February 14, 2012

Varian books $77m order for proton therapy in Saudi Arabia

Jan 27, 2012

PALO ALTO, CA, 26 January 2012 – Varian Medical Systems (NYSE: VAR) today announced it has booked a $77 million order with Saudi Particle Therapy Centre LLC to equip a new proton therapy facility at the King Fahd Medical Center in Riyadh, Saudi Arabia. Varian will equip the new center with a ProBeam™ system for five treatment rooms as well as two TrueBeam™ medical linear accelerators. Equipment delivery and installation is expected to commence in spring 2013 and patient treatments are scheduled to begin in late 2014. The agreement will also include a multi-year service contract that should commence as the installation is completed.

"We are honored to have been selected to supply our equipment and software for this prestigious new facility, which will make life-saving proton therapy treatments available for the first time to cancer patients in this region," says Tim Guertin, Varian's chief executive officer. "This is an exciting step forward for our Varian Particle Therapy business."

Proton therapy makes it possible to treat certain types of cancer more precisely and with potentially fewer side effects than with conventional radiation therapy. With proton therapy, the risk of damage to healthy tissues is reduced. The method can be applied for many of the most common types of cancer and offers advantages when treating tumors close to radiosensitive tissues. In pediatric patients the risk of developing a new, radiation-induced cancer later in life can be reduced.

"We believe that more and more proton centers will want to employ the full suite of Varian products and technology for radiotherapy and radiosurgery as well as particle therapy for world-class cancer treatments," said Guertin. "The combination of these technologies based on 60 years of innovation puts Varian in a unique position to help advance clinical care for patients around the world."

Varian is currently installing and commissioning its ProBeam system at the Scripps Proton Center near San Diego. The company has also been selected to provide equipment for new proton therapy centers at the University of Maryland and in Mestre, Italy. It has been identified as the preferred provider for a new center at Emory University near Atlanta.

About Varian Medical Systems
Varian Medical Systems, Inc., of Palo Alto, California, is the world's leading manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, and brachytherapy. The company supplies informatics software for managing comprehensive cancer clinics, radiotherapy centers and medical oncology practices. Varian is a premier supplier of tubes and digital detectors for X-ray imaging in medical, scientific, and industrial applications and also supplies X-ray imaging products for cargo screening and industrial inspection. Varian Medical Systems employs approximately 5,700 people who are located at manufacturing sites in North America, Europe, and China and approximately 70 sales and support offices around the world. For more information, visit http://www.varian.com or follow us on Twitter.
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Mevion Medical Systems receives $45 million investment

LITTLETON, MA, 24 January 2012 – Mevion Medical Systems announced today that it has closed a $45 Million investment from ProQuest Investments and its existing investors, including Caxton Heath Life Sciences, Venrock and CHL Medical Partners. Mevion is the manufacturer of the MEVION S250 Proton Therapy System. The capital will be used to accelerate the manufacturing and worldwide deployment of the MEVION S250.

Proton beam radiation therapy permits more precise dose targeting by complete proton absorption at predictable tissue depth, allowing the treatment of target volumes adjacent to critical structures without inadvertent dose to sensitive structures. The availability of proton therapy has remained very limited however, due to the enormous cost, large footprint, and technical complexity of traditional proton systems. Powered by a TriNiobium Core™, the MEVION S250 significantly reduces the cost, size and complexity to levels similar to other modern X-ray radiation therapy devices, and brings accessibility, affordability and practicality to proton therapy.

“We welcome the new endorsement by ProQuest Investments and the continuing support of our existing financial partners”, said Joseph K. Jachinowski, Chief Executive Officer of Mevion Medical Systems. “With delivery of our first system complete and with two additional systems now under installation, this investment will support the growing demand for our innovative technology. We are also pleased to welcome Mr. Jay Moorin of ProQuest Investments onto the Mevion Medical Systems’ Board of Directors,” stated Jachinowski.

The MEVION S250 Proton Therapy System has not yet been cleared by the United States Food and Drug Administration for clinical use.
About ProQuest Investments

ProQuest is a healthcare venture capital firm with offices in Princeton, San Diego and Montreal. ProQuest invests in healthcare companies seeking financings from seed to late-stage. ProQuest’s portfolio reflects the rich diversity of the healthcare industry and exemplifies our commitment to fostering the growth of exceptional businesses. For more information, please visit ProQuest’s website at www.proquestvc.com.
About Venrock

Venrock is a premier venture capital firm with offices in Palo Alto, New York, Cambridge, MA, and Israel. Originally established as the venture capital arm of the Rockefeller family, Venrock continues a seven-decade tradition of partnering with entrepreneurs to establish successful, enduring companies. For more information, please visit Venrock's website at www.venrock.com.
About CHL Medical Partners

CHL Medical Partners is a premier venture capital firm dedicated to partnering with entrepreneurs and inventors to create and finance innovative biotechnology, molecular diagnostic, healthcare service and medical device companies. For more information, visit www.chlmedical.com.
About Mevion Medical Systems

Mevion Medical Systems, Inc. (formerly Still River Systems, Inc.) is a radiation therapy company dedicated to advancing the treatment of cancer. As the pioneering developer of modern proton therapy systems, Mevion provides innovative, safe, and effective solutions by transforming advances in medical technology and science into practical clinical reality.

Mevion’s flagship product, the MEVION S250 Proton Therapy System, is designed to preserve all of the treatment benefits of traditional proton therapy systems while removing the obstacles of size, cost, and complexity. Realizing this vision, Mevion has forever changed the economics and accessibility of proton therapy worldwide.

Founded in 2004, Mevion is a privately held company headquartered in the Boston metropolitan area with international offices in the United Kingdom and Japan.

Visit us at: www.mevion.com
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