Quantcast
Last updated on April 20, 2014 at 14:04 EDT

TechPrecision Corporation Congratulates Mevion Medical Systems on Delivering First MEVION S250 Proton Therapy System for Treatment

December 23, 2013

First Person in the World Receives Radiation Therapy Using the Revolutionary System; TechPrecision Exclusive Provider of Precision Components for System

CENTER VALLEY, Pa., Dec. 23, 2013 /PRNewswire/ — TechPrecision Corporation (OTC Bulletin Board: TPCS) (“TechPrecision” or “the Company”), an industry leading global manufacturer of precision, large-scale fabricated and machined metal components and tested systems with customers in the naval/maritime, energy and precision industrial sectors, today congratulated Mevion Medical Systems on the milestone event of delivering the world’s first MEVION S250 Proton Therapy System for treatment at the S. Lee Kling Proton Therapy Center at Barnes-Jewish Hospital in St. Louis. A patient with a rare type of cancer called chondrosarcoma at the base of the skull has become the first person in the world to receive proton therapy using the system.

The MEVION S250 is a unique proton therapy device designed to deliver highly precise doses of radiation while limiting unnecessary radiation to healthy tissue. TechPrecision has partnered with Mevion Systems since 2006 helping to develop for the innovative, low cost and smaller proton beam radiotherapy solution for treating tumors. In January 2013, TechPrecision announced a five-year agreement with Mevion to exclusively produce precision components for their proton beam radiotherapy system.

“This is a critical next step to continuing the rollout of this innovative, cost-effective and precise device which promises to greatly improve the treatment of specific types of cancers,” commented Len Anthony, TechPrecision’s Executive Chairman. “We are proud of the part TechPrecision has played in delivering this strategic project which will greatly benefit patients and which has been eagerly awaited by the medical community, reflected in the current 11 systems under active development in the U.S. alone. Previously, proton therapy adoption was limited by the high costs of larger conventional systems, but the MEVION S250 system offers significantly lower capital and operating costs, enabling a wider range of facilities to provide proton therapy.”

About TechPrecision Corporation

TechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components Co., Ltd., globally manufactures large-scale, metal fabricated and machined precision components and equipment. These products are used in a variety of markets including: energy, naval/maritime and precision industrial. TechPrecision’s goal is to be an end-to-end global service provider to its customers by furnishing customized and integrated “turn-key” solutions for completed products requiring custom fabrication and machining, assembly, inspection and testing. To learn more about the Company, please visit the corporate website at http://www.techprecision.com. Information on the Company’s website or any other website does not constitute a part of this press release.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward-looking terminology such as “believes,” expects” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including recurring operating losses and the availability of appropriate financing facilities impacting our ability to continue as a going concern, our ability to change the composition of our revenues and effectively reduce operating expenses, the Company’s ability to generate business from long-term contracts rather than individual purchase orders, its dependence upon a limited number of customers, its ability to successfully bid on projects, and other risks discussed in the company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

    Company Contact:                     Investor Relations Contact:

    Mr. Richard F. Fitzgerald            Hayden IR

    Chief Financial Officer              Brett Maas

    TechPrecision Corporation            Phone: 1-646-536-7331

    Tel: 1-484-693-1702                  Email: brett@haydenir.com

    Email: Fitzgeraldr@techprecision.com Website: www.haydenir.com

    Website: www.techprecision.com

SOURCE TechPrecision Corporation


Source: PR Newswire