California-based medtech group RefleXion Medical said yesterday it extended its Series B round of financing, bringing in an extra $6 million to bring the total for the round up to $52 million.
RefleXion Medical said it is developing a biology-guided radiotherapy system for cancer treatment, which is designed to use positron emission tomography to locate and identify tumors during treatments.
“RefleXion’s novel combination of PET imaging and external beam radiation therapy represents a significant innovation in localized cancer treatment. We look forward to identifying compelling clinical applications for biology-guided radiotherapy alongside the oncology pipeline of the Janssen Pharmaceutical Companies of Johnson & Johnson,” prez Dr. Samuel Mazin said in a press release.
Financing in the round was led by new investor KCK Group and joined by existing investors Pfizer Venture Investments, Venrock and Sofinnova Partners, which Hayward, Calif.-based RefleXion Medical said is its largest shareholder. Along with the financing, KCK Group’s Nael Kassar and Greg Garfield are joining RefleXion’s board of directors.
The round was also joined by Johnson & Johnson Innovation, who will obtain “board observer” status at the company and will nominate a representative to join the company’s scientific advisory board.
“The continued support of our investors is a strong endorsement of RefleXion’s team, technology and clinical potential. In particular, we are very proud to announce Johnson & Johnson Innovation as a partner, and as our second corporate venture investor,” board chair Jay Watkins said in prepared remarks.
The company originally announced the closing of the round in April.
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