Raises $80 Million to Broaden Cancer Treatment Options
Summary
HAYWARD, Calif., Mar 10, 2021 – RefleXion Medical, a therapeutic oncology company pioneering the use of biology-guided radiotherapy (BgRT)* for all stages of cancer, today announced the close of an $80 million equity financing. “RefleXion’s breakthrough technology holds the potential to expand the reach of radiotherapy to late-stage cancers where five-year survival is less than 31%,” said Tara Butler, M.D., senior managing director of Ascension Ventures. “We believe wholeheartedly in their goals of improving outcomes for these patients, and in prioritizing the availability of BgRT at community hospitals thereby enabling patients to receive their cancer treatment without traveling long distances.” Existing RefleXion investors that participated in the round include 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. BgRT is the first and only technology designed to transform an injected radiotracer into a unified motion management solution that overcomes the technical limitations currently restricting radiotherapy use to one or two tumors. RefleXion’s 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. “In just under a year, we have gained experience with image-guided radiotherapy by delivering nearly 2,000 patient treatments, successfully completed our feasibility study, secured an additional key radiopharmaceutical agreement, and expanded our commercial footprint.