Elekta expands market and treatment application of brachytherapy with acquisition of iCAD, Inc.’s Xoft business
Clinics and cancer patients to benefit through access to wider range of precise and effective brachytherapy cancer treatment
STOCKHOLM – Elekta (EKTA-B.ST) announced today it has acquired the Xoft business from iCAD, Inc. (NASDAQ: ICAD) through an asset acquisition. By acquiring the Xoft Axxent Electronic Brachytherapy (eBx) System, together with the transfer of employees, Elekta, the world leader in brachytherapy solutions, will now be able to offer electronic brachytherapy technology and provide an expanded range of cancer treatment options.
Xoft's unique technology, which uses a miniaturized low energy X-ray source instead of a radioactive isotope, can be used in a variety of clinical settings with minimal shielding. Today, it is used primarily for intraoperative treatment of breast cancer, non-melanoma skin cancer, gynecological cancers and additional clinical indications are being developed.
John Lapré, President Brachy and Neuro Solutions at Elekta, said: “Bringing Xoft’s technology into our portfolio offers exciting prospects to grow the adoption of brachytherapy and provide greater access to patients eligible for this treatment. We will be able to provide a wider range of radiation therapy options that are tailored to the specific needs and preferences of the clinics we support, while helping to reduce their operational costs – since no extensive shielding is needed – and minimize their logistical challenges such as importing radioactive material.”
The Xoft System has an installed base of more than 100 systems, compared with 1,900 Elekta Flexitron afterloaders. Elekta solutions are used in more than 120 countries and through its global network, the Xoft technology will now be able to reach more patients in need of personalized, precision radiation therapy.
The intention is to complete the transaction during the second quarter of Elekta’s fiscal year 2023/24.
The Xoft System is FDA-cleared and CE-marked for the treatment of cancer anywhere in the body using a miniaturized X-ray source to deliver a precise, concentrated dose of radiation directly to a tumor site.
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About Elekta
As a leader in precision radiation therapy, Elekta is committed to ensuring every patient has access to the best cancer care possible. We openly collaborate with customers to advance sustainable, outcome-driven and cost-efficient solutions to meet evolving patient needs, improve lives and bring hope to everyone dealing with cancer. To us, it's personal, and our global team of 4,500 employees combine passion, science, and imagination to profoundly change cancer care. We don’t just build technology, we build hope. Elekta is headquartered in Stockholm, Sweden, with offices in more than 40 countries and listed on Nasdaq Stockholm. For more information, visit elekta.com or follow @Elekta on “X”, formerly known as Twitter.