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    STRONG MOMENTUM IN RAYSTATION PROTON THERAPY SALES

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    Eight additional proton therapy centers worldwide have chosen RayStation as their treatment planning system. Six of the orders were received in June 2017: the Children’s Cancer Hospital Foundation (Cairo, Egypt), Hospital Quirónsalud (Madrid, Spain); Mayo Clinic Hospital (Phoenix, US); ZON-PTC (Maastricht, Netherlands); MedStar Georgetown University Hospital (Washington DC, US) and the Johns Hopkins Medicine proton center at Sibley Memorial Hospital (Washington DC, US). RayStation was also recently selected by Tata Memorial Center in Mumbai, one of India’s first proton therapy facilities, and PLA General Hospital in Beijing, China. A total of 35 proton centers have purchased RayStation so far, and this constitutes more than half of the existing proton centers in the world.

    These eight centers represent a variety of hospital environments and machine types. RayStation will be used together with the IBA Proteus Plus and Proteus One systems, Mevion systems with HYPERSCAN, and Hitachi ProBeat systems.

    The centers will receive the latest version of RayStation, which includes innovative features such as fast Monte Carlo pencil beam scanning (PBS) optimization and dose calculation, use of PBS with apertures, and robust optimization/4D-CT optimization for proton and carbon ion planning. All purchases include both clinical and research licenses.

    RayStation has a wide range of features of value to researchers at academic centers. A few examples are LET and RBE calculations for proton and carbon PBS planning, interplay evaluation from machine delivery log files, PET-based range verification, proton and carbon planning on virtual CBCT(CT) images, and small animal X-ray irradiator planning.

    The clinical and research configurations of RayStation will be on show at the upcoming AAPM Annual Meeting in Denver, Colorado, 30 July–2 August 2017. Attendees are welcome to visit RaySearch at booth #5079 and demonstrations can be booked now at www.raysearchlabs.com.

    About RayStation
    RayStation integrates all RaySearch’s advanced treatment planning solutions into a flexible treatment planning system. It combines unique features such as multi-criteria optimization tools with full support for 4D adaptive radiation therapy. It also includes functionality such as RaySearch’s market-leading algorithms for IMRT and VMAT optimization and highly accurate dose engines for photon, electron, proton and carbon ion therapy. The system is built on the latest software architecture and features a graphical user interface with state-of-the-art usability.

    About RaySearch
    RaySearch Laboratories AB (publ) is a medical technology company that develops innovative software solutions for improved radiation therapy of cancer. RaySearch markets the RayStation treatment planning system to clinics all over the world and distributes 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 which will be launched in December 2017. RaySearch’s software is used by over 2,600 clinics in more than 65 countries. The company was founded in 2000 as a spin-off from Karolinska Institutet in Stockholm and the share has been listed on NASDAQ Stockholm since November 2003.

    * Subject to regulatory clearance in some markets

    For further information, please contact:
    Johan Löf, President and CEO, RaySearch Laboratories AB (publ)
    Telephone: +46 (0)8-510 530 00
    johan.lof@raysearchlabs.com 

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    RAYSTATION SELECTED FOR NEW NETHERLANDS PROTON THERAPY CENTER

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    The South-East Netherlands Proton Therapy Centre (ZON-PTC), located in Maastricht, has selected RayStation as its treatment planning system following an extensive evaluation of the leading software systems. Scheduled to open by early 2019, the new center will have a single-room setup utilizing the MEVION S250i Proton Therapy System with HYPERSCAN technology.

    Maria Jacobs, CEO of ZON-PTC and MAASTRO Clinic, says: “The initiative will enable patients in the Netherlands and beyond to benefit from this highly precise form of treatment. Our approach also demonstrates that technological innovation can be cost-effective. RayStation is an important aspect in this, combining advanced clinical functionality with an outstanding user experience to ensure smooth and efficient workflows.”

    The RayStation configuration will include pencil beam scanning, deformable registration, dose tracking, contouring and the full module for adaptive therapy. ZON-PTC is a joint undertaking between MAASTRO clinic and the Maastricht University Medical Centre (Maastricht UMC+). The state-of-the-art facility will deliver the benefits of proton therapy to patients across the southeast region of the Netherlands and will also be a referral site for hospitals across the country. The center expects to treat up to 400 patients per year.

    Geert Bosmans, Head of Clinical Proton Physics at ZON-PTC, says: “RayStation is the most advanced treatment planning system available and will give us wide-ranging clinical possibilities. ZON-PTC will be one of the first centers worldwide to combine RayStation and Mevion’s HYPERSCAN, and we look forward to collaborating on the implementation of all functionalities, including Adaptive Aperture. Fast calculation speed makes RayStation ideal when planning for complex cases, and it has the capabilities we need for efficient adaptive therapy, which is one of our priorities.

    Johan Löf, CEO of RaySearch, says: “RaySearch has a strong focus on proton therapy and we have designed RayStation to meet the demands of pioneering centers such as ZON-PTC. I am very pleased to support this outstanding collaboration, which will help to improve quality of life for many cancer patients.”

    About ZON-PTC
    The Southeast Netherlands Proton Therapy Center (ZON-PTC) is an initiative of MAASTRO Clinic and Maastricht UMC+. MAASTRO Clinic is a leading institute offering conventional radiation therapy with photons. Maastricht UMC+ is known both nationally and internationally for its focus on prevention and integrated approach to health care.
    ZON-PTC will benefit from the knowledge and expertise of both institutions and will share existing facilities.

    About RayStation
    RayStation integrates all RaySearch’s advanced treatment planning solutions into a flexible treatment planning system. It combines unique features such as multi-criteria optimization tools with full support for 4D adaptive radiation therapy. It also includes functionality such as RaySearch’s market-leading algorithms for IMRT and VMAT optimization and highly accurate dose engines for photon, electron, proton and carbon ion therapy. The system is built on the latest software architecture and features a graphical user interface with state-of-the-art usability.

    About RaySearch
    RaySearch Laboratories AB (publ) is a medical technology company that develops innovative software solutions for improved radiation therapy of cancer. RaySearch markets the RayStation treatment planning system to clinics all over the world and distributes 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 which will be launched in December 2017. RaySearch’s software is used by over 2,600 clinics in more than 65 countries. The company was founded in 2000 as a spin-off from Karolinska Institutet in Stockholm and the share has been listed on NASDAQ Stockholm since November 2003.

    * Subject to regulatory clearance in some markets

    For further information, please contact:
    Johan Löf, President and CEO, RaySearch Laboratories AB (publ)
    Telephone: +46 (0)8-510 530 00
    johan.lof@raysearchlabs.com

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    AMC, NETHERLANDS, SELECTS RAYSTATION

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    The Academic Medical Center (AMC) in Amsterdam is one of the foremost research institutions in the Netherlands, as well as one of its largest hospitals. To stay at the cutting edge in radiation therapy, the center needed a new treatment planning system, with key considerations including high calculation speed, automation capabilities, adaptive planning and a user-friendly interface. RayStation was selected following an evaluation of the leading systems.

    The purchase includes contouring, VMAT, IMRT, forward planning, adaptive and scripting. AMC will also become a reference center for RayStation’s Plan Explorer functionality. Plan Explorer makes it possible to automatically generate large numbers of plans for defined clinical goals and combinations of treatment techniques and machines.

    Professor Coen Rasch at AMC says: “Advances in treatment have placed increasing demands on treatment planning in recent years, and our existing system has struggled to keep up. To match the pace of new developments, AMC needs a user-friendly TPS where user interactions can be scripted. Automated planning is needed for most cases, so that clinicians can focus on the more complex treatment plans, and an excellent workflow for adaptive therapy is also essential. RayStation has the capabilities we need for fast and efficient workflows and advanced techniques, and will meet our changing needs into the future.”

    Johan Löf, CEO of RaySearch, says: “I am gratified to help AMC stay at the cutting edge of radiation therapy. Optimized workflows and efficient automation are key strengths of RayStation, and it is unmatched in support for adaptive therapy. I look forward to a long and successful cooperation.”

    About AMC
    The Academic Medical Center (AMC) is a leading Netherlands research institution and hospital. Over 7,000 people work here to provide integrated patient care, fundamental and clinical scientific research, and teaching.
    AMC has 45 clinical and non-clinical departments, covering all the medical specializations recognized in the Netherlands. The hospital treats around 26,000 in-patients and 350,000 outpatients per year. A number of biotech companies (some of which are AMC spin-offs) are also located on the premises. This concentration of expertise makes the center a breeding ground for fruitful scientific collaboration.

    About RayStation
    RayStation integrates all RaySearch’s advanced treatment planning solutions into a flexible treatment planning system. It combines unique features such as multi-criteria optimization tools with full support for 4D adaptive radiation therapy. It also includes functionality such as RaySearch’s market-leading algorithms for IMRT and VMAT optimization and highly accurate dose engines for photon, electron, proton and carbon ion therapy. The system is built on the latest software architecture and features a graphical user interface with state-of-the-art usability.

    About RaySearch
    RaySearch Laboratories AB (publ) is a medical technology company that develops innovative software solutions for improved radiation therapy of cancer. RaySearch markets the RayStation treatment planning system to clinics all over the world and distributes 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 which will be launched in December 2017. RaySearch’s software is used by over 2,600 clinics in more than 65 countries. The company was founded in 2000 as a spin-off from Karolinska Institutet in Stockholm and the share has been listed on NASDAQ Stockholm since November 2003.

    * Subject to regulatory clearance in some markets

    For further information, please contact:
    Johan Löf, President and CEO, RaySearch Laboratories AB (publ)
    Telephone: +46 (0)8-510 530 00

    johan.lof@raysearchlabs.com

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    PBS planning for proton systems from Mitsubishi Electric now live in RayStation

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    With the release of a new service pack, RaySearch’s innovative radiation therapy treatment planning system, RayStation® 6, now supports pencil beam scanning (PBS) planning for proton therapy systems from Mitsubishi Electric. The service pack also includes several minor functionality improvements.

    All existing proton PBS functionality in RayStation can now be utilized for Mitsubishi Electric PBS machines. It is now possible, for example, to select the meterset rate to be used for each beam. Spot sorting and filtering is available during optimization, taking Mitsubishi Electric machine-specific scanning parameters into account during optimization for creation of deliverable plans. Range shifters can also be selected automatically during optimization if desired, securing optimal target coverage, and all Mitsubishi Electric PBS applicators are now supported.

    Johan Löf, CEO of RaySearch, says: “Proton therapy is an important focus area for RaySearch. We aim to support as many treatment machines as possible and help clinics to bring the benefits of this advanced technique to as many patients as possible.”

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    University of Wisconsin–Madison partners with RaySearch on next-generation OIS

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    The Department of Human Oncology at the University of Wisconsin-Madison has entered into an agreement with RaySearch to pioneer the RayCare® oncology information system. The groundbreaking system will be used in the department’s strong multidisciplinary approach to cancer care and its focus on cutting-edge techniques.

    RayCare facilitates comprehensive cancer treatment by unifying workflows for medical oncology, radiation oncology and surgical oncology. It helps promote a patient-centered approach to cancer treatment while increasing efficiency across the disciplines and meeting the demands of emerging techniques.

    The system will be co-developed at the University of Wisconsin—Madison and three satellite clinics, and should be prepared for clinical operation thereafter. Ultimately, all the University’s oncology activities will be assessed for coordination through RayCare. As the University has also selected RayStation® as its treatment planning system, the efficiency gains provided by the integration of RayStation and RayCare will be evaluated.

    John Bayouth, Chief of Radiation Oncology Physics at the UW-Department of Human Oncology, says: “As a forward-looking center, we are constantly exploring new ways to improve patient care. RayCare is being designed to coordinate our oncology disciplines and our hope is to realize the full potential of our diverse clinical resources.”

    Johan Löf, CEO of RaySearch, says: “The University of Wisconsin-Madison has a clear vision for the future of cancer treatment and research. RaySearch shares this vision, and I am proud to partner with them in developing an OIS that will extend their capabilities and help to keep them at the forefront.”

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    Leading Austrian clinic selects RayStation

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    Salzburg Country Hospitals–Paracelsus Medical University Hospital Salzburg (SALK) has selected the RayStation® treatment planning system, which it will use for photon therapy. The agreement covers three RayStation Planning licenses and five RayStation Doctor licenses, and functionality will include RayStation’s multi-criteria optimization.

    The Department of Radiotherapy and Radio-Oncology at the University Hospital Salzburg is an advanced clinic with a history of technical development, including its own treatment planning system and oncology information system and other innovations to benefit patients. RayStation will be used to plan for patients to be treated on Elekta linacs.

    Professor Felix Sedlmayer, head of the department, says: “We chose RayStation following a thorough evaluation of competing treatment planning systems. We are a clinic that aims to be at the forefront of medical technology, and RayStation will help us achieve our goals. It is a highly innovative system that supports the most advanced treatment techniques and will provide us with new treatment possibilities.” 

    Johan Löf, CEO of RaySearch, says: “I am delighted to support the future needs of SALK, a leading center that values innovation and prioritizes technology as a key factor in improving patient care. We have designed RayStation to meet the needs of clinics such as SALK, which work with advanced techniques. RayStation supports cutting-edge approaches and provides the best possible user experience for clinicians.”

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    RaySearch to show new software developments at AAMD Annual Meeting

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    June 11-15, RaySearch will be exhibiting at the American Association of Medical Dosimetrists (AAMD) annual meeting in Indianapolis, Indiana. The company will demonstrate the innovative features in the latest release of its treatment planning system, RayStation®. In addition, RaySearch will give preview demonstrations of its forthcoming oncology information system, RayCare®*, which is due to be launched in December 2017. Attendees are welcome to visit RaySearch at booth #216, and demonstrations can be booked now at www.raysearchlabs.com.

    RaySearch will also host treatment planning workshops on Tuesday 13 June, giving participants an in-depth, hands-on session with the software. The morning session is a general overview of the entire treatment planning system, while the afternoon session targets more advanced features such as deformable registration, treatment adaptation, Plan Explorer and more. 

    Clinical presentations
    Several RayStation customer clinics will make presentations during the meeting, including the following:

    Seattle Cancer Care Alliance Proton Therapy Center
    After the Plan: Using Templates and Scripts to Improve Documentation (Grayden MacLennan MBA, MSM, MS, CMD)

    Princeton-Procure Proton Therapy Center
    Introduction of Proton Planning (Kevin Sine, CMD, RT(R)(T))

    Seattle Cancer Care Alliance Proton Therapy Center
    Modern Pencil Beam Scanning Proton Therapy: Where We Are and Where We Are Going (Alexander Goughenour CMD)

    Northwestern Medicine Chicago Proton Center
    Proton Therapy Versus Photon Therapy: Which Treatment Sites Benefit from Which? (Stacey Schmidt BS, CMD, RT(T)

    New features in RayStation 6
    New functionality and a wide range of general improvements will all be on show at AAMD. Major additions include support for Helical TomoTherapy*. RayStation will be the only system that enables planning for both conventional linacs and Accuray TomoTherapy systems, giving one point of control for all treatment planning activities. 

    RayStation 6 also introduces simultaneous optimization of multiple beam sets for SMLC, DMLC and VMAT, and MR-based planning, which makes it possible to use an MR image as the primary data set for photon therapy. Other highlights include Monte Carlo dose calculation for proton pencil beam scanning (PBS) and PBS planning with block apertures. 

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    RaySearch founder Johan Löf nominated for global entrepreneurship award

    The winner of EY World Entrepreneur Of The Year, the premier international award for entrepreneurs, will be announced On 10 June. The finalist representing Sweden is Johan Löf, CEO and founder of RaySearch Laboratories AB, which develops innovative software that improves cancer treatment for millions of patients worldwide. Löf will compete against entrepreneurs from over 60 countries.

    EY Entrepreneur Of The Year celebrates successful entrepreneurs who stimulate economic growth. An independent national jury selected Löf as Sweden's representative in the international final, highlighting, achievements such as his founding of a company that benefits both individuals and society.

    The competition takes place in Monaco on 7-11 June. An independent international jury will name the winner on the evening of 10 June. Finalists are judged on six criteria: entrepreneurial spirit, economic development, strategic direction, impact on the wider world, innovation, and personal integrity and impact.

    When Johan Löf was 16, his mother died of lung cancer. Her death had a strong impact on his career choice. He founded RaySearch in 2000, based on discoveries he made during his PhD work at Karolinska Institutet in Sweden, and the company was listed in 2003. RaySearch’s main product today is RayStation®, an innovative system that enables cancer clinics to plan the optimal treatment approach for each patient. RayStation is used by over 400 cancer clinics around the world. RaySearch currently has around 220 employees, of whom 120 work with research and development.

    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 great advances in cancer treatment both in Sweden and internationally. We at EY believe that entrepreneurs are essential for Sweden’s future, and our award recognizes role models who inspire others with the courage to pursue their ideas. I am proud that Johan will represent Sweden's outstanding entrepreneurship. His business is a world leader, and I believe he has an excellent chance in the final.”

    Johan Löf, CEO and founder of RaySearch, said: “It is a great honor to represent Sweden in the global final of this entrepreneurship award. I look forward to competing with my product, which improves quality of life for millions of patients. Being an entrepreneur means constantly creating new opportunities, and continued expansion is on the agenda for RaySearch. I am also extremely excited about this opportunity to meet entrepreneurs from all over the world.”

    Resolutions at the Annual General Meeting 2017

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    At the Annual General Meeting of RaySearch Laboratories AB (publ) held on May 23, 2017, the following resolutions were adopted.

    It was resolved that the accumulated profit, amounting to SEK 177,389,770 be brought forward and balanced in the new accounts.

    The Annual General Meeting adopted the balance sheets and income statements and discharged the members of the Board and the CEO from personal liability.

    It was resolved to adopt the guidelines for remuneration to senior executives proposed by the Board, to apply until the close of the Annual General Meeting 2018.

    It was resolved 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 close of the next Annual General Meeting, of which SEK 480,000 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.

    It was resolved that the Auditor’s fees be paid in accordance with current approved invoicing.

    It was resolved to re-elect Carl Filip Bergendal, Johan Löf and Hans Wigzell as Board members of the company, to elect Johanna Öberg as new board member and to appoint Carl Filip Bergendal as Chairman of the Board.

    It was resolved to re-elect the auditing firm Ernst & Young as Auditors, with the authorized public accountant Per Hedström as auditor in charge.

    It was resolved to authorize the Board to resolve on new issues of Series B shares and/or issues of convertible debt instruments, on one or several occasions up until the Annual General Meeting of 2018, in accordance with the proposal by the Board.

    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, President and CEO, RaySearch Laboratories AB (publ)
    Telephone: +46 (0)8-510 530 00
    johan.lof@raysearchlabs.com 

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    Interim report January 1 - March 31, 2017

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    RaySearch Laboratories AB (publ)

    “The positive trend continued in the first quarter and net sales increased 33 percent to SEK 127 M (95), of which revenues from RayStation® rose 39 percent to SEK 112 M (81), and operating profit rose 43 percent to SEK 33 M (23). MD Anderson has become collaboration partner regarding RayCare® and the development work is progressing as planned,” says Johan Löf, President and CEO of RaySearch. 

    THREE MONTHS (JANUARY-MARCH 2017) 

    • Net sales SEK 126.8 M (95.4), of which revenues from RayStation SEK 112.3 M (80.8) 
    • Profit after tax SEK 26.3 M (17.8), and earnings per share before/after dilution SEK 0.77 (0.52) 
    • Operating profit SEK 33.5 M (23.4) 
    • Cash flow negative SEK 3.0 M (neg: 5.2) 
    • Order intake excl. service agreements SEK 104.9 M (81.9), of which RayStation SEK 93.8 M (72.6) 
    • At the end of the period, order backlog for RayStation was SEK 58.1 M (47.1)

    SIGNIFICANT EVENTS DURING THE FIRST QUARTER 

    • RayStation 6 was launched*, making RayStation the only treatment planning system that can create plans for Accuray’s TomoTherapyTM treatment system, in addition to conventional linear accelerators. 
    • RayStation was chosen by several leading cancer clinics, including Nottingham City Hospital in the UK, Zhuozhou in China, the Tata Memorial Centre in India, Kennestone Hospital (part of WellStar Health System) and Sharp Memorial Hospital (part of Sharp HealthCare) in the US. In addition, among others, the Maryland Proton Treatment Center, in partnership with the University of Maryland, have expanded their RayStation installations. 
    • The University Health Network (UHN) in Canada has exclusively licensed a new artificial intelligence (AI) technology for automated radiation therapy treatment planning (AutoPlanning) to RaySearch. 
    • Long-term collaborative agreement with MD Anderson related to RayCare*. 
    • RaySearch’s CEO and founder, Johan Löf was named Sweden’s foremost entrepreneur in the Swedish final of the EY Entrepreneur of the Year 2016 competition. 

    * Regulatory clearance required in some markets

    NO SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD 

    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 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           E-mail:
    johan.lof@raysearchlabs.com
    Peter Thysell, CFO                                    Tel: +46 70 661 05 59           E-mail: peter.thysell@raysearchlabs.com
     

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    RaySearch Annual Report for 2016

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    RaySearch Laboratories AB (publ) today published the English version of the Annual Report for 2016 on its website. The document also includes RaySearch’s corporate governance report.

    The Annual Report for the accounting period 1 January–31 December 2016 is now available at: www.raysearchlabs.com/investor

    Printed copies can be ordered by emailing a request to: ir@raysearchlabs.com

    As previously communicated, the RaySearch Annual General Meeting will be held on 23 May 2017 at 18:00 at RaySearch’s head office: Sveavägen 44, Stockholm, Sweden. The deadline for registration of attendance is 16.00 on 17 May 2017.

    About RaySearch
    RaySearch Laboratories AB (publ) is a medical technology company that develops innovative software solutions for improved cancer treatment. RaySearch markets the RayStation treatment planning system to clinics all over the world and distributes 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 which will be launched in 2017. RaySearch’s software is used by over 2,600 clinics in more than 65 countries. The company was founded in 2000 as a spin-off from Karolinska Institutet 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, RaySearch Laboratories AB (publ)
    Telephone: +46 (0)8-510 530 00
    johan.lof@raysearchlabs.com

    RaySearch Laboratories AB (publ) discloses the above information in accordance with securities market legislation. The information was first disclosed on 28 april 2017 at 10.00 CET.

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    Proton Monte Carlo dose calculation now part of RayStation

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    RayStation 6, the latest version of RaySearch’s innovative treatment planning system, introduces a Monte Carlo dose engine for proton pencil beam scanning (PBS) plans, which can be used in parallel with the existing pencil beam dose engine. The engine brings an additional level of precision without compromising on speed.

    Monte Carlo dose planning is one of the important new proton therapy features that RaySearch will be demonstrating this week at the PTCOG conference in Yokohama, Japan.

    Monte Carlo dose calculation is based on simulating the transport of individual particles. This makes it possible to fully account for the unaltered patient geometry, whereas analysis-based algorithms such as the pencil beam method require an approximate representation of the geometry. For the Monte Carlo method, accuracy is high, but speed was traditionally an issue until the advent of fast Monte Carlo algorithms. The dose engine in RayStation strikes the optimal balance between accurate physics modeling and speed, making it highly effective in clinical workflows.

    The Monte Carlo and pencil beam dose engines in RayStation are designed to be used in parallel, ensuring efficient and accurate dose calculation for all proton PBS planning needs. A single PBS machine model for a particular delivery system can support both the Monte Carlo and pencil beam dose calculations, and the beam-measurement data needed for commissioning is the same for both dose engines. The Monte Carlo and pencil beam dose engines can both be used for calculating spot dose distributions as input for optimization, with or without patient-specific block apertures, as well as for calculating a final dose distribution for plan approval.

    Johan Löf, CEO of RaySearch, says: “Proton therapy is an important area of focus for RaySearch and we aim to be at the leading edge of developments to improve patient treatment. The unmatched speed of RayStation makes it possible to deliver the accuracy of Monte Carlo dose planning while maintaining a fast and efficient clinical workflow.”

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    North American sales of RayStation continue to gain momentum

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    RayStation® is gaining an ever-stronger foothold in the North American market. Several leading treatment centers selected RayStation, or extended the clinical footprint of existing systems, in the first quarter of 2017. 

    Some of the most important of these facilities include:

    • Kennestone Hospital (a WellStar Health System facility) selected a full range of technologies, including Plan Explorer, an innovative tool to automatically prepare plans using several modalities to assess the best treatment approach.
    • Sharp Memorial Hospital (an affiliate within Sharp HealthCare) selected a broad range of technologies.
    • The Maryland Proton Treatment Center, in collaboration with the University of Maryland, extended its installation of RayStation, including additional clinical licenses for both photon and proton planning. RayStation will be used for pencil beam/IMPT planning on the Varian ProBeam system at MPTC.

      Katja Langen, PhD, Associate Chief of Medical Physics at MPTC, says: “We aim to provide world-class proton therapy to achieve the best possible outcomes for patients. To be at the cutting edge, we need access to the most advanced and innovative treatment planning technologies. We are excited to add RayStation to our treatment planning portfolio.”

    Marc Mlyn, President of RaySearch Americas, says: “RayStation is increasingly acknowledged as the most innovative and comprehensive treatment planning system on one platform, and we are excited about the continuing upward sales trend in North America. It is gratifying that so many leading centers are turning to RayStation for their treatment planning needs.”

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    TomoTherapy planning now live in RayStation

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    With the release of a new service pack, TomoTherapy planning is now available in RayStation® 6*, RaySearch’s innovative radiation therapy treatment planning system. The service pack includes several other functionality improvements.

    RayStation is now 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.

    TomoTherapy planning in RayStation is highly visual and intuitive to use, making it straightforward to achieve an optimal plan. At a glance, users can see MLC leaf shapes, jaw movements, estimated delivery time and other data that has previously not been immediately accessible. The user also has access to all RayStation’s advanced functionality, including multi-criteria optimization and adaptive planning. Optimization capabilities for the TomoTherapy machine include dynamic jaw support, delivery time constraints and the possibility to specify regions where irradiation is avoided. TomoTherapy planning can be smoothly integrated into the clinical workflow and treatment plans are sent to Accuray’s integrated data management system for delivery (IDMS 1.1 is required). 

    Other functionality added by the service pack includes manual editing of wave arcs for Vero machines and MR planning density view. MR-based planning is a new feature introduced in RayStation 6 that enables an MR-image to be used as the planning image.

    RayStation customers who use TomoTherapy systems have expressed great interest. Marie Tiffany, Clinical Scientist Radiotherapy Physics at Queen Elizabeth Hospital Birmingham, UK, says: “The versatility of TomoTherapy treatment delivery, combined with the advanced planning and evaluation tools in RayStation, will provide a powerful tool to treat the most complicated cancers.”

    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.”

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    RayStation and RayCare on show at ESTRO 36

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    During 6–8 May, RaySearch will be exhibiting at the ESTRO 36 congress in Vienna, Austria. The company will demonstrate the innovative features in the latest release of its treatment planning system, RayStation®. In addition, RaySearch will give preview demonstrations of its forthcoming oncology information system, RayCare®*, which is due to be launched in the second half of 2017. Attendees are welcome to visit RaySearch at booth #1600, and demonstrations can be booked now at www.raysearchlabs.com.

    New features in RayStation 6
    New functionality and a wide range of general improvements will all be on show. Major additions include support for the Accuray Radixact™ System*. RayStation will be the only system that enables planning for both conventional linacs and the Accuray TomoTherapy platform treatment delivery system, giving one point of control for all treatment planning activities. Björn Hårdemark, Deputy CEO of RaySearch, will present a preview of the system in the Accuray booth on Sunday, 7 May 1 from 16:05 to 16:25. Demonstrations can also be booked by visiting the RaySearch and Accuray booths.

    RayStation 6 also introduces simultaneous optimization of multiple beam sets for SMLC, DMLC and VMAT, and MR-based planning, which makes it possible to use an MR image as the planning image for photon therapy. Other highlights on show include Monte Carlo dose calculation for proton pencil beam scanning (PBS) and PBS planning with block apertures.

    Automated planning and Plan Explorer
    RayStation has extensive automated planning features that help optimize workflows and create new treatment possibilities. Plan Explorer, for example, makes it possible to automatically generate a large number of high-quality treatment plan alternatives, saving valuable time and giving the clinician a wide range of options to consider.

    Adaptive therapy
    RayStation is designed to make adaptive therapy easy to implement and perform in clinical practice. At the RaySearch booth, attendees can discover how automation features and smart tools in the fully integrated dose tracking and adaptive planning modules make it straightforward to get started.

    The next-generation OIS
    RayCare has been developed from the ground up by RaySearch to support the complex logistical challenges in modern, large-scale radiation therapy centers. RayCare integrates the high-performance radiation therapy algorithms available in RayStation and adds advanced features for clinical resource optimization, workflow automation and adaptive radiation therapy.

    Lunch symposium: Advancing cancer treatment through software innovation
    On Saturday 6 May from 13.15–14.15, Room LEHAR 1–3, RaySearch will hold a lunch symposium focused on how software is driving innovation in oncology.

    Moderator: Simeon Nill, Head of Translational Radiotherapy Physics, Joint Department of Physics at The Institute of Cancer Research and The Royal Marsden NHS Foundation Trust, London, UK.

    Advancing cancer treatment through software innovation
    Johan Löf, Founder & CEO, RaySearch Laboratories AB, Stockholm, Sweden

    How to contribute to evidence-based radiotherapy in routine daily practice. From dream to reality.
    Johannes A. Langendijk, Professor and Chair of the Department of Radiation Oncology, University Medical Centre Groningen, Groningen, Netherlands

    Using RayStation as a unified treatment planning system to free up physicians’ time
    Xavier Mirabel, Professor and Chair of the Department of Radiation Therapy, Centre Oscar Lambret, Lille, France

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    RayStation selected for major new proton therapy center in China

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    RayStation will be the treatment planning system for a new proton center in Zhuozhou, Northern China, situated close to Beijing. Around 2,000 patients per year will be treated at Zhuozhou, which will be one of the biggest proton centers in the world. The center will be equipped with IBA’s Proteus®PLUS multi-room system; the setup includes five treatment rooms, four isocentric-gantry treatment rooms and a fixed-beam treatment room.

    The RayStation order, comprising eight clinical licenses, covers a range of advanced functionality, such as Monte Carlo dose calculation, robust optimization, proton PBS and DS planning, and fallback planning. Additional planning features for photon therapy will be included, such as 3D-CRT, IMRT, VMAT photon planning, and the system will also be used as a platform for research. Deployment of the treatment planning system is set to begin from August and clinical use will commence subject to regulatory clearance. 

    Olivier Legrain, CEO of IBA, says: “Our collaboration with RaySearch has enabled us to deliver a comprehensive solution that will give patients in Zhuozhou and the surrounding area access to the most advanced radiation therapy treatment available. IBA Proton Therapy systems, combined with RayStation, offer advanced functionality and unmatched usability to extend treatment possibilities.”

    Johan Löf, CEO of RaySearch, says: “It is very exciting to be part of this project to establish the first large proton center in a hospital environment in China. Proton therapy is taking off in China, and we aim to be at the forefront of developments. Together with IBA, we are able to deliver a complete platform that will optimize workflows and enable precise and personalized treatment.”

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    Share conversion in RaySearch Laboratories AB (publ)

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    In April 2017, 40,000 Class A shares were converted to Class B shares, at the request of a shareholder.
    The total number of votes in RaySearch thereafter amounts to 112,177,548 votes. The total number of registered shares in RaySearch amounts to 34,282,773 shares, out of which 8,654,975 are Class A shares and 25,627,798 are Class B shares.

    According to RaySearch Laboratories AB’s (publ) Articles of Association, owners of Class A shares have the right to have such shares converted to Class B shares. A conversion reduces the number of votes in the company. When a conversion has been carried out, RaySearch is obligated by law to disclose information on the changes occurred by the conversion.

    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, President and CEO, RaySearch Laboratories AB (publ)
    Telephone: +46 (0)8-510 530 00
    johan.lof@raysearchlabs.com

    RaySearch discloses the information provided herein pursuant to the EU’s Market Abuse Regulation and the Securities Market Act.

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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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