• IBA Receives Order from CGNNT for a Proteus®PLUS System to be Installed in Yangzhou, China

    Source: Nasdaq GlobeNewswire / 05 May 2022 00:00:00   America/Chicago

    Louvain-La-Neuve, Belgium, 5 May, 2022 – IBA (Ion Beam Applications S.A., EURONEXT), the world leader in particle accelerator technology and the world’s leading provider of proton therapy solutions for the treatment of cancer, today announces it has received an order from CGN Medical Technologies for a Proteus®PLUS1 proton therapy system to be installed in Yangzhou, China. The order marks the first project under the IBA-CGNNT partnership, announced in August 2020. A downpayment has been received for the order and IBA will start to recognize revenue in 2022. The value of this contract for IBA is estimated at around EUR 20 million.

    The order includes a Proteus®PLUS proton therapy system configured with three-gantry treatment rooms. As part of the agreement, both companies will jointly manufacture, assemble, commission and support all activities of the Proteus®PLUS system in China, as well as delivering a multi-year service contract to be jointly provided to the customer by IBA and CGN.

    "Proton therapy, as an advanced and precise treatment modality for patients living with cancer, aligns with the Chinese government's 'Healthy China' strategy and has significant market potential, said Zhu Zeliang, Chairman and General Manager of CGN Medical Technology (Mianyang) Co., Ltd and CGN Isotope (Mianyang) Co., Ltd. "CGN Healthcare will adhere to the mission of Nuclear Technology Makes Human Life Better. That’s why partnering with IBA, a clear market leader in proton therapy technology, truly reinforces our commitment to ensuring cancer patients in China will be provided with more advanced cancer diagnosis, treatment products and services."

    “This order demonstrates that our strong partnership with CGNNT is already delivering results,” said Olivier Legrain, CEO of IBA. “By combining IBA’s unrivaled experience in proton therapy with CGN’s leadership position in Nuclear Technology in China, we are ideally placed to expand our strong leadership position in this strategically important territory, with this deal marking our 8th Proteus®PLUS proton therapy system to be installed in the region. We are excited to be able to bring a much-needed therapy to patients in China as the proton therapy market continues to expand.”

    ***Ends***

    About IBA

    IBA (Ion Beam Applications S.A.) is the world leader in particle accelerator technology. The company is the leading supplier of equipment and services in the field of proton therapy, considered to be the most advanced form of radiation therapy available today. IBA is also a leading player in the fields of industrial sterilization, radiopharmaceuticals and dosimetry. The company, based in Louvain-la-Neuve, Belgium, employs approximately 1,600 people worldwide. IBA is a certified B Corporation (B Corp) meeting the highest standards of verified social and environmental performance.

    IBA is listed on the pan-European stock exchange EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB).

    More information can be found at: www.iba-worldwide.com

    About CGNNT

    CGNNT (stock code: 000881.SZ) is a leading company in the nuclear technology application industry that was restructured and listed in Shenzhen Stock Exchange on February 27, 2017, after the major asset restructuring of CGN Nuclear Technology Application Co., Ltd. and China Dalian International Cobusiness (Group) Holdings Ltd. Up to now, CGNNT has completed the layout of core business units such as accelerator manufacturing, application development and technical service and modified polymer material. Their market share leads the nation. CGNNT mainly incubates such emerging services as radiation detection and security inspection (managed) and new irradiation application, and actively expands to high-end fields such as nuclear medicine (especially PT field), nuclear agricultural science and nuclear environmental protection, with market size firmly ahead in China.

    More information can be found at: http://www.cgnnt.com.cn

    CONTACTS

    Soumya Chandramouli
    Chief Financial Officer
    +32 10 475 890
    Investorrelations@iba-group.com

    Olivier Lechien
    Corporate Communication Director
    +32 10 475 890
    communication@iba-group.com

    Consilium Strategic Communications
    Amber Fennell, Angela Gray, Lucy Featherstone
    +44 (0) 20 3709 5700
    IBA@consilium-comms.com



    1 Proteus®PLUS is a brand name of Proteus®235


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