Date: Apr 14, 2016 Source: Mass Device (
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California-based medtech group RefleXion Medical said today it closed a $46 million Series B round of financing, with funds slated to expand its engineering, regulatory and commercial organizations.
RefleXion Medical said it is developing a biology-guided radiotherapy system for cancer treatment, which is designed to use positron emission tomography to locate and identify tumors during treatments.
"In just 2 years, the RefleXion team has mitigated the core technical risks in developing a disruptive biology-guided radiotherapy system. PET has been an effective tool to help diagnose and stage cancer using a radiotracer to map the higher metabolic activity of cancerous lesions. With this metabolic map, we could track multiple tumors in real time and precisely deliver targeted therapy based on that patient's individual biology," RefleXion prez Dr. Samuel Mazin said in a press release.
Financing in the round was led by new investor KCK Group and joined by existing investors Pfizer Venture Investments, Venrock and Sofinnova Partners, which Hayward, Calif.-based RefleXion Medical said is its largest shareholder.
"On behalf of the company and existing investors, I would like to welcome KCK Group as we work together to advance cancer care in a significant way. This major financing, along with the collective support, vision and guidance of Sofinnova Partners, Pfizer and Venrock, will allow the Company to achieve the development and regulatory milestones preceding a commercial launch of this paradigm-changing technology," RefleXion chair Jay Watkins said in a press release.
Along with the financing, KCK Group's Nael Kassar and Greg Garfield are joining RefleXion's board of directors.
"KCK is extremely excited to partner with RefleXion, and is committed to seeing their technology transform care for patients suffering from cancer," KCK Group medical tech division head Garfield said in prepared remarks.
