Trending: New security service from Cloudflare hopes to kill the VPN once and for all

Calypso Medical Technologies, a Seattle company which has developed a system to pinpoint tumors in the body, has been acquired for $10 million by Varian Medical Systems of Palo Alto, California. The deal also is subject to earn-out provisions based on unit sales of the Calypso medical device over the next 30 months.

Nonetheless, the deal is hardly a big win for investors who pumped $50 million into the company in 2009. Backers included Frazier Healthcare Ventures; Skyline Ventures; Bay City Capital; InterWest Partners and others.

Calypso said that it generates about $15 million in annual revenues, with the systems in place at more than 100 institutions in North America and Europe. It also has a patent portfolio of some 90 patents.

In a statement, Calypso Medical CEO Edward Vertatschitsch said:

“We are extremely gratified by the confidence and promise of this acquisition by Varian. It provides a tremendous opportunity to leverage our GPS for the Body technology as broadly as possible,” said . “Motion management is critical to accurately targeting the cancer so patients can experience the curative benefits of radiation therapy while protecting adjacent healthy tissue. We believe our real-time tracking capabilities will help to close the gap on this clinical challenge and I look forward to joining the Varian team to advance innovations in these areas.”

Like what you're reading? Subscribe to GeekWire's free newsletters to catch every headline


Job Listings on GeekWork

Senior Full Stack Engineer, Semantic ScholarThe Allen Institute for Artificial Intelligence (AI2)
Find more jobs on GeekWork. Employers, post a job here.