Heron Neutron Medical

What Heron Neutron Medical does

Heron Neutron Medical Corp. (禾榮科技股份有限公司) is a Taiwanese medical device company headquartered in Hsinchu Science Park that develops and commercializes Accelerator-Based Boron Neutron Capture Therapy (AB-BNCT) systems for cancer treatment. The company positions itself as the first AB-BNCT total solution provider in Taiwan and operates as a B2B enterprise medical equipment vendor targeting hospitals and specialized cancer treatment centers, particularly for recurrent head and neck cancer, triple-negative breast cancer, and malignant brain tumors where conventional surgery, chemotherapy, or photon radiation have failed.

The integrated technology platform comprises the ACSI Cyclotron for proton acceleration, a proprietary Neutron Source Target System using the 9Be(p,n) reaction with patented target material and cooling design, a Beam Shaping Assembly (BSA) with lateral proton incidence for high proton-to-epithermal neutron conversion efficiency, the Treatment Control System (TCS) with four operating modes, and the Herizon Treatment Planning System, which uses a Monte Carlo algorithm that completes one million neutron migration simulations in 15 minutes at Level 2 acceleration with claimed error within 1.5% per voxel. The company also develops the B10 L-BPA boron drug and has obtained a Taiwan FDA medical device license (July 2024) plus multiple TFDA clinical trial applications across new oncology indications.

Revenue is generated primarily through one-time sale and installation of AB-BNCT systems to hospitals, supplemented by clinical trial services with academic medical centers and boron drug development aimed at licensing/royalty monetization. Go-to-market combines direct enterprise sales with strategic technology and distribution partners including Siemens Healthineers (AI imaging integration) and Cosylab (software/integration and global market development), supported by clinical collaborators such as Taipei Veterans General Hospital, NYCU, and NUS Medicine. International expansion is being pursued through LOIs across Asia-Pacific, GCC (Middle East), and European markets, and the company has filed for an OTC listing in Taiwan.

Name

Heron Neutron Medical

Legal name

Heron Neutron Medical Corp.

Website

https://heron-neutron.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Heron Neutron Medical Corp. is a Taiwanese medical device company that develops and commercializes Accelerator-Based Boron Neutron Capture Therapy (AB-BNCT) systems for cancer treatment, serving hospitals and cancer centers with integrated platforms including a cyclotron, neutron beam shaping systems, treatment control software, and the Herizon treatment planning system.

Ownership category

akta.pro rank

Product category

Radiation Therapy Equipment

NAICS

Irradiation Apparatus Manufacturing (334517)

SIC

Surgical & Medical Instruments & Apparatus (3841), X-Ray Apparatus & Tubes & Related Irradiation Apparatus (3844)

akta.pro primary industry

Therapeutic Radiopharmaceuticals (Radioligand/Targeted Radionuclide Therapy) (HLAIAGAB)

akta.pro secondary industry

Radiation Oncology (HLAKAFAC)

Keywords

• Boron neutron capture therapy
• Particle therapy systems
• Radiation therapy equipment
• Cyclotron medical systems
• Cancer treatment devices

Headquarters

HQ city

Hsinchu

HQ country

Taiwan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Supply Chain, Operations, Marketing or Sales

Revenue model

1. AB-BNCT Medical Equipment Sales: Sale and installation of AB-BNCT treatment systems including cyclotron, neutron source target system, beam shaping assembly, treatment control system, and treatment planning system to hospitals and cancer treatment centers.
2. Clinical Trial Services: Conducting clinical trials for new BNCT indications including recurrent head and neck cancer, triple-negative breast cancer, and malignant brain tumors through partnerships with hospitals and medical institutions.
3. Boron Drug Development: Development of boron drugs including B10 L-BPA Injection for BNCT treatment. The company has submitted TFDA clinical trial applications for various cancer indications.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Heron Neutron Medical Corp. develops, manufactures, and sells Accelerator-Based Boron Neutron Capture Therapy (AB-BNCT) total solution systems for cancer treatment. The integrated platform comprises the ACSI cyclotron, a proprietary neutron source target system, a beam shaping assembly, a treatment control system, and a Monte Carlo-based treatment planning system (Herizon), sold to hospitals and cancer treatment centers. The company also develops boron drugs, including B10 L-BPA injection, to be used in conjunction with the AB-BNCT treatment system.

Product overview

Heron Neutron Medical offers a comprehensive AB-BNCT (Accelerator-Based Boron Neutron Capture Therapy) cancer treatment platform comprising multiple integrated systems and components. The core offering includes the AB-BNCT medical equipment system, which combines the ACSI Cyclotron for proton acceleration, the Neutron Source Target System for neutron generation, the Beam Shaping Assembly (BSA) for beam optimization, the Treatment Control System (TCS) for operational control, and the Herizon Treatment Planning System for dose calculation. The company also develops boron drugs (B10 L-BPA injection) for use with the treatment system. These components work together to deliver targeted boron neutron capture cancer therapy, with clinical trials underway for head and neck cancer, triple-negative breast cancer, and malignant brain tumors.

Differentiator

Problem solved

Functional benefit

Products and services

• AB-BNCT Medical Equipment System An integrated Accelerator-Based Boron Neutron Capture Therapy (AB-BNCT) system for hospitals and cancer treatment centers. Combines the ACSI cyclotron, neutron source target system, beam shaping assembly, treatment control system, and Herizon treatment planning system to deliver targeted boron neutron capture therapy for difficult-to-treat cancers.
• ACSI Cyclotron A standalone proton accelerator (cyclotron) used to generate protons for the neutron source target system, enabling accelerator-based BNCT treatment. Marketed as a core component of the AB-BNCT platform.
• B10 L-BPA Injection (Boron Drug) A boronophenylalanine (B10 L-BPA) injection developed for use as the boron delivery agent in Boron Neutron Capture Therapy. Currently undergoing clinical trials for head and neck cancer, triple-negative breast cancer, and malignant brain tumors in Taiwan.

Quantifiable outcome

• Tumor to normal tissue boron dose ratio of approximately 9x
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core, major and minor.

• National Yang Ming Chiao Tung University (NYCU)coreStrategic or Co-development Partner · 29 June 2026Cooperation agreement to establish BNCT and Advanced Imaging Research Center at Bo-Ai Campus, integrating boron neutron capture therapy, medical imaging, and translational research to advance precision oncology. Partnership also includes establishing an Accelerator & Radiation Medicine Talent Center in Miaoli.
• B dot MedicalmajorStrategic or Co-development Partner · 26 June 2026Partnership to advance next-generation particle therapy across Asia, combining both companies' expertise in particle therapy technologies.
• Siemens HealthineerscoreTechnology or Integration · 12 June 2026Collaboration integrating AI-powered medical imaging with the Herizon Treatment Planning System to enhance AB-BNCT treatment accuracy. At PTCOG64, Heron showcased key achievements from its collaboration with Siemens Healthineers for global precision cancer therapy advancement.
• CosylabcoreTechnology or Integration · 10 June 2026Cosylab and Heron Neutron Medical signed a Letter of Intent to establish a strategic framework for joint market development supporting global deployment of Accelerator-Based Boron Neutron Capture Therapy (AB-BNCT) systems. The collaboration combines Cosylab's software and system integration expertise with Heron's end-to-end BNCT platforms to accelerate clinical adoption and expand international market access, particularly in the Asia-Pacific region.
• The Node Company (UAE)majorChannel Partner/ Reseller/ Distributor · 4 June 2026Letter of Intent signed to expand AB-BNCT cancer treatment across GCC (Gulf Cooperation Council) markets in the Middle East.
• Taipei Veterans General Hospital (TVGH)coreStrategic or Co-development Partner · 12 May 2026Launch of clinical study exploring AB-BNCT as a first-line treatment strategy for head and neck cancer in collaboration with Taipei Veterans General Hospital.
• National University of Singapore Medicine (NUS Medicine)majorStrategic or Co-development Partner · 29 April 2026International 18F-FBPA research collaboration with NUS Medicine for advancing BNCT research and development.
• Archie Hwang (Individual Donor)minorOthers · 22 October 2024Generous donation of AB-BNCT equipment to benefit more cancer patients.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Elekta: Swedish radiation therapy and radiosurgery equipment vendor. Competes for the same hospital capital budgets and oncology service-line slots, shaping customer procurement decisions even where BNCT is not the primary modality.
• Varian Medical Systems (Siemens Healthineers): Global radiation oncology leader now part of Siemens Healthineers, which is itself a Heron partner. Represents the broader radiation-oncology standard of care that BNCT must displace or complement in hospital purchasing decisions.
• IBA (Ion Beam Applications): Belgian proton therapy equipment manufacturer with a global installed base in particle therapy. Adjacent incumbent serving the same class of academic cancer centers evaluating BNCT and proton therapy alternatives.
• Sumitomo Heavy Industries (BNCT30): Japanese industrial conglomerate whose BNCT30 system is the most clinically deployed BNCT platform to date. Broad incumbent with deeper installed base and Japanese regulatory/reimbursement precedent than Heron.
• Hitachi (Particle Therapy): Major Asian player in proton and particle therapy systems with established hospital reference base. Regional incumbent competing for capital allocation at large APAC cancer centers where Heron also targets sales.

Direct peers

• RaySearch Laboratories: Sweden-based vendor of treatment planning software (RayStation) used across proton, photon, and particle therapy. Comparable software competitor to Heron's Herizon Treatment Planning System and natural benchmark for software economics.
• TAE Life Sciences: Israeli/US-based developer of accelerator-based BNCT systems targeting the same hospital/cancer-center customer base. Most direct competitor to Heron's AB-BNCT platform, with overlapping indications in head & neck and other recurrent cancers.
• Stella Pharma: Japanese developer of borofalan (SPM-011), the boron drug used in commercial BNCT. Direct complement/c competitor to Heron's B10 L-BPA program and a key gating dependency for any BNCT system's commercial workflow.
• Neutron Therapeutics: US-based company commercializing the nuBeam compact accelerator-based BNCT system. Competes head-to-head with Heron for hospital BNCT installations and shares similar clinical-trial-driven adoption timelines.

Regional players

• CICS / Kansai BNCT (Cancer Intelligence Care Systems): Japanese operator of the Kansai BNCT clinical center using Stella Pharma's boron drug. Comparable clinical-services model and Asia reference site benchmark, but geographically and commercially distinct from Heron's Taiwan-based platform.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Heron Neutron Medical