News | December 18, 2013

ViewRay Closes $30 Million Financing to Expedite Commercialization of MRI-Guided RT System

viewray mri systems radiation therapy
December 18, 2013 — ViewRay Inc., a privately held medical device company, secured $30 million in funding from existing equity investors Aisling Capital, Fidelity Biosciences, Kearny Venture Partners and OrbiMed Advisors; new investor Cowealth Medical Holding Co. Ltd.; as well as with debt financing provided by Hercules Technology Growth Capital, a Palo Alto-based specialty finance company whose focus is providing senior secured loans to venture capital backed technology companies.
 
The funds are intended to support the worldwide commercialization of the ViewRay system, which has already been acquired by five cancer treatment centers worldwide.
 
The ViewRay system is designed to improve the accuracy of cancer treatments through a patented combination of simultaneous magnetic resonance imaging (MRI) and radiation therapy delivery. With continuous soft-tissue imaging, clinicians can clearly see the cancer target, monitor where the actual radiation dose is being delivered and adapt to changes in the patient's anatomy all in real time, providing a more precise and personalized cancer treatment option. 
 
"We are confident that the ViewRay system will change the radiation oncology landscape," said Duane Lee, president and CEO, Cowealth. "MRI-guided radiation therapy is an essential advancement in this field and ViewRay has both the technology and the team to bring it to fruition."
 
"As we look forward to expanding our international presence, partnering with a Chinese investor is a significant milestone," said Chris Raanes, president and CEO, ViewRay. "The continued backing of past institutional investors, in addition to this new funding from Cowealth and Hercules, is a testament to the strength of this technology. We expect the first patient to be treated on the ViewRay system imminently, and with the support of our investors, we are excited to accelerate the deployment of the system globally."
 
For more information: www.viewray.com

Related Content

Immune Inflammatory Levels Linked to Disease-Free Survival in Prostate Cancer
News | Prostate Cancer | November 19, 2018
Data from a validation study of a high-risk prostate cancer trial suggests that higher levels of pretreatment...
Canon Medical Receives FDA Clearance for Vantage Orian 1.5T MRI
Technology | Magnetic Resonance Imaging (MRI) | November 15, 2018
Canon Medical Systems USA Inc. received 510(k) clearance from the U.S. Food and Drug Administration (FDA) on its new...
Merit Medical Completes Acquisition of Cianna Medical
News | Women's Health | November 14, 2018
Disposable device manufacturer Merit Medical Systems Inc. announced the closing of a definitive merger agreement to...
Researchers Awarded 2018 Canon Medical Systems USA/RSNA Research Grants
News | Radiology Imaging | November 13, 2018
The Radiological Society of North America (RSNA) Research & Education (R&E) Foundation recently announced the...
Subtle Medical Showcases Artificial Intelligence for PET, MRI Scans at RSNA 2018
News | Artificial Intelligence | November 13, 2018
At the 2018 Radiological Society of North America annual meeting (RSNA 2018), Nov. 25-30 in Chicago, Subtle Medical...
Videos | ASTRO | November 08, 2018
ITN Editor Dave Fornell took a tour of some of the most innovative technologies on display on the expo floor at the 
The Fujifilm FCT Embrace CT System displayed for the first time at ASTRO 2018.
360 Photos | 360 View Photos | November 07, 2018
Fujifilm's first FDA-cleared compu...
This is the Siemens Magnetom Sola RT edition 1.5T MRI system optimized for radiation therapy displayed for the first time since gaining FDA clearance in 2018. It was displayed at the American Society for Radiotherapy and Oncology (ASTRO) 2018 annual meeting. Read more about this system at ASTRO 2018. #ASTRO18 #ASTRO2018
360 Photos | 360 View Photos | November 07, 2018
This is the Siemens Magnetom Sola RT edition 1.5T MRI system optimized for...