A group of leading medical research organizations from Ontario recently announced the launch of XLV Diagnostics Inc. which is a new medical imaging, prime sector start-up company. The new company will be supported by Thunder Bay Regional Research Institute (TBRRI), Sunnybrook Research Institute (SRI), Ontario Institute for Cancer Research (OICR) and MaRS Innovation.
XLV Diagnostics Inc will focus on commercializing Dr. John Rowlands' X-ray Light Valve (XLV) system. The company will also construct a full-scale prototype of the imaging detector in Thunder Bay, and will then test its performance (cost of production and improved imaging quality). The new XLV system will be used in mammography to improve access to screening and diagnosis of breast cancer.
In a release, the Honourable Glen Murray, Minister of Research and Innovation said that "I am thrilled to see this made-in-Ontario technology being commercialized right here where it was developed - in Thunder Bay. We were pleased to support the work of Dr. Rowlands, as he developed this technology. It's a great example of the McGuinty government's commitment to innovation that improves health care, creates new jobs and strengthens our economy."
Honourable Michael Gravelle, Minister of Northern Development, Mines and Forests, and MPP for Thunder Bay-Superior North said that "It's tremendously exciting to see the launch of an innovative technology company that will change people's lives for the better, and today's announcement truly demonstrates the incredible momentum of our Thunder Bay Regional Research Institute. Just 15 months ago, our government made the largest investment in research ever in Northwestern Ontario - $6.5 million - to support advanced research work through TBRRI, and it's clear that was a very wise investment indeed.”
Mammography sales across the world are estimated to be in the range of $1 billion annually.
The digital mammography marketplace is growing at a rapid pace of 20% by making use of the latest technology. The new XLV innovation looking extremely promising and is likely to capture and generate a new market of affordable x-ray technology.
Dr. Rowlands, Founding Scientific Director of TBRRI who has also been named the Research and Development Advisor of the new company said that "This new company will help bring XLV to the next phase of commercialization. The idea is based on real patient need. The XLV technology would be applied first in mammography as a faster, better, less expensive way to screen for breast cancer, and eventually it will expand to other types of medical imaging."
Calvin Azuri is a contributing editor for HealthTechZone. To read more of Calvin’s articles, please visit his columnist page.Edited by
Rich Steeves
