MagnetTx and the Future of MR/Linac Technology: Insights from CEO Mike Cogswell

John Vano, President of Radiology Oncology Systems, had the opportunity to sit down with Mike Cogswell, CEO of MagnetTx, to discuss ASTRO 2024.  Mike is a major player in the radiation oncology space and has helped launch many startups in the space.  Mike has held senior positions at IMPAC, Elekta, Mevion, ViewRay, and most recently MagnetTx Oncology Solutions.

John Vano:   A few years ago, we interviewed Dr. Gino Fallone about the Aurora-RT linear accelerator.  Since that time, you have been spearheading the business.  How is it going so far?

Mike Cogswell:  We have had extraordinary interest in our MR/Linac…

The Aurora RT, now known as the practical linac with MRI has been well received. MagnetTx has now received FDA  approval and CE mark. Our first installations are underway.

Vano:  Last year ViewRay exited the market.  What does this mean for MagnetTx?

Cogswell: John, I think everyone was shocked by the collapse and mismanagement of ViewRay. Not surprising it had an overall negative effect on the RT market. Organizations are just recovering, and we are seeing clients come back to the table cautiously. Overall, the use of MRI as a logical progression in RT has been proven, and it is our responsibility to deliver this technology in a cost-effective manner.

It’s really too bad that ViewRay was not able to generate a profit after so many years of marketing and selling their devices.  They had a nice product.  Similar to high-priced proton systems that saw many bankruptcies over the past decade, it’s very important to have cost-control built into any product development.

Magnet/Linac technology is not going away.  The clinical value is significant.  At MagnetTx, we’ve done a great job of managing our growth and spending in parallel.

Vano:  What do you hope to gain at this year’s Exhibition Hall at ASTRO?

Cogswell:   I am excited to announce that Akesis and MagnetTx are forging ahead with a strategic partnership. This will allow clients to benefit from a new partner in the field with a full product line as an offering. Akesis will benefit from leveraging an experienced management and commercial team, while the group as a whole can reduce costs and offer clients a choice of products manufactured in North America.

Vano:  Are there any other interesting technologies that you are excited about?

Cogswell: I have been working with Mureva; a product designed for the overall severity of oral mucositis (OM) caused by the RT treatment. Mureva has just completed its double-blinded clinical study, and the results are stellar. This company and product could make a difference for hundreds of thousands of patients suffering from OM.  Twelve facilities participating in this pivotal trial have demonstrated significant clinical benefits.

Check out www.murevapt.com. FDA submission is pending for de novo status, and we anticipate approval by Q3 next year.