Philips (NYSE:PHG) aligned itself with Israel-based medical device company P-Cure, in order to advance the smaller firm’s proton therapy technology.
P-Cure develops low-cost proton therapy systems, which are smaller, cheaper radiation therapy system for targeting cancerous tumors. Founded in 2007, the company won FDA 510(k) clearance in 2010 for it P-Art system.
The new deal allows P-Cure access to Philips’ CT imaging technology as the companies aim to improve cancer treatment., according to a press release.
“We are proud to be working with Philips Healthcare, a global leader in cancer management, and look forward to provide the next generation proton therapy systems, reducing cost and improving treatment quality and accessibility,” P-Cure CEO Dr. Michael Marash said in prepared remarks.
