ViewRay Incorporated, a Cleveland, Ohio-based medical device company, secured $30m in funding.
Backers included existing equity investors Aisling Capital, Fidelity Biosciences, Kearny Venture Partners and OrbiMed Advisors, and new investor Cowealth Medical Holding Co Ltd (TT: 4745).
Hercules Technology Growth Capital (NYSE: HTGC) provided debt financing.
The company intends to use the funds to for the worldwide commercialization of the ViewRay system, which has already been acquired by five cancer treatment centers worldwide.
Led by Chris A. Raanes, president and CEO, ViewRay develops advanced radiation therapy technology for the treatment of cancer. The ViewRay system provides continuous soft-tissue imaging during treatment, using MRI-guided radiotherapy, which allows clinicians to clearly see the cancer target, monitor where the actual radiation dose is being delivered, and adapt to changes in the patient’s anatomy – all in real time.