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The Norrland Fund continues to defend their position in C-RAD.

Press release 2010-03-10
C-RAD AB with its three wholly owned subsidiaries are all active in the field
of radiation therapy. In the recently closed new share issue The Norrland Fund
defends their position by subscribing a convertible loan of 1.8 MSEK. 

C-RAD Imaging AB was established in Frösön, outside Östersund in Nothern
Sweden, in april 2005. Since then, the technology, originally developed at CERN
in Switzerland, has been developed for use in the medical field. The main
reason for establishing the company in Östersund was the access of key
employees with unique competences for the development of electronics, software,
mechanics and also with long experience from the field of radiation therapy.
The company also found premises with access to a fully equipped clean room, an
essential condition for the business. 

The Norrland Fund supported C-RAD Imaging AB financially at an early stage.
Back in 2006 two convertible loan of 2.1 MSEK in total was subscribed.  Since
then The Norrland Fund has defended their position in the company. With this
latest convertible loan of 1.8 MSEK the Norrland Fund has made a total
investment of 7 MSEK. 

Per-Erik Persson, the Norrland Fund:

We continue to see positive on C-RADS establishment and development in
Östersund. Companies of this type with high skills are valuable for the
development of the region. When choosing to finance high-tech companies in
early stages using convertible loans, we know from experience that the process
is long until positive cash flow and that engagement often become long-term
with several financing rounds. The Norrland Fund's stable and long-term focus
creates good conditions in order to comply with companies like C-RAD all the
way. The success of the Gemini and the Östersund activities further reinforces
why we continue to invest in C-Rad. 
Erik Hedlund, CEO, C-RAD AB:
"The cooperation and support from the Norrland Fund was essential to start up
the development of the GEMini system. Thanks to the support from the Norrland
Fund a first version of the portal imaging detector GEMini ED was released in
the beginning of 2010. A number of companies, both Swedish and foreign, has
shown great interest in the system.” 

For further information: 
Erik Hedlund, CEO C-RAD AB, Telefon 018 - 66 69 31, E-post
About The Norrland Fund
Norrlandsfonden, The Norrland Fund, provides flexible last mortgage loans for
start-ups, development and expansion, primarily to small and medium-sized
manufacturing and service-providing enterprises in North Sweden.  The Norrland
Fund is especially interested in companies that wish to invest in new
technology or new business areas with promising growth potential. We
collaborate closely with banks, venture-capital companies. New loans estimates
to around 250 MSek yearly and the fund has an equity of 1 000 MSek. 

About C-RAD AB
C-RAD develops new and innovative solutions for the use in advanced radiation
therapy. The company group of C-RAD offers products and solutions for patient
positioning, tumor localization and radiation treatment systems. End users are
radiation therapy clinics worldwide. All product development is conducted in
three fully owned subsidiaries; C-RAD Positioning AB, C-RAD Imaging AB and
C-RAD Innovation AB. C-RAD Imaging AB is located in Östersund while the other
companies are located in Uppsala. Numbers of employees are currently 19 people.
The activity in C-RAD AB originates in research and development at the
Karolinska Institutet in Solna and the The Royal Institute of Technology in
Stockholm. Sales of the company's first product, the Sentinel system, started
in autumn 2006.  Co-operation agreements have been signed with the radiation
therapy company Elekta and the Belgian company IBA. On major markets in Europe,
North America and East Asia the company is represented by distributors normally
specialized in radiation therapy. 
C-RAD was since July 2007 listed at Aktietorget. From 8 March 2010 C-RAD is
traded at OMX First North Premier.
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