RENO, Nev., May 26, 2016 /PRNewswire/ -- HIL Applied Medical
Ltd, an Israeli Medical technology firm, has just announced the
acquisition of Nanolabz, Inc, a Reno,
Nevada startup company born out of University of Nevada, Reno research and focused on
developing laser-based cancer therapy components. HIL Applied
Medical is developing a new class of ultra-compact,
high-performance cancer Proton Therapy systems.
University President Dr. Marc
Johnson stated he is pleased to see this milestone which
highlights the institution's role as an internationally respected,
high-impact research university, fully engaged with Nevada's citizens, communities, and industry
to improve economic and social progress.
Dr. Ellen Purpus, the
University's associate vice president for enterprise &
innovation, who helped craft the corresponding license agreement,
shared that this acquisition is helping support and validate
world-class research, innovation and commercialization at the
University.
"Today's announcement is an important step towards the
developing of our advanced cancer therapy systems," Mr.
Sagi Brink-Danan, Chief Executive
Officer of HIL, said, adding that "still this is only one step in a
long process, and we look forward to expanding the collaboration
with the University of Nevada, Reno and
the Nanolabz team." Nanolabz co-founder Mr. Steven Malekos shared, "The long hours are
paying off. I'm excited to be a part of this growing
partnership."
Here in the Reno/Tahoe area,
this is also quite a comeback for Mr. Grant
Korgan, co-founder and president of Nanolabz. "I'm
thrilled to see us reach this milestone. It is a testament to hard
work, positivity, and the power of the indomitable spirit within
each of us." Mr. Korgan suffered a major setback in his
entrepreneurial career, when in 2010 he burst fractured his L1
vertebrae and has since become a local and global inspiration and
sought after public speaker due in large part to the power of
positivity and his astounding recovery and post-injury
accomplishments.
What is Proton Therapy:
A proton beam is a form of focused radiation used to treat solid
tumors. It is superior to traditional radiation therapy (X-Ray, or
Photons) in that it reduces damage to surrounding healthy tissue by
2X-6X, thereby reducing toxicities and improving patient survival
and quality of life. Proton therapy is used routinely for treating
many types of cancer; it is FDA-cleared (510k) and reimbursed by
both Federal and private insurers.
Proton Therapy's Unmet Need:
Proton beam therapy can help an estimated 300,000 cancer
patients every year in the US – yet last year only 10,000
received it (that's less than 4%). Protons are
arguably the most advanced form of radiation therapy
– yet there are only 19 active proton-therapy centers in
the US today; compare with over 2,700 traditional (X-Ray) radiation
therapy centers. The main barrier to widespread adoption is the
large size (football stadium) and high cost ($150-250M) of building and operating a proton
therapy center. Single-room solutions are slowly being introduced
by some vendors for $30-50M. The key
to making protons available to every patient in every midsize
hospital is a scalable, add-on, single-room solution for half the
current price tag or less. HIL's technological breakthrough
promises to bring about this revolution.
About HIL Applied Medical [ http://hilappliedmedical.com
]:
HIL Applied Medical is developing a new class of ultra-compact,
high-performance proton therapy systems.
We apply a patented approach to particle acceleration and beam
delivery, combining nano-technology with ultra-high-intensity
lasers and ultra-fast magnets. These technological breakthroughs
enable meaningful reduction in the size, complexity and cost of
proton therapy systems, without compromising clinical utility.
Thus HIL aims to enable, for the first time, a single-room
add-on proton therapy solution that is truly
cost-effective.
About Nanolabz [ www.nanolabz.com ]:
Nanolabz, co-founded by Steven
Malekos, Grant Korgan and
Jesse Adams, develops and sells
laser physics targets for the short-pulse laser R&D sector. The
company has created IP and developed laser physics targets and
alignment system technology with the aim to help create a
next-generation, compact, high-performance and reduced-cost proton
source for research and cancer therapy.
About Grant Korgan [
www.choosepositivitynow.com ]:
After sustaining a spinal cord injury that left him paralyzed
from the waist down, world-class adventurer, nanoscientist, and
professional athlete, Grant Korgan –
who had never shied away from a challenge – refused to balk at his
new reality because he still had a mission in store. Ten years
prior, when his best friend and climbing partner passed away in an
avalanche, his parents entrusted Korgan with their son's equipment,
entreating him to continue climbing on life's skinny branches.
Spurred by his commitment to a friend, an overwhelming sense of
self-belief, and armed with the unconditional love and support of
his soul mate and wife Shawna, Korgan decided right from the start
he would overcome. By doing the hard work and tirelessly
visualizing his progression, he found the strength to rise and
reclaim his active lifestyle by becoming the first spinal
cord-injured athlete in history to ski 80 miles to Antarctica's South Pole. Today, he is the
emerging face of spinal cord recovery and heralds his message of
choosing positivity through adversity so that we may all climb a
mountain for someone we love.
About the University of Nevada,
Reno [www.unr.edu]:
Nevada's land-grant university
founded in 1874, the University of Nevada,
Reno ranks in the top tier of best national universities by
U.S. News and World Report and is steadily growing in enrollment,
excellence and reputation. The University serves nearly 21,000
students. Part of the Nevada System of Higher Education, the
University is home to the University of
Nevada School of Medicine, University
of Nevada Cooperative Extension and Wolf Pack Athletics.
Through a commitment to world-improving research, student success
and outreach benefiting the communities and businesses of
Nevada, the University has impact
across the state and around the world. For more information, visit
www.unr.edu.
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SOURCE Nanolabz