P-Cure, which has developed a new method of proton radiation for treatment of cancer, has announced that its first system has been installed in the Northwestern University Feinberg School of Medicine in Chicago. P-Cure received marketing approval for its products a few months ago, and this will be the company's first officially installed system. P-Cure's systems usually cost several million dollars for installation and operation, compared with tens of millions of dollars for an ordinary proton radiation system.
Northwestern University Medical School did not invest the full amount, because it used elements of its existing systems to install the new system. It is nevertheless an investment and commitment on the university's part, indicating its confidence in the product.
Clinical trials of the product for marketing purposes and obtaining insurance reimbursement will begin after it is installed.
The product will be used to treat patients with cancer of the lung, head, and neck. Proton radiation facilitates more effective and focused treatment than ordinary radiation. In addition to saving money, P-Cure's technology accommodates proton treatment with the patient in sitting position, instead of lying down, and is therefore more comfortable and involves less movement (movement can detract from the accuracy of the radiation) and less radiation of sensitive organs.
P-Cure was founded by CEO Michael Marash, a Weizmann Institute doctor of cell biology and a former executive in Vecta. Founded in the Targetech Innovation Center incubator, P-Cure has raised $10 million to date, mostly from foreign funds Everett Partners and Lions Peak. The company will soon begin another financing round, slated for completion in early 2017.
Published by Globes [online], Israel business news - www.globes-online.com - on December 15, 2016
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