TechPrecision Corporation Secures Exclusive Medical Device Contract

TechPrecision Corporation, a leading manufacturer of large-scale, high-precision machined metal fabrications with customers in the alternative energy, medical, nuclear, defense, aerospace and other commercial industries, announced today that its wholly owned subsidiary, Ranor, Inc., has entered into an exclusive 3-year manufacturing and supply agreement to produce key components for a revolutionary proton beam radiotherapy (PBRT) device to treat cancer that is being developed by Still River Systems, Inc. (Still River or SRS) of Littleton, MA.

Under the terms of the agreement, Ranor will manufacture certain key components for initial units of Still River’s Monarch250, a proprietary proton beam radiotherapy system to be delivered to Still River’s business partners throughout the United States. Components for the initial systems are now nearing completion at Ranor and are undergoing various phases of testing. Provided that testing of the SRS Monarch250 system continues to progress successfully, and following FDA clearance, this could generate approximately $30 million in revenues to Ranor for the initial systems over the next three years.

Over the past two years, Ranor’s design team has worked in close collaboration with the engineering team at Still River to develop an efficient manufacturing process for Still River’s Monarch250 PBRT system. The SRS Monarch250 is the next generation proton therapy system, designed to provide a significantly more cost effective system, and to potentially increase access to PBRT treatment for cancer patients worldwide. Proton beam radiotherapy produces less collateral damage to surrounding tissue than conventional radiation therapy and is widely regarded as the optimal radiation treatment for a variety of cancers. Additionally, Still River has substantially reduced the footprint and cost versus current solutions, which will allow greater access to treatment for a significantly larger population.

“Ranor’s unique experience in manufacturing complex metal fabrications and machined products has allowed us to focus our research and development efforts and resources on the fundamental innovations and systems integration for the Monarch250, while outsourcing complex manufacturing challenges to a proven resource,” said Marc Buntaine CEO of Still River Systems, Inc. “We are excited about having Ranor as our exclusive manufacturing partner as we work to market a proprietary system that should make more effective cancer treatment available worldwide.”

“We are pleased that TechPrecision’s expertise in complex metal fabrication and machining is supporting Still River Systems’ effort to establish proton therapy as a standard of care for patients worldwide,” commented Louis Winoski, CEO of TechPrecision Corporation. “This agreement and our relationship with Still River is yet another example of our strategy to leverage TechPrecision’s core competency in precision manufacturing to target high-volume, scalable, long-term production work, which should result in another recurring revenue stream for us in the years ahead.”

About Still River Systems, Inc.
Still River Systems, Inc., based in Littleton, MA, is dedicated to providing physicians, and their patients, access to high quality, costeffective proton therapy solutions. Still River Systems is developing the Monarch250, an affordable, precise and compact proton therapy system for cancer treatment. The Monarch250 has not been cleared by the US Food and Drug Administration for commercial distribution/clinical use. For more information on Still River Systems and the Monarch250 Proton Therapy System, please call 9785401500 or visit www.StillRiverSystems.com.

About The Monarch250
The Monarch250 is the next generation of proton radiation therapy systems and the world's first single room integrated proton therapy system. Based on Still River Systems’ highmagnetic field cyclotron, the Monarch250 is integrated with well established clinical systems such as patient radiographic and cone beam CT imaging, highprecision robotic treatment couch, oncology information systems and treatment planning systems. The compact, precise and affordable design of the Monarch250 proton therapy system provides the most versatile proton treatment capabilities, enhancing existing department capacity, and taking proton treatment beyond the walls of academic institutions to hospitals and cancer centers around the world. The Monarch250 has not been cleared for commercial distribution/clinical use by the US Food and Drug Administration and is currently in development.

About TechPrecision Corporation
TechPrecision Corporation, through its wholly-owned subsidiary Ranor, Inc., manufactures metal fabricated and machined precision components and equipment. These products are used in a variety of markets including: alternative energy, medical, nuclear, defense, industrial, and aerospace. TechPrecision’s goal is to be an end-to-end service provider to its customers by furnishing customized and integrated “turn-key” solutions for completed products requiring custom fabrication and machining, assembly, inspection and testing. To learn more about the Company, please visit the corporate website at http://www.techprecision.com. Information on the Company’s website or any other website does not constitute a part of this press release.