RefleXion Medical, a Hayward, Calif.-based therapeutic oncology company, closed an $80m equity financing.
In addition to participation from existing investors TPG’s The Rise Fund, KCK Group, PSP Investments, T. Rowe Price, Ally Bridge Partners, Venrock, and global pharmaceutical leaders, Pfizer Ventures and Johnson & Johnson Innovation, JJDC Inc., the company added investments from Ascension Ventures, Catalio Capital Management, Sixty Degree Capital and Hillenbrand Capital Partners.
The company intends to use the funds to scale BgRT to treat all visible cancer sites to create a new treatment option for patients with metastatic disease.
Led by Todd Powell, president and CEO, RefleXion Medical is a company developing a biology-guided radiotherapy system, the RefleXion X1 machine, which is cleared for the delivery of stereotactic body radiotherapy (SBRT), stereotactic radiosurgery (SRS) and intensity modulated radiotherapy (IMRT). The company is also developing BgRT, which incorporates positron-emission tomography (PET) imaging data to enable tumors to continuously signal their location. The BgRT technology will synchronize these data with the linear accelerator to direct radiotherapy to tumors with subsecond latency. BgRT recently received Breakthrough Device designation from the U.S. Food and Drug Administration (FDA) for use in lung tumors because of its potential to detect and then immediately treat moving targets.