US-based medical equipment producer Reflexion Medical closed a $46m series B round yesterday featuring pharmaceutical firm Pfizer’s corporate venturing subsidiary, Pfizer Venture Investments.
The round was led by family investment fund KCK Group and also included venture capital firms Venrock and Sofinnova Partners.
Reflexion Medical is working on biology-guided, personalised radiotherapy technology that uses anatomic and functional imaging data to track tumours. The approach means radiation can be targeted at lesions at a higher intensity without damaging the surrounding, healthy tissue.
Part of the technology was licensed from Chicago University in 2011.
The series B funding will go towards the company’s engineering, regulatory and commercial efforts. KCK partner Nael Kassae and Greg Garfield, medical technology advisor at KCK, will join Reflexion’s board of directors.
Reflexion previously raised $11.6m in a 2014 series A round led by Sofinnova that included Pfizer and Venrock.
Jay Watkins, chairman of Reflexion, said: “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.”