Radiotherapy devices maker Varian Medical Systems (NYSE:VAR) announced a collaborative research & development initiative designed to "tap brain power" among Russia’s scientific institutes.
Varian contributed $50,000 to a larger program that will ultimately give out $100,000 in prize money for the team or teams with the best proposals for advancing radiotherapy technology.
"We believe this will yield significant benefits to cancer patients not only in Russia but throughout the world. Russia was the first country to put a man into space and it has a deep, sophisticated technological base in radiation technologies," Varian senior manager of research collaborations Scott Johnson said in prepared remarks. "This is a new type of process for Varian and we are looking forward to supporting forward-thinking, next-generation research that could well be developed and commercialized."
The company identified 5 primary radiotherapy challenges the teams must address with their R&D proposals. The topics include treatment planning solutions, brachytherapy technologies, and designs for low-cost proton accelerators, among others.
The contest will run over the next 6 months and involves the support of the Kremlin’s Skolkovo Foundation, an organization tasked with helping to foster a new technology innovation ecosystem to rival Silicon Valley.
Russia is a high-target emerging market for medical device companies, along with Brazil, India and China.