ViewRay (NASDAQ:VRAY) is up 37% after hours on the heels of its non-binding memorandum of understanding (MOU) with Elekta AB (OTCPK:EKTAF) for a collaboration aimed at advancing the knowledge and use of MR-guided radiation therapy. The partnership includes an investment by Elekta representing a 9.9% stake in ViewRay.
It has also signed a non-binding MOU with Medtronic (NYSE:MDT) for a clinical collaboration aimed at exploring the benefits of the MRIdian MR-guided radiation therapy system. Medtronic has agreed to take a minority stake in ViewRay.
Both investments are contingent on ViewRay raising at least $75M in new capital. A public offering has been launched.
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