Mevion Medical Systems, Inc. (formerly known as Still River Systems, Inc.) a Littleton, MA-based radiation therapy company dedicated to advancing the treatment of cancer, has closed a $45m funding.
The company intends to use the funding to accelerate the manufacturing and worldwide deployment of its MEVION S250 Proton Therapy System, which has not yet been cleared by the United States Food and Drug Administration for clinical use.
Founded in 2004 and led by CEO Joseph K. Jachinowski, Mevion develops modern proton therapy systems. which permit more precise dose targeting by complete proton absorption at predictable tissue depth, allowing the treatment of target volumes adjacent to critical structures without inadvertent dose to sensitive structures.
Powered by a TriNiobium Core™, the company’s MEVION S250 is designed to significantly reduce the cost, size and complexity to levels similar to other modern X-ray radiation therapy devices, and brings accessibility, affordability and practicality to proton therapy.
Mevion has international offices in the United Kingdom and Japan.
In conjunction with the funding, Mr. Jay Moorin of ProQuest Investments will join Mevion Medical Systems’ Board of Directors.