Affärsstrategerna invest in Venture Cup prizewinner.
1/12/2000 6:00 AM EST
October 12, 2000
Affärsstrategerna invest SEK 6m in RaySearch Laboratories AB, whose
business idea came in third in this year's Venture Cup in Sweden.
RaySearch has developed an optimization code (ORBIT), which considerably
improves radiation therapy for cancer. ORBIT is unique because it
customizes a radiation treatment plan for each patient. At the same
time, ORBIT finds the optimal radiation intensity and beam directions to
fit each patient's needs. This method treats the tumor more effectively
while minimizing complications.
ORBIT has been under development as a research project at Karolinska
Institutet for many years. The research team and founders of the company
include Johan Löf, PhD candidate in Medical Radiation Physics, Professor
Anders Brahme, Bengt K Lind (PhD) and Anders Liander (MSc). Chairman of
RaySearch is Erik Hedlund, President and CEO of Scanditronix Medical AB.
Erik has extensive experience in leading positions for several life-
science companies.
RaySearch already has a global license agreement with ADAC Laboratories
Inc, a company that controls about 25% of the global market for advanced
radiation therapy planning systems. ORBIT will be sold as a plugin
module for ADAC's system. The potential market for ORBIT amounts to more
than USD 100m. Please see the press release from ADAC at
www.adaclabs.com.
"Affärsstrategerna is a talented partner with a track record of creating
successful companies in the life-science sector," says Johan Löf,
founder and CEO of RaySearch.
"Customized radiation treatment will set a new standard that patients
will demand," says Claes-Göran Fridh, President and founder of
Affärsstrategerna.
Affärsstrategerna's SEK 6m investment in RaySearch represents 25% of
share capital, 10% of which will be used for an employee stock option
program.
For further information, please contact:
Yvonne Petersson, Business Developer, Affärsstrategerna
Telephone +46-8-545 831 92 or e-mail:
Per Ersson, Investment Manager, Affärsstrategerna
Telephone: +46-8-545 831 94 or e-mail:
Johan Löf, founder and CEO, RaySearch Laboratories AB
Telephone +46-706-83 79 35 or e-mail: