CapeRay is a medical technology company dedicated to improving the likelihood of early breast cancer diagnosis. CapeRay chief executive Dr. Kit Vaughan is currently utilizing Powerlinx to partner with businesses that will help his firm meet compliance guidelines in the U.S. and Europe.
Breast cancer is the most common cause of cancer-related death in women worldwide, with 522,000 breast cancer-related deaths estimated in 2012 alone. Despite its prevalence, breast cancer remains one of the most uncertain and uncomfortable cancers to detect. Breast cancer screening company CapeRay is using partnerships to change that.
Partnering for Strategic Growth
Launched as a spin-off company from the University of Cape Town in 2009, CapeRay has developed proprietary diagnostic imaging technology and prototyped equipment for detecting breast cancer that is more accurate and efficient than any method currently on the market. CapeRay’s dual-modality Aceso system combines current breast cancer screening methods, simultaneously gathering both digital X-ray and 3D ultrasound-based images in just one 10 minute-exam – an impressive feat considering current methods often require women to undergo 30 minute-tests during multiple office visits. Additionally, CapeRay’s screening equipment records images in the same orientation and degree of compression, allowing for more accurate diagnoses.
Dr. Kit Vaughan, senior executive of CapeRay, entered Powerlinx’s automated matching platform through Powerlinx partner and South African business accelerator SABLE in order to be matched with a clinical trial partner that could help CapeRay’s new breast screening equipment gain regulatory approval. After working with Powerlinx analysts, Vaughan was matched with the leaders of multiple compliance-based businesses. Discussions with one such match, Cyrus Park of the clinical outsourcing company Julius Clinical, have been especially productive. Once CapeRay is further along in its commercialization strategy at the start of 2015, Vaughan will continue discussions with Park regarding the clinical trials that will be necessary for CapeRay to gain FDA and CE Mark compliance in the U.S. and Europe.
As Vaughan works to initiate his potential partnership with Park, he is careful to set specific goals. By working closely with Julius Clinical, Vaughan is optimistic that the CE Mark for CapeRay's Aceso system can be achieved by mid-2015 with FDA approval to follow in early 2016.
In the future Vaughan anticipates forming additional partnerships for further growth. “I am particularly keen to develop strategic partnerships, both for growth capital and also to expand the distribution of our systems around the world,” Vaughan said.
The Powerlinx Touch
During his time as a Powerlinx member, Vaughan has been most impressed by the human touch that complements Powerlinx’s automated business matching system. Vaughan’s Powerlinx analysts made sure to gain a deep awareness of Vaughan’s strategic growth goals, as Vaughan mentions in the groundbreaking Grow from the Right Intro partnerships study:
“I have been impressed with the services offered by Powerlinx, particularly the interest shown by one of their young client success managers, Hayden Tyson, who took the time to understand CapeRay’s current business needs.”CapeRay is currently seeking growth capital and strategic partners to assist with distribution of its innovative breast imaging systems. If you feel your business offerings would make a good match for CapeRay, or if you would like Powerlinx to pursue a strategic objective of your own, visit Powerlinx.com.