LITTLETON, Mass., Sept. 8 Still River Systems, Inc., a privately held medical device manufacturer developing a revolutionary, affordable proton therapy delivery system for the treatment of cancer, today announced that the company has appointed Joseph K. Jachinowski as its Chief Executive Officer and to its Board of Directors.
Joe comes to Still River Systems with a distinguished 28 year track record of successfully developing products and building companies in the field of radiation therapy for cancer. He was most recently Executive Vice President of Elekta AB and CEO of Elekta Holdings with overall responsibility for all of Elekta's North American operations. Elekta is a leading supplier of radiation therapy equipment. Prior to Elekta, he co-founded IMPAC Medical Systems and served as its President and CEO for 15 years from its inception, through its initial public offering, and culminating in its acquisition by Elekta in 2005. IMPAC was a world-wide leading provider of information systems for cancer care. Joe began his career at Varian Medical Systems, where he was responsible for leading the team which developed their innovative linear accelerator products in the 1980s.
In March 2009, Still River Systems closed a $33 million financing from leading venture capital firms Caxton Health Holdings, Venrock Associates, and CHL Medical Partners to complete the development of the Monarch250 proton beam system.
"We are delighted to have Joe Jachinowski join the Still River Systems team. Joe has a proven track record of success in the field of radiation therapy and brings demonstrated entrepreneurial leadership to Still River as we complete the development of the novel Monarch250 proton therapy system," commented Robert N. Wilson, Chairman of Still River's Board of Directors.
In related news, Still River Systems is pleased to announce that Marc Buntaine will be assuming the position of President and Chief Commercial Officer, and Kenneth Gall, Ph.D., one of Still River's founders, has been named Chief Technology Officer.
About Still River Systems
Still River Systems is a privately held company based in Littleton, MA which was founded in 2004 with a mission to develop affordable and compact proton therapy systems for the precise treatment of cancer.
Proton Beam Radiation Therapy (PBRT) is widely regarded as the optimal radiation treatment for a wide variety of cancers. There is an urgent need to expand the availability of PBRT beyond the very limited number of large institutions able to afford the high cost of existing systems. By using state of the art superconducting magnet technology, Still River Systems is developing a high quality, affordable PBRT system called the Monarch250 Proton Therapy System. The company has previously announced that it has already partnered with a number of leading medical institutions who are planning to install the systems in the U.S. and internationally. The Monarch250 has not been cleared by the US Food and Drug Administration for clinical use. For more information on Still River Systems and the Monarch250 Proton Therapy System, please call 978-540-1500 or visit www.StillRiverSystems.com.
SOURCE Still River Systems, Inc.