Mevion Medical Systems, a Littleton, Massachusetts-based provider of advanced proton therapy systems, received an up to $200m investment.
The round was led by HOPU Investments, YuanMing Capital, with participation from other Chinese investors and existing U.S. investors Caxton Alternative Management L.P., ProQuest Investments, Venrock and CHL Medical Partners.
In conjunction with the the investment, Mevion and the lead investors will form a joint venture in China to produce, sell and service proton therapy systems for the Chinese market.
The company will use the proceeds to accelerate its worldwide expansion increasing its manufacturing capacity and global service capability to support the installation of new proton therapy sites in the U.S., China and internationally.
Led by Joseph K. Jachinowski, President and CEO, Mevion Medical Systems provides proton therapy systems for use in radiation treatment for cancer patients. Its flagship product, the MEVION S250 proton therapy platform, is a modular, single room proton therapy system which integrates with standard radiation therapy workflow.
The company also has international offices in the United Kingdom and Japan.