning and image processing to determine the relevant features of treatment plans and learn quantitative relationships between patients in order to create radiotherapy treatment plans. Specifically, it utilizes a database of thousands of high-quality plans to generate optimal solutions to the planning problem.

    Dr. Tom Purdie of Princess Margaret Cancer Centre, says: “AutoPlanning has a machine-learning engine that automatically learns from previous plans and determines what the best plan for a new patient is supposed to look like. The license to RaySearch will make AutoPlanning available to hospitals across the globe, allowing them to create better plans more efficiently.”

    Johan Löf, CEO of RaySearch, says: “This technology has the potential to make a huge contribution to patient care. I am delighted to be able to bring its benefits to centers around the world as part of the RayStation platform. This development fits perfectly with our strong focus on advanced automation features in RayStation.”

    * Subject to regulatory clearance in some markets

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    RaySearch increases the operating profit by 126 percent in the fourth quarter

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    RaySearch Laboratories AB (publ) releases preliminary numbers for the fourth quarter and the full-year 2016 earlier than the year-end report due to the strong increase in the operating profit.

    Sales increased by 45 percent to 191 (132) MSEK in the fourth quarter and the operating profit increased by 126 percent to 100 (44) MSEK.

    Sales for the full-year increased by 34 percent to 531 (398) MSEK and the operating profit increased by 109 percent to 200 (95) MSEK.

    The above numbers are preliminary and a final year-end report will be released on 17 February 2017 at 07.45 CET as previously announced.

    About RaySearch
    RaySearch Laboratories AB (publ) is a medical technology company that develops innovative software solutions for improved radiation therapy of cancer. RaySearch develops and markets the RayStation® treatment planning system to clinics all over the world and distributes the products through licensing agreements with leading medical technology companies. The company is also developing the next-generation oncology information system, RayCare®, which comprises a new product area for RaySearch, and will be launched in 2017. RaySearch’s software is currently used by over 2,600 clinics in more than 65 countries. The company was founded in 2000 as a spin-off from the Karolinska Institute in Stockholm and the share has been listed on Nasdaq Stockholm since November 2003.  

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

    For further information, please contact:
    Johan Löf, CEO              Telephone: +46 8 510 530 00     Epost: johan.lof@raysearchlabs.com
    Peter Thysell, CFO         Telephone: +46 70 661 05 59     Epost: peter.thysell@raysearchlabs.com 


    This information is information that RaySearch Laboratories AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 22.30 CET on 31 January 2017.

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    New RayStation release to include TomoTherapy planning

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    RayStation® 6*, the latest release of RaySearch’s innovative radiation therapy treatment planning system, adds significant new functionality and a wide range of general improvements. Major additions include forthcoming support for Accuray TomoTherapy™ systems.

    The new release sets RayStation apart as the only system to enable planning for both conventional linacs and TomoTherapy systems, giving clinics one point of control for all treatment planning needs. This is in line with RaySearch’s ambition to unify treatment planning as far as possible, eliminating the complications and additional steps that arise from using multiple software systems. All contouring work can be done in one workspace. It is also possible to plan combined treatments and accurately calculate combined dose. Clinical support for TomoTherapy systems is pending final validation and will be included in a service pack to be released in the near future.

    Other RayStation 6 highlights include:

    • Monte Carlo dose calculation for proton pencil-beam scanning (PBS)
    • PBS planning with block apertures
    • Simultaneous co-optimization of multiple beamsets
    • MR-based planning, using MR-image as planning image
    • Auto-recovery

    RayStation 6 also includes many other additions and general improvements, such as a new dose brush tool to adjust dose in user-specified regions, dose thumbnails in Plan Explorer, support for patients scanned decubitus left/right, the ability to change patient ID, improved prescribed fraction dose handling and display, as well as further enhancements to the GUI.

    Johan Löf, CEO of RaySearch, says: “Our vision is to bring harmony to treatment planning. TomoTherapy planning is an important step, and we will shortly be adding support for further systems and technologies. Unified treatment planning brings many benefits to clinics, including simplified workflows and reduced demands on staff training.”

    * Subject to regulatory clearance in some markets

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    University of Wisconsin-Madison selects RayStation

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    The Department of Human Oncology at the University of Wisconsin-Madison has chosen RayStation® as its next radiation therapy treatment planning system. The agreement was signed in late December 2016, and the purchase is planned to occur in two phases.

    RayStation will be used for external beam treatment planning at the University of Wisconsin and satellite clinics. The agreement also covers affiliates and other partnerships.  The purchase includes advanced features such as deformable registration, dose accumulation and adaptive radiation therapy planning. The university will also be an early investigator of TomoTherapy™ planning* in RayStation, which allows for single-platform planning including the Accuray TomoTherapy machines.

    John Bayouth, Chief of Radiation Oncology Physics at the Department of Human Oncology, says: “The university is constantly developing and extending its capabilities in the realm of radiation therapy treatment planning.  Our intention is to explore plans that leverage the diversity of treatment delivery technologies in our system and determine the optimal approach for each patient.”

    Johan Löf, CEO of RaySearch Laboratories, says: “The University of Wisconsin-Madison is well known for its capabilities and long track record in radiation treatment of cancer. The university has conducted pioneering research since the advent of three-dimensional patient imaging and has also spawned several successful companies within treatment planning and delivery. We share a spirit of innovation, and our relationship will lead to further advancement of cancer care. This order, and over 40 more RayStation orders that we received during the fourth quarter, contributed to a very strong finish for 2016.”

    * Subject to regulatory clearance in some markets

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