Total amount raised
$448.6 Millions
Latest funding date
07/01/2022
Location
RefleXion Medical has successfully raised significant funding over multiple rounds, focusing on advancing its SCINTIX® biology-guided radiotherapy technology. The company's innovative approach aims to revolutionize cancer treatment by precisely targeting tumors with high doses of radiation while minimizing impact on surrounding tissues.
Keep reading to explore the intricacies of RefleXion Medical's fundraising journey and the investors backing this groundbreaking platform.
What Is RefleXion Medical?
RefleXion Medical, founded in 2009, is based in Hayward, California. The company was established by Samuel Mazin and Nishita Kothary. Specializing in SCINTIX® biology-guided radiotherapy, RefleXion Medical employs over 200 people to advance cancer treatment technology.
How Much Funding Has RefleXion Medical Raised?
- Series A Round
- Amount Raised: $11.6 million
- Date: April 2014
- Lead Investors: Sofinnova Partners, Pfizer Venture Investments, Venrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand RefleXion's R&D organization and accelerate the development of their biologically-guided radiation therapy system.
- Series B Round
- Amount Raised: $52 million
- Date: July 2016
- Lead Investors: KCK Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and clinical application of RefleXion's biology-guided radiotherapy system.
- Debt Facility
- Amount Raised: $125 million
- Date: July 2022
- Lead Investors: Oxford Finance
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the commercialization of the RefleXion X1 platform and the introduction of BgRT technology.
Total Amount Raised: $188.6 million. Current Valuation: Not publicly disclosed.
Key Investors
- Oxford Finance
- Details: Oxford Finance is a specialty finance firm that provides senior debt to life sciences and healthcare services companies. They have a strong track record of supporting companies in these sectors.
- Investment Focus Areas: Life sciences, healthcare services
- Notable Investments: Not publicly disclosed
- KCK Group
- Details: KCK Group is a private investment firm that focuses on long-term investments in various sectors. They are known for their strategic and patient capital approach.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
- Venrock
- Details: Venrock is a venture capital firm originally established as the venture arm of the Rockefeller family. They have a long history of investing in technology and healthcare companies.
- Investment Focus Areas: Technology, healthcare
- Notable Investments: Apple, Intel, Gilead Sciences
- Pfizer Venture Investments (PVI)
- Details: PVI is the venture capital arm of Pfizer Inc., focusing on investments that align with Pfizer's strategic interests. They have been active in the venture capital space since 2004.
- Investment Focus Areas: Life sciences, pharmaceuticals
- Notable Investments: Not publicly disclosed
- Johnson & Johnson Innovation – JJDC Inc.
- Details: JJDC is the venture capital subsidiary of Johnson & Johnson, investing in medical devices, diagnostics, pharmaceuticals, and consumer health since 1973. They aim to support innovative healthcare solutions.
- Investment Focus Areas: Medical devices, diagnostics, pharmaceuticals, consumer health
- Notable Investments: Not publicly disclosed
What's Next for RefleXion Medical?
RefleXion Medical stands at the cusp of a transformative opportunity with its SCINTIX® biology-guided radiotherapy technology. The immediate availability of $55 million from their recent debt facility, along with an additional $70 million contingent on achieving regulatory and commercial milestones, sets the stage for significant growth. The potential to revolutionize cancer treatment by delivering higher doses of radiation to tumors while sparing healthy tissue could address a large unmet need in metastatic cancer treatment.
Future fundraising efforts are likely to focus on scaling operations and further developing their innovative technology. The successful commercialization of the RefleXion X1 platform and the introduction of BgRT technology could attract additional investments and possibly make the company an acquisition target for larger healthcare firms. However, challenges such as meeting regulatory requirements, technical validation, and integrating new technology into clinical workflows remain. Overcoming these hurdles will be crucial for RefleXion Medical to fully realize its potential in the evolving landscape of cancer treatment.
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