BOSTON & LJUBLJANA, Slovenia--(BUSINESS WIRE)--Neutron Therapeutics, a targeted radiation therapy company developing a comprehensive solution for Boron Neutron Capture Therapy (BNCT), and Cosylab, the world’s leading provider of control systems for the planet’s most complex machines, today announced the close of a strategic collaboration and investment agreement to incorporate Cosylab’s OncologyOne radiation therapy product suite into Neutron’s nuBeam® BNCT systems at hospitals around the world.
“We are very pleased to announce this strategic collaboration with Cosylab, whose expertise in software development, engineering, and radiation therapy will be invaluable as Neutron continues to make advancements in its BNCT technologies,” said Liz Reczek, CEO of Neutron. “Through our collaboration with Cosylab, Neutron is ideally positioned to maximize the potential of BNCT and its impact on patients.”
The deal, valued at up to $25M USD, gives Cosylab equity shares in Neutron Therapeutics in exchange for cash, software development expertise and other in-kind investment. The companies will collaborate to bundle OncologyOne with nuBeam® Systems worldwide.
“Neutron’s work to expand the reach and potential of BNCT is aligned with Cosylab’s dedication to improving radiation therapy at the highest level and providing advanced cancer care to patients,” said Mark Pleško, CEO of Cosylab. “We believe that, in sharing our software expertise, we can immensely improve the utility and capability of this novel therapeutic approach.”
BNCT targets cancer at the cellular level through selective targeting of tumor cells with a boron containing drug, followed by activation of the drug by a neutron beam. This approach has been shown to selectively destroy tumor cells, including nearby metastases, while sparing adjacent healthy tissue. BCNT offers enhanced efficacy with reduced side effects compared to standard radiotherapy for improved quality of life in patients.
The nuBeam® neutron source is not approved for commercial or clinical use by the FDA, PMDA, EMA or other regulatory body.
About Neutron Therapeutics
Neutron Therapeutics, Inc., headquartered just outside of Boston, MA, USA, is a targeted radiation therapy company developing a comprehensive solution for BNCT. The company was founded in 2015, with a mission of applying high-power proton accelerator technology to the challenge of practical, in-hospital neutron beam generation for BNCT. www.neutrontherapeutics.com
Cosylab, founded in 2001 and headquartered in Ljubljana, Slovenia (EU), is a global technology company developing state-of-the-art control systems for the world’s largest scientific projects and innovative software solutions for radiation therapy. By making radiation therapy safer, effective and affordable, we enable our partners to deliver better healthcare worldwide. www.cosylab.com