Radiation therapy firm RefleXion Medical on Wednesday announced it has raised $105 million in new money.
The Rise Fund, private equity firm TPG’s multi-sector global impact offshoot, led the fundraising round. Hayward, California-based RefleXion said it will use the money to extend commercialization of its breakthrough therapy for treating all stages of solid tumor cancers, including metastatic disease.
“Closing an equity round of this size strongly affirms the conviction of our new and existing investors in fueling innovation for breakthrough treatment options, like therapy, in the battle against cancer,” Todd Powell, president and chief executive officer at RefleXion, said in a Nov. 15 announcement. “TPG’s support has been foundational in our journey, and we are gratified that they are leading a significant investment in RefleXion.”
New investors including Pictet and Square Point Capital also added to the total, alongside existing investors such as Ally Bridge, Pfizer Ventures and Johnson & Johnson Innovation.
RefleXion Medical said Scintix is the first and only technology designed to transform an injected radiotracer into “real-time signals that drive autonomous radiotherapy.” This allows the product to overcome targeting and motion management, “two of the longest standing barriers to using radiotherapy for definitive treatment of metastatic disease.”
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.