Radiation therapy equipment developer RefleXion Medical announced the closing of a $125 million debt facility.
Of those funds, $55 million is available immediately to repay the firm's existing $50 million debt. The remaining $70 million will be available upon reaching certain regulatory and commercial milestones related to the continued commercialization of the company's RefleXion X1 platform and the introduction of its novel RefleXion biology-guided radiotherapy (BgRT) technology.
In 2021, the BgRT technology received a breakthrough device designation from the U.S. Food and Drug Administration (FDA) for use in treating lung tumors. Its RefleXion X1 has been cleared by the FDA to deliver conventional radiation therapy such as stereotactic body radiation therapy, stereotactic radiosurgery, and intensity-modulated radiation therapy.
