RefleXion Medical, Inc., a Hayward, CA-based biotargeting oncology company, received a $60m senior secured term loan from Oxford Finance, LLC.
The funds will support the completion of the FDA clearance process for their biology-guided BgRT system and its subsequent commercial launch.
RefleXion is developing a biology-guided radiotherapy (BgRT) machine for targeted cancer treatment, which utilizes both anatomic (computed tomography) and functional (positron emission tomography) imaging data to guide personalized radiotherapy.
The company’s patented technology causes tumors to continuously signal their location during treatment, potentially revolutionizing cancer care.
RefleXion is backed by premier investment firms TPG Growth/The Rise Fund, Sofinnova Partners, KCK Group, Venrock, T. Rowe Price Associates, Inc., China-focused healthcare investment firm GT Healthcare Capital Partners, and global pharmaceutical leaders Pfizer Venture Investments and Johnson & Johnson Innovation, JJDC Inc.
The company has also received grant funding from the National Cancer Institute (NCI) Small Business Innovation Research (SBIR) Program and a passive, minority investment from UPMC.
The RefleXion machine requires 510(k) clearance and is not yet commercially available.