ViewRay (VRAY) Approved to Market MRIdian System in Japan

August 15, 2016 8:36 AM EDT

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ViewRay, Inc. (Nasdaq: VRAY) announced that the company received Shonin approval from the Japanese Ministry of Health, Labor and Welfare (MHLW) to market the MRIdian System.

MRIdian is the world's first and only clinical MRI-guided radiation therapy system. The MRIdian system is a unique medical instrument that integrates full-time MR imaging, cobalt radiation delivery, and intelligent software automation. Using the MRIdian system, clinicians can see soft tissue, and visualize and adjust the dose — all in real time, on live anatomy. With MRIdian this is done without exposing the patient to the additional ionizing radiation that is common with other imaging modalities.

Japan is the world's third largest market for radiation oncology, and this approval represents a significant step in ViewRay's geographic expansion. ViewRay is represented in Japan by ITOCHU Corporation, one of the three largest general trading companies in Japan. ITOCHU has been focusing on the healthcare business to promote important medical innovations in Japan for approximately 40 years.

"Together with our partner ITOCHU Corporation, we are pleased to be able to bring the advantages of MRI-guided radiation treatment to cancer patients in Japan," said Chris A. Raanes, President and Chief Executive Officer of ViewRay. "Not only is Japan a large market, its radiation oncologists have traditionally been early adopters of advanced medical technologies. We expect the MRIdian system to be well received and for patients throughout Japan to benefit from more precise, personalized radiation treatment."

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