ViewRay Appoints Ajay Bansal As Chief Financial Officer
CLEVELAND, June 9, 2016 /PRNewswire/ -- ViewRay, Inc. (Nasdaq: VRAY) announced today the appointment of Ajay Bansal as Chief Financial Officer, effective June 8, 2016. Mr. Bansal, who will succeed David Chandler, will be based in the Company's Mountain View, CA office.
"I am delighted to welcome Ajay to ViewRay," said Chris Raanes, ViewRay's president and chief executive officer. "We are at an exciting stage in our Company's development, as we remain on track to complete our regulatory submissions for our MRIdian linac technology in the second half of 2016 and prepare to commercialize this important innovation. Ajay's deep experience makes him the ideal person to help us manage our growth and build shareholder value." Mr. Raanes added: "I would like to thank David Chandler for his six years with ViewRay, which culminated in our Company's recent listing on the NASDAQ Global Market, and for his willingness to continue commuting from Seattle until we could find a top quality successor."
Mr. Bansal brings to ViewRay nearly 30 years of life sciences industry experience, spanning the areas of finance, commercialization, strategic planning and business development. Since 2003, Mr. Bansal has served as CFO of various life sciences companies, raising over $1 billion of capital. Most recently, he served as CFO of Onconova Therapeutics, a biopharmaceutical company, where he led the company's initial public offering in 2013. Prior to that, Mr. Bansal served as CFO of Complete Genomics, a leader in whole human genome sequencing, where he led the company's initial public offering in 2010. Complete Genomics was acquired by BGI in 2013.
Previously, Mr. Bansal was a partner at Mehta Partners, LLC. In this role, he provided strategic advisory services to the firm's biotechnology and pharmaceutical clients. He also helped manage the firm's investment business and coordinated its research efforts. Earlier in his career, Mr. Bansal worked in strategy, sales and marketing for Novartis Pharmaceuticals and held positions with leading consulting firms, including McKinsey & Company. He received masters degrees in both management and operations research from Northwestern University.
About ViewRay
ViewRay®, Inc. (Nasdaq: VRAY), designs, manufactures and markets the MRIdian® radiation therapy system. MRIdian integrates MRI technology, radiation delivery and proprietary software to locate, target and track the position and shape of soft-tissue tumors during radiation. ViewRay believes this combination of enhanced visualization and accuracy will significantly improve outcomes for patients.
ViewRay and MRIdian are registered trademarks of ViewRay, Inc.
Forward Looking Statements:
This press release contains forward-looking statements. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, references to completing regulatory submissions for ViewRay's MRIdian linac technology in the second half of the year and preparing to commercialize the MRIdian linac technology. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue ViewRay's business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize MRIdian linac technology, competition in the industry in which ViewRay operates and overall market conditions. These forward-looking statements are made as of the date of this press release, and ViewRay assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents ViewRay files with the SEC available at www.sec.gov.
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SOURCE ViewRay, Inc.
