ProTom International, a company that has been active in the proton therapy industry since 2007, has filed Chapter 11 bankruptcy.
DOTmed News reached out to the company but so far has not gotten a response. Other reports online from The Wall Street Journal and Dow Jones indicate ProTom filed for bankruptcy in May. Allegedly the company cited a contract dispute over a proton therapy facility it is installing in Flint, Mich. as a contributing factor.
ProTom International manufactures the Radiance 330 Proton Therapy System, which the company describes as a compact and economically viable modality. In March of last year it announced FDA approval of the system, and a statement was issued indicating plans to install one of their cyclotrons at Massachusetts General Hospital.
From the company's website: The patented and proven design of the compact synchrotron allows for accelerator interior vault space of approximately 20’ x 30’ and requires up to 40% less radiation shielding than most other systems on the market today.
The company will be auctioned on July 21, and the Dow Jones says Judge Barbara Houser set a July 17 bid deadline for buyers who are interested in purchasing ProTom International Inc. and its Radiance 330 machines.
Like proton beams from Mevion and IBA, ProTom's Radiance 330 is designed to appeal to smaller facilities looking to offer proton therapy to their patients. In a statement from 2009, Andy Cowen, at that time the director of ProTom, described the potential the company had to impact the growing proton market.
"A number of centres that were looking for four-room solutions just can't get the financing to do that," he said. "As our solution is scalable, they can start with two rooms now, and grow as the patient load increases. And for those hospitals that only need one or two treatment rooms, the price differential is really quite compelling."
