Healthcare Industry News: Xoft Axxent
News Release - January 29, 2008
Xoft Signs Sales Development Agreement With ElektaFREMONT, Calif., Jan. 29 (HSMN NewsFeed) -- Xoft, Inc., developer of the Axxent® Electronic Brachytherapy System, and Elekta, a global leader in radiation oncology and non-invasive neurosurgery solutions, announced that the companies have signed a sales development agreement.
Under the agreement, Elekta will share identified sales opportunities for the Xoft Axxent Electronic Brachytherapy in the radiation oncology market. This non-exclusive agreement allows Elekta to expand its revenue to include procedures performed outside shielded rooms by partially sharing in revenues Xoft receives from the sale of the Electronic Brachytherapy controller. Additionally, the companies will explore other areas of collaboration, which could include international sales and joint development agreements.
"We are pleased to enter a sales and marketing agreement with Elekta, a recognized leader and technology innovator in radiation oncology," said Michael Klein, president and CEO of Xoft. "This represents a true win-win situation for both companies: The Axxent Electronic Brachytherapy System rounds out Elekta's product offering with an innovative new method of delivering partial breast irradiation in minimally shielded rooms, giving sites the ability to maximize availability of their vaults for procedures that can only be performed in shielded rooms. For Xoft, Elekta's strong radiation oncology presence and market share offers tremendous visibility and the ability to dramatically expand access to this important new treatment option.
"Xoft's expansion into new treatment areas, which are pending FDA clearance, will extend the use of the electronic brachytherapy to endometrial and rectal indications and therefore allow for broader sales opportunities working with Elekta."
Designed to deliver localized non-radioactive radiation treatment directly to cancer sites, the proprietary Axxent treatment platform can be used in virtually any clinical setting under the supervision of a radiation oncologist. Cleared by the U.S. Food & Drug Administration (FDA) for the treatment of early stage breast cancer, the Axxent System is designed to deliver therapy directly to cancer sites with minimal radiation exposure to surrounding healthy tissue. Eliminating the need for heavily shielded environments, it gives radiation oncologists the flexibility to deliver therapy in a broader range of clinical settings. As a result, tens of thousands of patients will have greater access to therapy that is delivered more easily and conveniently. This may accelerate patient choice of breast sparing lumpectomy surgery with adjuvant radiation therapy over the alternative of a full mastectomy.
"With a long history of innovation in radiation oncology, Elekta is committed to developing and supporting technology that optimizes patient care through faster and more efficient treatment regimens and enables healthcare professionals to spend more time on patient care," said Joseph K. Jachinowski, President and CEO of Elekta North America. "Xoft's Electronic Brachytherapy System is a good example of technology improving care through the use of electronic X-ray-based therapy that can be delivered in a variety of clinical settings. This is a strong complement to Elekta's suite of oncology products designed to make cancer care easier for and more accessible to physicians and patients."
Elekta is an international medical technology group, providing oncologists, radiation therapists, neurosurgeons and many other medical specialists with state of the art tools to fight serious disease. Elekta provides advanced clinical solutions, comprehensive management and information systems as well as services for improved cancer care and management of brain disorders. Elekta's systems and solutions are used in over 4,500 hospitals around the world. Clinical and information management solutions include, among others, Leksell Gamma Knife® for non-invasive treatment of brain disorders, Elekta Axesse(TM) and Elekta Synergy® for stereotactic and image guided radiation therapy and radiosurgery as well as the MOSAIQ(TM) suite of software for image-enabled EMR and efficient management of clinical and patient data. With over 2,000 employees globally, the corporate headquarter is located in Stockholm, Sweden and the company is listed on the Nordic Exchange under the ticker EKTAb. More information about Elekta can be found at http://www.elekta.com.
About Xoft, Inc.
Xoft is developing leading-edge new technologies for the practice of radiation oncology through Electronic Brachytherapy, which utilizes proprietary miniaturized x-ray tube technology. The Axxent® Electronic Brachytherapy System, Xoft's first treatment system, is currently being used in Accelerated Partial Breast Irradiation (APBI) for the treatment of early-stage breast cancer. This solution provides a therapeutic dose of intracavitary radiation directly to the region at risk without the complex handling and resource logistics necessary when performing brachytherapy using radioactive isotopes.
Axxent is a registered trademark of Xoft, Inc.
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