SUNNYVALE, Calif., July 23 /PRNewswire/ -- Xoft, Inc. today announced that Frost & Sullivan has bestowed the 2008 North American Medical Devices Healthcare Innovation Award in Oncology to Xoft. Recognizing excellence in the development of the Axxent(R) Electronic Brachytherapy System, the Frost & Sullivan Award highlights Xoft's ability to develop advanced oncology products to fit the growing needs of the medical devices industry.
"Through the creation of innovative and cost-effective solutions, Xoft is positioning itself at the forefront of oncology with a broad-based treatment platform with special emphasis on women's health," said Frost & Sullivan Industry Analyst Sheila Ewing. "Frost & Sullivan believes that the outstanding dedication to product research and development initiatives implemented by Xoft will both rapidly grow the company's market penetration as well as positively impact the quality of healthcare in the U.S. Xoft is poised to continue its growth in the market and gain additional market share in the years ahead."
At the end of 2007, Xoft began commercialization of the Axxent Electronic Brachytherapy System, a suite of innovative devices to deliver targeted radiation therapy directly to tumor sites using a micro-miniature X-ray source rather than radioactive isotopes. The technology allows treatment to be delivered with fewer logistical issues in minimally-shielded clinical settings. It also allows medical personnel to be present during treatment delivery, minimizing patient anxiety. This stands in stark contrast to existing radiation therapy alternatives which require patient isolation in a heavily-shielded vault.
Xoft also recently announced the launch of the EXIBT Study (Electronic Xoft Intersociety Brachytherapy Trial), a national Electronic Brachytherapy patient registry under the oversight of three national physician societies, the American Brachytherapy Society (ABS), the American Society of Breast Surgeons (ASBrS), and the American College of Radiation Oncology (ACRO). With an enrollment goal of 400 patients, the objective of the multi-center study is to assess the long-term effects of the Axxent(R) System for the accelerated treatment of early stage breast cancer patients, bringing treatment time down from 6-8 weeks to 5 days.
"Coming on the heels of the launch of the patient registry, the recent FDA clearance of our applicators for the treatment of endometrial cancer, and expanded FDA clearance for use of the Axxent System in the radiation therapy of other cancers, the Frost & Sullivan Award continues to provide validation of Xoft's broad-based oncology treatment platform," said Michael Klein, president and CEO of Xoft.
"Additionally, the Axxent System aligns well with recent directives from the Federal Government and the Nuclear Regulatory Commission recommendations to the National Academy of Sciences to evaluate appropriate alternative technologies for the replacement of radiation sources that may pose a national security risk. According to the NAS, the majority of these sources are radioactive isotopes used in medical applications. Because the Axxent System uses an electronic source, the technology can mimic the therapeutic value of certain isotopes while mitigating such national security concerns, representing a very viable alternative for some cancers. Recently completed and ongoing clinical studies combined with industry validation, such as the Frost & Sullivan award, set the foundation to dramatically expand access to this essential and clinically proven alternative for cancer treatment," added Klein.
About Axxent Electronic Brachytherapy
The Axxent(R) Electronic Brachytherapy System has been developed to address a variety of oncological and non-oncological indications. The proprietary Axxent treatment platform is cleared for use in the treatment of cancers or conditions where radiation therapy is indicated. Specific applicators have been cleared for treatment of early stage breast cancer and endometrial and rectal indications. Designed to deliver electronic, X-ray- based radiation treatment, the Axxent System can be used in virtually any clinical setting under the supervision of a radiation oncologist. It is designed to deliver non-radioactive therapy directly to cancer sites with minimal radiation exposure to surrounding healthy tissue. Eliminating the need for heavily shielded environments, it gives radiation oncologists the flexibility to deliver therapy in a broader range of clinical settings without the complex handling and resource logistics necessary when performing brachytherapy using radioactive isotopes. As a result, tens of thousands of patients annually will have greater access to therapy that is delivered more easily and conveniently.
About Xoft, Inc.
Founded in 1998, Xoft develops leading-edge technologies for the practice of radiation oncology through Electronic Brachytherapy, which utilizes proprietary miniaturized X-ray tube technology. The Axxent(R) Electronic Brachytherapy System, Xoft's first treatment system, is currently being used in Accelerated Partial Breast Irradiation (APBI) for the treatment of early-stage breast cancer and in the treatment of endometrial cancer. For more information, visit http://www.xoftinc.com
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting, and Growth Team Membership(TM) empower clients to create a growth-focused culture that generates, evaluates, and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan's Growth Partnership Services, visit http://www.awards.frost.com.
Axxent is a registered trademark of Xoft, Inc.
CONTACT: Chris K. Joseph of Xoft, Inc., +1-510-339-2293,
chris@ckjcomm.com; or Jake Wengroff of Frost & Sullivan, +1-210-247-3806,
jake.wengroff@frost.com
Web site: http://www.xoftinc.com/
http://www.awards.frost.com/
