Accuray Awarded $1 Million Grant by U.S. Government
SUNNYVALE, Calif., Oct. 5 /PRNewswire/ -- Accuray  Incorporated (Nasdaq: ARAY ), a global leader in the field of radiosurgery, announced today that the company was awarded a $1 million Small Business Innovation Research (SBIR) grant by the U.S. Government to be used toward further development of a high-energy X-ray source for Homeland Security applications.
The grant will fund the development of a next generation, compact X-ray source with unprecedented capabilities bundled with a high-energy linear accelerator. Phase one of the project, which was also funded by an earlier SBIR grant, was completed in June 2010 and included the analysis and design of the major subsystems for the prototype. Phase two will consist of the development of the prototype that is intended to be used as a critical part of cargo scanning systems by the Department of Homeland Security.
"We are proud to be recognized by the U.S. Government for our commitment to innovation. While we focus on further advancing our core product offering, the CyberKnife Robotic Radiosurgery System, we're pleased to be able to conduct innovative research and development stimulated by the government in anticipation of their future technology needs," said Chris A. Raanes, senior vice president and chief operating officer for Accuray. "As a leader in advanced linear accelerator technology, it's great to see how our proven technology, used to treat cancer, can also be applicable and equally as effective for other important applications."
Accuray's technology is ideal for mobile applications because of its lightweight and compact design, which sets the company's technology apart from others. The project, which will begin this month, is expected to be completed within the next two years.
About the CyberKnife® Robotic Radiosurgery System
The CyberKnife Ro