US-based oncology therapy technology developer Reflexion secured $40m on Tuesday from healthcare-focused investment firm Ally Bridge Group to expand a series D round featuring pharmaceutical firms Pfizer and Johnson & Johnson to $150m.
The company said it raised $110m of series D funding across 2020, including $100m from investors including Pfizer Ventures and Johnson & Johnson Innovation – JJDC, the respective investment vehicles for Pfizer and Johnson & Johnson, in April 2020.
Canada’s Public Sector Pension Investment Board led the April tranche, which included both corporates, private equity group TPG’s The Rise Fund, KCK Group, Sofinnova Partners, Venrock and T Rowe Price.
Founded in 2009, Reflexion is developing biology-guided radiotherapy technology designed to treat multiple cancer tumours simultaneously. The company is also developing a similar technology which causes tumours to continuously reveal their location in the body.
Reflexion’s president and chief executive, Todd Powell, said: “As we consider our Asia market entry strategy, the value of this strategic relationship with Ally Bridge is of paramount importance.
“Their experience investing in novel therapies approaching market entry will benefit us as we seek to establish a global footprint.”
Rise Fund led a $100m series C round for Reflexion in 2018 that also featured Pfizer Ventures, Johnson & Johnson Innovation – JJDC, T Rowe Price, Sofinnova Partners, KCK Group, Venrock and GT Healthcare Capital Partners.
Johnson & Johnson Innovation – JJDC provided $6m as part of the company’s $52m series B round, which closed in 2016, investing with Pfizer Ventures, Sofinnova Partners, KCK Group and Venrock.
Pfizer Ventures, Sofinnova Partners and Venrock had previously provided $11.6m for Reflexion’s series A round two years earlier.