Accuray has announced it has agreed to acquire Morphormics, according to a news release.
Accuray, a radiation oncology company, will pay approximately $5.7 million for Morphormics.
Morphormics develops medical imaging software systems that automatically recognize and extract anatomical structures from medical images. It is a privately held company founded by University of North Carolina at Chapel Hill faculty members
Accuray has licensed Morphormics' autocontouring technology since 2008.
"Since our licensing agreement with Morphormics began, we have seen firsthand the benefits the company's technology provides clinicians in improving efficiency, especially in the treatment of prostate cancer, and its potential to improve patient outcomes," said Euan S. Thomson, PhD, Accuray president and CEO, in the release. "The acquisition of Morphormics will expand Accuray's IP portfolio, reduce our licensing expenses and strengthen our engineering team with top talent from the University of North Carolina at Chapel Hill. This strategic acquisition is another important step toward providing leading-edge treatment solutions personalized for each cancer patient."
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