ViewRay, a privately held medical device company, has secured $20m in Series C financing led by new investor Siemens Venture Capital (SVC) along with existing investors Aisling Capital, Fidelity Biosciences, Kearny Venture Partners and OrbiMed Advisors.
The funding is intended to move the ViewRay system, a image-guided radiation therapy system in the late stages of development, through the process of commercialisation and placement in medical centers.
Siemens Venture Capital CEO Ralf Schnell said that the ViewRay system is designed to improve the accuracy of cancer treatments through a combination of simultaneous magnetic resonance imaging (MRI) and radiotherapy delivery. The MRI-guided radiotherapy has great potential, and they believe that ViewRay has the technology and the team to bring it to fruition.
ViewRay president and CEO Gregory Ayers said that they are pleased to welcome SVC to their team, adding to the technology partnership with the Siemens MR business unit of Siemens AG.
“The continuing commitment of their present investors is a testament to both the significant progress we have made in development of our system and the overall promise of MRI-guided radiotherapy,” Schnell said.