Proton therapy developer Mevion Medical Systems has raised $55 million from a group of existing equity investors.
The company said it will use the funds to accelerate the development of its Mevion S250 single-room proton therapy system. The company raised the funds from Caxton Heath Life Sciences, ProQuest Investments, Venrock, and CHL Medical Partners, as well as from debt financing provided by Life Sciences Alternative Funding.
Mevion claims that its technology delivers the noninvasive treatment and advantages of conventional proton therapy systems, but with improved reliability, efficient clinical workflow, lower implementation cost, and a footprint similar to that of a modern x-ray radiation therapy device.
