News | September 20, 2011

Varian to Acquire Calypso and its Tumor-Tracking Tools

September 20, 2011 – Varian Medical Systems and Calypso Medical Technologies announced they have signed a definitive agreement under which Varian will acquire Calypso, a privately owned, Seattle-based developer and supplier of specialized products and software for real-time tumor tracking and motion management during radiosurgery and radiotherapy. The acquisition, which is anticipated to close in early October subject to the satisfaction of certain closing conditions, provides that Varian will pay approximately $10 million for Calypso plus potential earnouts based on unit sales of Calypso products achieved beyond thresholds over the next 30 months.

"With Calypso's technology, Varian will be able to offer cancer treatment centers real-time, non-ionizing tumor tracking tools for enhancing the precision of their treatments," said Timothy E. Guertin, president and CEO of Varian Medical Systems. "These products are a perfect complement for Varian's motion management technology, including our TrueBeam platform, respiratory gating and dynamic imaging tools for highly focused radiosurgery. These products should enhance Varian's growth as we integrate them and make them more broadly available to the clinical community through our global marketing and sales channels."

The Calypso System features GPS for the Body technology and Beacon electromagnetic transponders that together provide a solution to continuously and accurately track target location to improve precision of prostate cancer treatments. The transponders are implanted into the prostate or prostatic bed and then tracked with the 4-D localization and tracking system so that beams can be precisely delivered to targeted tumors during radiotherapy and radiosurgery with medical linear accelerators such as Varian's TrueBeam platform.

"The confidence gained from this system supports accelerated, hypofractionated treatments of the prostate where dose escalation requires confirmation of target location at all times," said Guertin. "We believe this technology could support a change in clinical practice to broader acceptance and use of radiosurgery for treating prostate cancer."

The U.S. Food and Drug Administration (FDA) also has granted Calypso investigational device exemption (IDE) approval for its clinical study evaluating real-time tracking of lung cancer tumors during radiation delivery. This study utilizes a proprietary transponder that includes an anchoring feature uniquely designed to lock into lung tissue to support very precise radiosurgery procedures.

"If cleared by regulatory authorities, we are optimistic that this will globally impact the ability to target challenging lung tumors with accuracy and precision required to advance clinical outcomes," said Guertin.

"We are extremely gratified by the confidence and promise of this acquisition by Varian. It provides a tremendous opportunity to leverage our GPS for the Body technology as broadly as possible," said Edward Vertatschitsch, Ph.D., president and CEO of Calypso Medical. "Motion management is critical to accurately targeting the cancer so patients can experience the curative benefits of radiation therapy while protecting adjacent healthy tissue. We believe our real-time tracking capabilities will help to close the gap on this clinical challenge and I look forward to joining the Varian team to advance innovations in these areas."

The Calypso business currently generates more than $15 million in annual revenues from sales and service of its products. Calypso currently has an installed base of more than 110 systems in North America and Europe. The tracking system has been used in the treatment of an estimated 10,000 patients for cancer of the prostate.

It is expected that the Calypso business will be integrated into Varian's Oncology Systems segment and will continue to operate in Seattle. Including transaction and integration costs, Varian anticipates that the Calypso acquisition will be slightly dilutive to earnings per diluted share in fiscal year 2012. The acquisition includes Calypso's intellectual property portfolio with some 90 current or pending patents.

For more information: www.varian.com, www.calypsomedical.com

 

Related Content

Accuray Launches Synchrony Motion Tracking and Correction Technology for Radixact System
Technology | Image Guided Radiation Therapy (IGRT) | April 24, 2019
Accuray announced the launch of its Synchrony motion tracking and correction technology to be used with the Radixact...
New Study Redefines Therapeutic Dose Guidelines for Non-Small Cell Lung Cancer
News | Lung Cancer | April 23, 2019
Non-small cell lung cancer is a common cancer for both men and women. Many people who are diagnosed with this type of...
Comparison of state Medicaid fees for radiation oncology services for breast cancer and nonradiation oncology services per the Kaiser Family Foundation Index

Fig. 1: Comparison of state Medicaid fees for radiation oncology services for breast cancer and nonradiation oncology services per the Kaiser Family Foundation Index. (Agarwal et al, Red Journal, 2019) Credit: Elsevier

News | Radiation Therapy | April 22, 2019
April 22, 2019 — A new study finds wide state
Stereotactic Radiosurgery Effective for Pediatric Arteriovenous Malformation Patients
News | Radiation Therapy | April 19, 2019
Ching-Jen Chen, M.D., of the neurosurgery department at the University of Virginia (UVA) Health System, was the winner...
Surgically Guided Brachytherapy Improves Outcomes for Intracranial Neoplasms
News | Brachytherapy Systems | April 18, 2019
Peter Nakaji, M.D., FAANS, general practice neurosurgeon at Barrow Neurological Institute, presented new research on...
ASTRO Applauds Introduction of PIMA Patient Protection Bill
News | Radiology Business | April 15, 2019
The American Society for Radiation Oncology (ASTRO) hailed the introduction of federal legislation that would...
Varian Discloses First Preclinical Results of Flash Therapy in Cancer Treatment
News | Proton Therapy | April 09, 2019
Varian, in partnership with the University of Maryland School of Medicine’s Department of Radiation Oncology and the...
Varian Halcyon Commissioned at MedStar Southern Maryland Hospital Center With IBA's myQA Halo
News | Quality Assurance (QA) | April 04, 2019
IBA (Ion Beam Applications S.A.) announced the successful commissioning of the Varian Halcyon at the Radiation Oncology...
Four of the top pieces of content in March included news on proton therapy, including a 360 image and videos from ITN's recent visit to the Northwestern Medicine Proton Center in the Chicago suburbs. This image shows the main proton treatment room gantry at the proton center in Warrenville, Ill. Interview with Mark Pankuch, Ph.D.

Four of the top pieces of content in March included news on proton therapy, including a 360 image and videos from ITN's recent visit to the Northwestern Medicine Proton Center in the Chicago suburbs. This image shows the main proton treatment room gantry at the proton center in Warrenville, Ill.
 

Feature | April 02, 2019 | Dave Fornell, Editor and A.J. Connell
April 2, 2019 — Here is the list of the most popular content on the Imaging Technology News (ITN) magazine w