March 14, 2012 — ViewRay said it received $45 million in new financing to help speed development of its magnetic resonance imaging (MRI) image-guided radiation therapy (IGRT) system. The system provides a patented combination of simultaneous radiotherapy delivery and continuous MRI for the treatment of cancer.
ViewRay's treatment planning and delivery software received 510(k) premarket notification clearance from the United States Food and Drug Administration (FDA) in 2011, and its integrated imaging and radiotherapy delivery system is now pending 510(k) review.
The funding came from a round of series C venture capital financing. Institutional investors include Aisling Capital, Fidelity Biosciences, Kearny Venture Partners, OrbiMed Advisors and Siemens Venture Capital (SVC) GmbH.
"Thanks to the ongoing commitment of our investors, ViewRay is in the process of preparing for market launch," said ViewRay president and CEO Gregory M. Ayers, M.D., Ph.D. "With our continued and substantial progress, our investors are even more enthusiastic about the potential of ViewRay and the promise of MRI-guided radiotherapy."
The first ViewRay research system is undergoing final installation at the Siteman Cancer Center at Barnes?Jewish Hospital and Washington University School of Medicine in St. Louis, Missouri. Additional ViewRay research partners include the University of Wisconsin Carbone Cancer Center and the University of California, Los Angeles, Health System and Jonsson Comprehensive Cancer Center.
For more information: www.viewray.com