RefleXion Medical, a Hayward, Calif.-based medical technology company developing a biology-guided radiotherapy system (BgRT) for targeted cancer treatment, raised more than $100m in Series C round of funding.
The round was led by The Rise Fund, the global impact investment fund managed by TPG Growth, with participation from T. Rowe Price Associates, Inc., China-focused healthcare investment firm GT Healthcare Capital Partners, and existing investors Sofinnova Partners, KCK Group, Venrock as well as corporate investors Pfizer Venture Investments and Johnson & Johnson Innovation – JJDC Inc.
The company intends to use the funds to commercialize its cancer treatment.
Led by Samuel Mazin, PhD, Founder and CTO, and CEO Todd Powell, RefleXion Medical is a medical device company developing a biology-guided radiotherapy (BgRT) system for cancer treatment which leverages Positron Emission Tomography (PET) in a novel way to allow tumors to continuously signal their location during treatment.
During BgRT procedures, cancer patients will be injected with a PET (Positron Emission Tomography) imaging tracer that accurately identifies tumors. RefleXion’s technology then directs therapeutic x-rays at one or more targets in real time, based on the tracer signals, to deliver higher doses of radiation to cancerous lesions than current systems with improved sparing of surrounding healthy tissue.