US-based medical equipment producer Reflexion Medical closed a $52m series B round yesterday following a $6m investment by healthcare company Johnson & Johnson, provided by its Johnson & Johnson Innovation – JJDC unit.
The funding followed a $46m first tranche in April this year featuring Pfizer Venture Investments, the corporate venturing vehicle of pharmaceutical firm Pfizer, as well as family investment fund KCK Group, which led the round, and venture capital firms Sofinnova Partners and Venrock.
Reflexion Medical is developing biology-guided, personalised radiotherapy technology. Its system tracks tumours in real time through anatomic and functional imaging data, making it possible to precisely target lesions at a higher intensity without the danger of damaging healthy tissue.
The product is partially based on research conducted at Chicago University that was licensed in 2011. Reflexion will use the capital to support its engineering, regulatory and commercial activities, and a representative from JJDC will join the company’s scientific advisory board.
Reflexion had previously secured $11.6m in series A funding from Pfizer Venture Investments, Venrock and lead investor Sofinnova in 2014.
Jay Watkins, chairman of Reflexion, said: “The continued support of our investors is a strong endorsement of Reflexion’s team, technology and clinical potential. In particular, we are very proud to announce Johnson & Johnson Innovation as a partner, and as our second corporate venture investor.”