IBA SA : IBA selected to install new proton therapy center in Italy
IBA selected to install new proton therapy center in Italy
Term sheet signed with the European Institute of Oncology (IEO) to install a Proteus®ONE compact proton therapy solution in Milan
Louvain-La-Neuve, Belgium, 3 May 2018 - IBA (Ion Beam Applications S.A., EURONEXT), the world's leading provider of proton therapy solutions for the treatment of cancer, today announces that after an in-depth selection process, it has been selected as preferred vendor by the European Institute of Oncology (IEO) to install a Proteus®ONE* compact proton therapy solution in Milan, Italy. This will be IBA's 22nd installation of its compact single-room proton therapy solution.
IEO and IBA signed a binding term sheet with a non-refundable down payment for the delivery of a Proteus®ONE solution, including IBA's latest generation Pencil Beam Scanning (PBS), isocenter volumetric imaging (Cone Beam CT) capabilities and a long-term operation and maintenance agreement. The hospital expects to start treating patients by the end of 2020. The typical end-user price for a Proteus®ONE system with a maintenance contract is between EUR 35 and 40 million. IBA and IEO have agreed to work in good faith to complete negotiations of the Final Agreement by year-end.
Olivier Legrain, Chief Executive Officer of IBA, commented: "We are delighted that IBA has been chosen by the European Institute of Oncology to build its proton therapy center which strengthens our world leading position in proton therapy and demonstrates IBA's superior product offering in the market. Our Proteus®ONE solution is a unique truly compact intensity modulated proton therapy (IMPT) system and alongside its open gantry and track record of short installation time is the solution of choice for an increasing number of hospitals in all regions of the world. We look forward to collaborating with IEO to provide greater access to proton therapy for cancer patients in Italy."
Mr Mauro Melis, Chief Executive Officer of IEO, commented: "The European Institute of Oncology is today a reference point in research and cancer care, both at the national and European level. The IEO Advanced Radiotherapy Center in particular is ranked amongst the top five centers in Europe for technology equipment and number of patients treated. With the new Proton Center we will contribute to the development of international clinical studies on the clinical use of proton therapy, and at the same time we will expand our state-of-the-art offering of cancer therapies. It is therefore important for us to partner with IBA to bring the world's leading proton beam therapy equipment to more cancer patients in Italy."
Prof. Roberto Orecchia, Scientific Director of IEO, said: "Proton therapy is a superior form of radiotherapy and nowadays represents a new and better chance of treatment for many cancer forms in children and adults. However, there is still a lot we have to discover about proton therapy. An important value of entering into a partnership with IBA is to become part of its impressive proton therapy user community and to participate in its research collaborations. We are convinced that proton therapy will gain importance in the fight against cancer. Worldwide estimates indicate that 20% of cancer patients could benefit from this treatment, whereas today only 0.8 % of radiotherapy patients receive proton therapy."
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About Proteus®ONE
Proteus®ONE is the compact intensity modulated proton therapy (IMPT) solution from IBA. It benefits from the latest technologies developed with renowned clinical institutions. Proteus®ONE is smaller, more affordable, easier to install and to operate. It is ultimately easier to finance, making this advanced radiation therapy modality available to more institutions and patients worldwide. Proteus®ONE makes proton therapy easy.
* Proteus®ONE is the brand name of Proteus®235
About IBA
IBA (Ion Beam Applications S.A.) is a global medical technology company focused on bringing integrated and innovative solutions for the diagnosis and treatment of cancer. The company is the worldwide technology leader in the field of proton therapy, considered to be the most advanced form of radiation therapy available today. IBA's proton therapy solutions are flexible and adaptable, allowing customers to choose from universal full-scale proton therapy centers as well as compact, single room solutions. In addition, IBA also has a radiation dosimetry business and develops particle accelerators for the medical world and industry. Headquartered in Belgium and employing about 1,500 people worldwide, IBA has installed systems across the world.
IBA is listed on the pan-European stock exchange NYSE EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB).
More information can be found at: www.iba-worldwide.com
About IEO (European Institute of Oncology)
The European Institute of Oncology (Istituto Europeo di Oncologia - IEO) strives for excellence in cancer prevention, early diagnosis and effective treatment. We aim to achieve this through clinical and scientific research development, organisational and management innovation, with a constant focus on the quality of the service provided to the patients.
The IEO staff are driven and inspired by the following values and principles:
- Patient focus
- Continuous healthcare quality improvement
- Service excellence
- Multidisciplinary approach to clinical care
- Participation in trial research and rapid transfer of results to the patients
- Enhancing the value of human resources
- European spirit and openness to international collaborations
More information can be found at: https://www.ieo.it/en/
For further information, please contact:
IBA
Soumya Chandramouli
Chief Financial Officer
+32 10 475 890
Investorrelations@iba-group.com
Thomas Ralet
Vice-President Corporate Communication
+32 10 475 890
communication@iba-group.com
For media and investor enquiries:
Consilium Strategic Communications
Amber Fennell, Matthew Neal, Ivar Milligan
+44 (0) 20 3709 5700
IBA@consilium-comms.com
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