Siemens Venture Capital, the corporate venturing division of Germany-based industrial conglomerate Siemens, has helped US-based cancer treatment company ViewRay raise a $45m round yesterday.
Siemens Venture Capital was joined by investment firms Aisling Capital and Fidelity Biosciences, which invests in healthcare on behalf of mutual fund manager Fidelity Investments as its sole limited partner, as well as venture firms Kearny Venture Partners, OrbiMed Advisors in the series C round.
ViewRay technology combines both radiotherapy and magnetic resonance imaging scans for cancer treatment. The company’s treatment planning and delivery software received "premarket notification clearance" from the US regulator Food and Drug Administration in 2011, while its imaging and radiotherapy technology is pending the same process.
The company has raised an estimated $73m. Aisling Capital, Kearny Venture Partners, OrbiMed Advisors and Fidelity Biosciences, Fidelity and the three VCs had provided $25m to ViewRay’s series B round in 2008 while the firm closed its series A round the year before at $3m mainly from private individuals. Viewray was founded in 2004.