CyberKnife Technology May Provide Non-invasive Means for Cardiac Ablation
Accuray Enters Licensing Agreement with CyberHeart Incorporated
SUNNYVALE, Calif., April 30 /PRNewswire-FirstCall/ -- Accuray Incorporated (Nasdaq: ARAY), a global leader in the field of radiosurgery, announced today that it has entered into an agreement with CyberHeart Incorporated under which CyberHeart will use Accuray's technology to develop a non-invasive method for performing cardiac ablation. Cardiac ablation is used to destroy a small portion of the heart that is causing abnormal rhythms. Ultimately, the developed technology may have applications in the treatment of atrial fibrillation, a disorder that prevents the heart from beating properly and can cause blood clots and strokes.
Currently cardiac ablation is done during open-heart surgery or as a catheter based procedure in which a catheter is inserted into a blood vessel up to the heart and radiofrequency energy is delivered. Cardiac ablation is most often used to create a lesion that that interferes with abnormal cardiac conduction, with the objective of treating cardiac arrhythmias.
CyberHeart is exploring the use of Accuray's CyberKnife(R) Robotic Radiosurgery System to generate these lesions non-invasively. The CyberKnife System's intelligent robotics, accuracy and unique tracking capabilities will be used to target the heart's affected tissue and create an ablation lesion.
"The heart is not an organ that is typically treated with radiation. However CyberHeart believes that by using highly accurate radiosurgery technology, we can effectively ablate cardiac tissue and potentially create a lesion that can block abnormal cardiac rhythm," said Patrick Maguire, M.D., Ph.D., president and CEO of CyberHeart. "Accuray's CyberKnife System is the only technology available today that offers the precision needed to ensure only very specific regions of the heart are treated. We expect to begin initial clinical trials in 12 to 18 months and it is our objective to bring the product to market in the next three to four years."
CyberHeart has received commitments for independent venture capital financing to fund technical and clinical research and development of a cardiac ablation system that incorporates Accuray's technology. In the event CyberHeart is able to successfully develop and commercialize such a system, under Accuray's agreement with CyberHeart, Accuray will be the sole supplier of radiosurgery equipment to CyberHeart and will also be entitled to receive specified payments based on usage of the CyberHeart system.
"Accuray's unique CyberKnife technology offers an innovative approach to treating tumors anywhere in the body with radiosurgery," said Euan S. Thomson, Ph.D., president and CEO of Accuray. "By working with CyberHeart, we may be able to facilitate the development of new applications for the use of our radiosurgery technology to treat other types of medical conditions that affect millions worldwide."
About the CyberKnife(R) Robotic Radiosurgery System
The CyberKnife System represents the next generation of radiosurgery systems, combining continuous image-guidance technology with a compact linear accelerator that has the flexibility to move in three dimensions according to the treatment plan. This combination, which is referred to as intelligent robotics, extends the benefits of radiosurgery to the treatment of tumors anywhere in the body. The CyberKnife System autonomously tracks, detects and corrects for tumor and patient movement in real-time during the procedure, enabling delivery of precise, high dose radiation typically with sub- millimeter accuracy.
Accuray Incorporated, based in Sunnyvale, Calif., is a global leader in the field of radiosurgery. Its CyberKnife System is the world's first and only commercially available intelligent robotic radiosurgery system designed to treat tumors anywhere in the body, typically with sub-millimeter accuracy. To date, it is estimated that the CyberKnife System has treated more than 20,000 patients worldwide. For more information, please visit www.accuray.com.
CyberHeart Incorporated (www.cyberheartinc.com), based in Menlo Park, Calif., is a developmental stage medical device company focused on the use of radiosurgery for cardiac applications. Its proprietary technology will be the first and only non-invasive system to be developed for use in cardiac ablation. The company was founded in 2005 by Thomas Fogarty, M.D., and Rod Young.
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The foregoing may contain certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with the medical device industry. Except for the historical information contained herein, the matters set forth in this press release concerning clinical studies, regulatory review and approval, development and commercialization of products are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward- looking statements speak only as of the date the statements are made and are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events. You should not put undue reliance on any forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in detail under the heading 'Risk Factors' in Accuray's most recent Form 10-Q filed on March 15, 2007 and may be updated from time to time by other Accuray filings with the Securities and Exchange Commission. Accuray's actual results of operations may differ significantly from those contemplated by such forward-looking statements as a result of these and other factors. Accuray assumes no obligation to update forward- looking statements to reflect actual performance or results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws.
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