Cancer treatment company ViewRay secures $30m


mriMedical devices company ViewRay has raised a $30m round, which was backed by new investor Cowealth Medical Holding.

Existing backers Aisling Capital, Fidelity Biosciences, Kearny Venture Partners and OrbiMed Advisors also participated in the round, while Hercules Technology Growth Capital provided debt financing.

The company said the funds will support the worldwide commercialisation of its ViewRay system, which is already used by five cancer treatment centres around the globe.

The system is designed to improve the accuracy of cancer treatments through a patented combination of simultaneous Magnetic Resonance Imaging (MRI) and radiation therapy delivery

Cowealth president and CEO Duane Lee said, “We are confident that the ViewRay system will change the radiation oncology landscape.

“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.”

Last year the company raised a $45m round backed by Aisling Capital, Fidelity Biosciences and Kearny Venture Partners.

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