RefleXion Medical, a Hayward, Calif.-based company that specializes in therapeutic oncology, has closed an equity financing of $80 million.
In addition to participation from existing investors TPG’s The Rise Fund, KCK Group, PSP Investments, T. Rowe Price, Ally Bridge Partners, Venrock, and global pharmaceutical leaders, Pfizer Ventures and Johnson & Johnson Innovation, JJDC Inc., the company added investments from Ascension Ventures, Catalio Capital Management, Sixty Degree Capital and Hillenbrand Capital Partners.
The company plans to use the funds for BgRT to treat all visible tumor sites and create a new option for patients suffering from metastatic disease.
Todd Powell, President and CEO of RefleXion Medical, is a company that is developing a biology-guided radiotherapy device, the RefleXion X1 system. This machine is approved for delivery of stereotactic radiation therapy (SBRT), stereotactic radiosurgery, and intensity-modulated radiotherapy. BgRT is being developed by the company. It incorporates positron emission tomography (PET), imaging data to allow tumors to continuously indicate their location. These data will be synchronized with the linear accelerator, allowing radiotherapy to be directed to tumors with subsecond latency. BgRT was recently designated a Breakthrough Device by the U.S. Food and Drug Administration for its ability to detect and treat moving targets.