RaySearch acquires the product DrugLog from Pharmacolog for chemotherapy quality assurance
RaySearch (publ) announces today the acquisition of the product DrugLog™ ? from Pharmacolog AB. DrugLog is a cost-effective solution for verifying the identity and concentration of compounded injectable medications, used for cancer treatment with cytostatic drugs (chemotherapy)
STOCKHOLM, Feb. 9, 2024 /PRNewswire/ -- Through this agreement, RaySearch acquires full ownership of all rights to the product DrugLog for its application in the field of oncology, including the measuring device, calibration parameters, source code, as well as intellectual property rights. The purchase price for the asset acquisition amounts to SEK 7 million.
Johan Löf, founder and CEO, RaySearch: "We are excited to welcome DrugLog to RaySearch's product portfolio. Since its inception, RaySearch has focused on software for optimizing and planning radiation therapy. However, the long-term vision is to provide software support for all types of cancer treatments, including chemotherapy and surgery. As a first step, we intend to add support for treatment planning in RayStation and workflows in RayCare for chemotherapy management. We anticipate that these extensions will be launched by 2026 at the latest. DrugLog will be an excellent complement to this and significantly improve and simplify quality assurance in cancer treatment with chemotherapy. We look forward to integrating DrugLog into our offering and continuing to deliver innovative solutions to cancer centers worldwide."
DrugLog is renowned for its quick, reliable and easy-to-use measuring device that in a matter of seconds verifies that the cytostatic compound contains the right drug at the right concentration. By incorporating DrugLog into the product offering and with RaySearch's expertise in treatment planning, and global customer base and sales organization, the acquisition will strengthen RaySearch's position and create opportunities to further improve the care of cancer patients worldwide.
Lars Gusch, CEO of Pharmacolog comments: "During the fall and winter, the Board of Directors and management have worked intensively to implement a sale of all or parts of the business in order to strengthen the company's financial position and preserve shareholder value. A significant milestone has been achieved with this asset deal and I am very pleased to have found a reliable and competent partner in RaySearch who wants to continue our DrugLog product line. My colleagues and I look forward to continuing this work as RaySearch employees."
Further information regarding the acquisition and integration of DrugLog will be communicated to customers, partners, and stakeholders in the future.
For more information, please contact:
Johan Löf, founder and CEO, RaySearch Laboratories AB (publ)
Telephone: +46 (0) 8 510 530 00
The following files are available for download:
RaySearch Press Release February 9, 2024
SOURCE RaySearch Laboratories
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