STOCKHOLM, Sweden, June 28, 2005 (PRIMEZONE) -- It has come to the attention of RaySearch Laboratories AB (publ) (RaySearch) that the company RayClinic AB (publ) (RayClinic) recently has promoted, through advertisements in the media, a new issue of shares directed to the public. In view of the similarity of the names of the two companies and that both companies are active in one way or another in the field of radiation therapy for cancer, RaySearch wishes to make it clear that there is no organizational connection whatsoever between the companies, and that there is no co-operation between the companies either.
On the contrary, RaySearch has on numerous occasions declared to RayClinic its strong discontent with RayClinic's business name, secondary names etc., and demanded that RayClinic discontinue the use of the Ray prefix. This fact does not seem to have been mentioned in RayClinic's prospectus for the new issue of shares. RaySearch is considering taking legal action against RayClinic.
With regard to RayClinic's prospectus RaySearch would also like to point out the following. There are a number of references in the prospectus to the fact that intensity modulated radiation therapy (IMRT) has its origin in research at Karolinska Institutet (KI). Furthermore it is stated that KI leads the development of IMRT. It is correct that the research on IMRT originated at KI but RaySearch wishes to underline that the efforts by RaySearch over the last few years have in a significant way contributed, and are still contributing, to the development in this field.
"It is deplorable that others try to take advantage of RaySearch's good reputation by using a name so similar to ours," says RaySearch President Johan Lof, and adds, "There is an obvious risk that the market and the public mix up the companies or believe that they are part of the same group but, as stated, they are not. I have asked our lawyers to examine this."
About RaySearch
RaySearch develops and sells software for radiation therapy of cancer. The products are specially developed to optimize radiation therapy and the purpose is to adapt the radiation dose to the shape of the tumor, which allows high doses to be delivered to the tumor while minimizing the dose to surrounding healthy tissue.
RaySearch, a spin-off from Karolinska Institutet, was formed in 2000. RaySearch has sold its product, RayOptimizer, to more than 800 hospitals around the world through a licensing agreement with Philips, enabling tens of thousands of patients to receive improved radiation therapy.
RaySearch was listed on the Stockholm Stock Exchange O-list in November 2003. Sales of the products RayBiology and RayMachine began in 2004 and the partnership with Philips continues. RaySearch signed a licensing agreement with Nucletron in January 2004. The latter agreement made RaySearch's products available to a large number of new clinics worldwide and, consequently, increased the number of potential customers sharply. Delivery to clinics of the first product based on the partnership with Nucletron, OM-Optimizer, began in April 2005. RaySearch is based in Stockholm and currently has 28 employees. Company website: www.raysearchlabs.com
For further information, please contact:
Johan Lof President and CEO, RaySearch Laboratories AB Tel: +46 (0)8 -- 545 061 30 johan.lof@raysearchlabs.com
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