This Award is presented in recognition of the company’s successful XCT technology and its products which include the XC Mammo-3T, XC MP -3T for general body imaging, as well as the Cardio -3T and XC Cardio -4T for preventive cardiac imaging.
An invention and development house for X-ray companies, XCounter comprises 55 highly qualified researchers in the field of space research and radiation instrumentation development. Their expertise was used to transform the company’s existing technology into the XCT technology through the development of commercial medical imaging products.
“XCounter is set to launch a 3D mammography digital system based on its unique proprietary technology in 2007-2008,” notes Frost & Sullivan Research Analyst Ms. Divya B. “If launched at the right time, the product will enable the company to take advantage of the growing digital mammography market in Europe.”
Using the XCT technology, a 2D mammography system was successfully developed and tested in 2002-2003. In 2004, XCounter commenced the development of the XC Mammo –3T, a 3D product for digital mammography screening. This 3D mammography system is currently being tested on patients. The company pronounces that the tests confirm the technology’s ability to produce high quality images at a low radiation dose to the patient.
XCounter’s unique and proprietary technology, the XCT -3T, is said to have several major advantages over competing technologies. The XC Mammo -3T system provides for the production of high quality 3D images at low levels of radiation dose to the patient, less compression of the breast and reduced patient movement blurring, all at competitive production costs. The system also enables fewer physical recalls of patients and results in a faster workflow.
“XCounter’s business model is based on the concept of co-opetition,” says Ms. Divya. “The commercialisation strategy of the company is to enter into licensing/development agreements with leading global X-ray systems marketing and distribution companies, thus leveraging their established distribution network.”
Currently, the prototype is ready and the technology is undergoing a second patient study. With the initial launch in Europe, the product will eventually compete with film-based and digital medical X-ray imaging machines in the global market.
“Demonstrating true entrepreneurship, XCounter has embarked on a business venture in response to identified opportunities,” remarks Ms. Divya. “The company believes that it can initially capture one-third market share of the 3D digital mammography market and has taken prudent risks, assessing the needs of the market.”
The Frost & Sullivan Award for Entrepreneurial Company is presented each year to a small company that demonstrated superior entrepreneurial ability in its industry during the research period. This Award signifies the company's identification of a unique and revolutionary product solution with significant market potential. Additionally, the Award certifies that the company's marketing strategy is sound and poised for success.
Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.
XCounter is the innovation and development house for the leading X-ray companies. XCounter offers ready-to-market imaging systems based on unique 3D technologies. The company was founded in 1997 by researchers with NASA and CERN experience in space research. It is listed on the London Stock Exchange's AIM market. XCounter is based in Stockholm, Sweden.
XCounter’s unique and proprietary technology for 3-dimensional X-ray imaging, XCT -3T, has a number of advantages over competing technologies. XCT -3T enables fast acquisition of high resolution 3D images, at low levels of radiation dose. This means more predictable diagnosis as well lower risks for the patients when compared to existing imaging techniques.
XCounter currently has four product platforms in development based on XCT -3T, XCounter’s unique technology. The first is XC Mammo -3T, the only system originally designed for 3D breast cancer screening. Secondly the XC MP -3T for general body imaging, which is introducing low dose 3D imaging in to general X-ray imaging and preventive cancer screening.
XCounter also develops two platforms for preventive cardiac imaging. XC Cardio -3T for functional imaging of the heart which will have the capability of imaging the perfusion of blood through the heart muscle, leakage through the valves and blood flow through coronary arteries in different phases of the heart cycle. These capabilities will give information enabling the doctor to take medical measures before any serious complications occur.
The heart is a very dynamic organ, and many of the heart diseases are best visualised dynamically and our product platform XC Cardio -4T introduces a totally new dimension by imaging 3D movies of the beating heart. We believe XC Cardio -4T is a solution to a medical need, which none of the leading X-ray companies to date has been able to satisfactorily address.
The XCT -3T based product platforms described above target the major part of the US$7 billion digital X-ray system market, and have the potential to expand the market through the introduction of novel low-dose screening applications.
For further information, please contact:
XCounter AB (publ.)
Dr Tom Francke, Chief Executive Officer, T: +46 8622 2300