ViewRay Sells Device to Stanford Health

ViewRay, Inc. (NASDAQ:VRAY) shares gained ground Friday on a collaboration agreement with Stanford Health Care.

Stanford Health, based in the university city of Stanford, Calif., is acquiring ViewRay’s renowed devices known as a MRIdian, the world's leading MR-guided radiation therapy system.

ViewRay designs, manufactures, and markets the MRIdian® radiation therapy system. MRIdian is built upon a proprietary high-definition MR imaging system designed from the ground up to address the unique challenges and clinical workflow for advanced radiation oncology.

MRIdian integrates MRI technology, radiation delivery, and proprietary software to locate, target, and track soft-tissue and tumors.

"These capabilities," according to Friday’s news release, "allow MRIdian to deliver accurate doses of radiation to the tumor while protecting nearby healthy tissues and vulnerable structures, enabling personalized, non-invasive treatment. The use of MRIdian is associated with improved patient outcomes, shorter treatment durations, and reduced treatment-related side effects."

Stanford is known the world over for its expertise in cancer treatment and translating important medical breakthroughs into patient care. As a leading academic medical center, Stanford Health Care provides state-of-the-art technologies and treatments to help advance care and improve outcomes for patients.

Said ViewRay Chief Commercial Officer Jim Alecxih, "We are proud to announce our strategic agreement with Stanford Health Care.

"We will bring the benefits of the MRIdian system to one of the most innovative centers in the world. We look forward to the impact that MRIdian will make in improving the lives of cancer patients."

Shares picked up 14 cents, or 3.6%, to $4.01, in Friday’s first hour of trade.