The China Food and Drug Administration has approved the sale of C-RAD’s Cyrpa laser systems on the strategically important Chinese market.
These systems are already installed in all three sales regions – Asia, North America and Europe – and after making a strong presence at medical trade fairs, China has now given the green light for filling orders that were waiting for CFDA registration to fall into place. The product line has already been cleared for sales in Europe and the USA as well as several other markets in Asia.
The Cyrpa laser products support virtual simulation in a multi-modality imaging environment such as CT, MR and PET-CT but also patient positioning in photon, proton and heavy ion treatment rooms.
C-RAD’s products were presented at the China Society for Radiation Oncology (CSTRO) conference in October in Chengdu, China, generating a great deal of interest. User meetings were held before the conference to present C-RAD and demonstrating the clinical potential of the entire product range. C-RAD is working in China with direct sales and a distributor, Beijing HGPT Technology & Trade Co. The efforts have resulted in an order backlog that was pending the granting of registration. An order worth approximately SEK 2 million was received from the Chinese distributor after the license was granted.
The total market for laser systems with advanced imaging in China is around 100 systems a year, and C-RAD is aiming to achieve a 30% market share in 2017. C-RAD has also applied to the CFDA for approval of its Catalyst systems; this process is still ongoing, and a certification is expected to be granted soon.
“After demonstrating our products in China, it’s an enormous boost to obtain the CFDA certification,” says Tim Thurn, C-RAD’s CEO. “Our good cooperation with our distributor has led to opening up the full potential of the Chinese market, putting us in a position for rapid growth. It also allows us to further exploit our Cyrpa strategy, since the synergies from offering a complete portfolio strengthen our position in customer negotiations.”
Cyrpa ’ s HIT (High Impact Technology) laser systems are used for patient positioning during virtual simulation and radiotherapy treatment. HIT systems include two major innovations: double-diode for each laser line, and the SmartPhantom, which allows high precision automatic calibration of the laser system in the CT room. Cyrpa is the only positioning laser manufacturer that guarantees an accuracy of 0.1mm.
In July 2015 Cyrpa became a wholly owned subsidiary of C-RAD AB.
About C-RAD
C-RAD develops innovative solutions for use in advanced radiation therapy. The C-RAD group offers products and solutions for patient positioning, tumor localization and radiation treatment systems. End users are radiation therapy clinics worldwide. All product development is conducted in three fully owned subsidiaries: C-RAD Positioning AB, C-RAD Imaging AB and C-RAD Innovation AB, all of which are located in Uppsala, Sweden. Employees currently number 40. C-RAD ’ s business originates from research and development at Karolinska Institutet in Solna, Sweden. Sales of the company ’ s first product, the C-RAD Sentinel TM , started in 2007. Cooperation agreements have been signed with Elekta (Sweden), Varian (USA) and IBA (Belgium). C-RAD is represented by distributors specialized in radiation therapy on major markets. C-RAD has established three companies for direct sales: C-RAD Inc. in the US, C-RAD GmbH in Germany and C-RAD WOFE in China. Cyrpa International SPRL, a Franco-Belgian laser company, is a wholly owned subsidiary whose operations are being integrated. C-RAD AB is listed on NASDAQ Stockholm.
For more information on C-RAD, please visit www.c-rad.com .
For further information:
Tim Thurn, CEO C-RAD AB, Phone +46-18-666930, Email investors@c-rad.com
The above information is price-sensitive and must therefore be disclosed under the Securities
