News | Radiation Therapy | April 16, 2020

RefleXion Raises $100 Million for Cancer Treatment Commercialization

Funding continues momentum of recent FDA clearance and first system order

Funding continues momentum of recent FDA clearance and first system order

April 16, 2020 — RefleXion Medical, a therapeutic oncology company pioneering the use of biology-guided radiotherapy (BgRT) for all stages of cancer, today announced the close of a $100 million equity financing led by Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers that focuses on long-term investments with partners demonstrating strong value orientation strategies.

“RefleXion’s bold vision for the future of cancer care stands to completely reshape how physicians think about treating patients with stage 4 cancer,” said Loïc Julé, managing director, Global Investment Partnerships Portfolio, PSP Investments.“This is exactly the mindset of companies we strive to build long-term relationships with. We are thrilled to support RefleXion during this next phase of their growth as they ramp up market and clinical adoption of this groundbreaking technology.”

RefleXion’s existing investors, TPG’s The Rise Fund, KCK Group, Sofinnova Partners, Venrock, T. Rowe Price, and global pharmaceutical leaders, Pfizer Ventures and Johnson & Johnson Innovation, JJDC Inc., all participated in the round. BofA Securities and Morgan Stanley & Co., LLC acted as placement agents for the company.

“This new influx of capital continues our momentum initiated first by FDA clearance of the RefleXion X1 platform last month, then quickly followed by the close of our first system order at one of the world’s leading cancer centers,” said Todd Powell, president and CEO of RefleXion. “The support of this top-tier investment syndicate enables us to further scale operations around commercializing the X1 platform.

“Moreover, these funds allow us to validate the practical implications of using BgRT on a daily basis as we transform radiotherapy from early-stage cancer treatment to an option for patients with all stages of cancer,” continued Powell.

The RefleXion X1 machine with BgRT is designed to overcome the technical limitations that currently restrict radiotherapy to one or two tumors. When available, RefleXion will scale BgRT to treat all visible tumors, even those that move rapidly due to bodily functions such as breathing or digestion, in the same treatment session.

RefleXion recently announced  FDA clearance for stereotactic body radiotherapy (SBRT), stereotactic radiosurgery (SRS) and intensity modulated radiotherapy (IMRT), and its first clinical and commercial client.

For more information: www.reflexion.com/

Related Content

Interoperability between Brainlab and Accuray planning systems using Snke OS, an enterprise health tech platform
News | Treatment Planning | October 29, 2020
October 29, 2020 — Accuray Incorporated, a pioneer in the robotic stereotactic radiosurgery (...
Vinai Gondi, M.D., the Director of Research at the Northwestern Medicine Chicago Proton Center, Co-director of the Brain Tumor Center at Northwestern Medicine Cancer Center, Warrenville, and lead author of the NRG-BN001 abstract.

Vinai Gondi, M.D., director of research at the Northwestern Medicine Chicago Proton Center, co-director of the Brain Tumor Center at Northwestern Medicine Cancer Center, Warrenville, and lead author of the NRG-BN001 abstract.

News | Intensity Modulated Radiation Therapy (IMRT) | October 27, 2020
October 27, 2020 — A...
"Stereotactic radiosurgery versus whole-brain radiation therapy for patients with 4-15 brain metastases: A phase III randomized controlled trial" was presented by Jing Li, M.D., The University of Texas MD Anderson Cancer Center, at ASTRO20
News | Stereotactic Body Radiation Therapy (SBRT) | October 26, 2020
October 26, 2020 — Results of a new randomized phase III trial suggest that...
"Stereotactic ablative fractionated radiotherapy versus radiosurgery for oligometastatic neoplasia to the lung: A randomised phase II trial," presented by Shankar Siva, Ph.D., Peter MacCallum Cancer Centre, was presented at ASTRO20
News | Stereotactic Body Radiation Therapy (SBRT) | October 26, 2020
October 26, 2020 — A new study, conducted across 13 medical centers in Australia and New Zealand, strengthens the cas
"Initial report of a randomized trial comparing conventional- vs conventional plus fluciclovine (18F) PET/CT imaging-guided post-prostatectomy radiotherapy for prostate cancer" was presented by Ashesh Jani, M.D., Winship Cancer Institute of Emory University, at ASTRO20
News | PET Imaging | October 26, 2020
October 26, 2020 — Adding the advanced PET radiotracer...
A randomized phase II/III study comparing 24Gy in 2 stereotactic body radiotherapy (SBRT) fractions versus 20Gy in 5 conventional palliative radiotherapy (CRT) fractions for patients with painful spinal metastases was presented by Arjun Sahgal, M.D., University of Toronto, today at ASTRO20
News | Radiation Therapy | October 26, 2020
October 26, 2020 — A new study shows using fewer and higher doses of high-precision...
Nearly 40 MRIdian-focused presentations will be part of the ASTRO Scientific Sessions
News | Magnetic Resonance Imaging (MRI) | October 26, 2020
October 26, 2020 — ViewRay, Inc. announced that the company's MRIdian Linac MRI-guided radiation therapy system will
Treating lung cancer patients with proton therapy may help reduce the risk of radiation-induced heart diseases, suggests a new study from Penn Medicine. In a retrospective trial of more than 200 patients, mini-strokes were significantly less common among patients who underwent proton therapy versus conventional photon-based radiation therapy. Proton therapy patients also experienced fewer heart attacks.
News | Proton Therapy | October 25, 2020
October 25, 2020 — Treating lung cancer patients with prot...