ProTom International Holding Corporation, a Flower Mound, Texas-based proton therapy technology company, received a commitment for an additional $30.0m investment from Michaelson Capital Partners, LLC.
One third of the total, $10.0m, have already been provided through March, 2017. The investment will be closed by the end of June 2017.
Led by CEO Steve Spotts, ProTom International offers focused proton therapy treatments to cancer patients through its Radiance 330® Proton Therapy System.
The company, which has raised a total of $60.0m since 2015, has been installing its scanning-beam proton therapy machine in an existing and continually operational radiation oncology facility at Massachusetts General Hospital (MGH) in Boston. The Radiance 330® enables the facility to share clinical staff, ancillary equipment and patient support areas.
The installation is expected to be operational in late 2017.