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

Book Chapter Reports on Fonar Upright MRI for Hydrocephalus Imaging

Rotary misalignment of atlas (C1) and axis (C2). Image courtesy of Scott Rosa, DC, BCAO.

News | Magnetic Resonance Imaging (MRI) | March 20, 2019
Fonar Corp. reported publication of a chapter where the physician-author-researchers utilized the Fonar Upright Multi-...
ZON-PTC in Clinical Use With RayStation 8B and Hyperscan
News | Treatment Planning | March 19, 2019
Zuid-Oost Nederland Protonen Therapie Centrum (ZON-PTC), Maastricht, Netherlands, recently treated its first patient...
Non-Contrast MRI Effective in Monitoring MS Patients
News | Neuro Imaging | March 18, 2019
Brain magnetic resonance imaging (MRI) without contrast agent is just as effective as the contrast-enhanced approach...
New MRI Sensor Can Image Activity Deep Within the Brain
News | Magnetic Resonance Imaging (MRI) | March 15, 2019
Calcium is a critical signaling molecule for most cells, and it is especially important in neurons. Imaging calcium in...
What to Expect from the Proton Therapy Market in 2019-2020
News | Proton Therapy | March 13, 2019
The number of new particle therapy rooms ordered worldwide dropped by almost 20 percent in 2018, according to a new...
Iron Measurements With MRI Reveal Stroke's Impact on Brain

Images show illustrative examples of visual R2? modifications within substantia nigra (SN) at baseline (24-72 h) and follow-up (1 y) in striatum (participants 1 and 2) and control groups (participants 3 and 4). Image courtesy of the Radiological Society of North America (RSNA).

News | Stroke | March 12, 2019
March 12, 2019 — A simple ...
Mississippi Cancer Center Combines RayStation and TomoTherapy for Prostate Cancer Case
News | Treatment Planning | March 08, 2019
Anderson Regional Cancer Center in Meridian, Miss., has treated its first patient using the combination of RaySearch's...
Siemens Healthineers Announces First U.S. Install of Magnetom Sola 1.5T MRI
News | Magnetic Resonance Imaging (MRI) | March 04, 2019
South Texas Radiology Imaging Centers, San Antonio, recently became the first healthcare institution in the United...
Videos | Proton Therapy | March 01, 2019
ITN Associate Editor Jeff Zagoudis speaks with Mark Pankuch, Ph.D., director of physics and dosimetry at the...
Videos | Proton Therapy | February 28, 2019
ITN Associate Editor Jeff Zagoudis speaks with ...