Israel based medical technology company HIL Applied Medical has acquired laser-based cancer therapy components developer, Nanolabz, a part of the University of Nevada, to assist in developing new cancer proton therapy systems.
University of Nevada enterprise and innovation associate vice-president Dr Ellen Purpus, who had assisted in drafting the license agreement stated that the acquisition will help in validating the research, innovation and commercialisation at the University.
HIL CEO Sagi Brink-Danan said: "Today’s announcement is an important step towards the developing of our advanced cancer therapy systems.
"Still this is only one step in a long process, and we look forward to expanding the collaboration with the University of Nevada, Reno and the Nanolabz team."
The proton therapy involves the exposiing of cancerous tumours to a form of focused radiation, two to six times less damage is caused to the surrounding healthy tissues subsequently reducing toxicity.
It is an advanced radiation form of the conventional radiation therapies and improves the quality of the patient’s life.
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Cleared by the US Food and Drug Administration (FDA) and covered by both federal and private insurers, the proton therapy is administered to treat a range of cancers on a regular basis.
However, a rapid adoption of the proton therapy is hindered by the lack of appropriate infrastructure in hospital facilities. The therapy requires a huge space as large as that of a football field entailing high-costs.
Vendors are being introduced to a single-room solution at a lower cost.
Image: Nanolabz co-founder and president Grant Korgan. Photo: courtesy of PR Newswire Association LLC.