Biotech, Financing

Mevion Medical Systems in debt financing for $55 million

Posted on 26 June 2013

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Mevion Medical Systems has secured $55 million in debt financing to accelerate the deployment of its revolutionary MEVION S250 Proton Therapy System.

The funds were raised from existing equity investors, including Caxton Heath Life Sciences, ProQuest Investments, Venrock, and CHL Medical Partners, as well as from debt financing provided by Life Sciences Alternative Funding.

The debt financing funds will be used to further Mevion's work with proton particles.

Proton particles have the intrinsic ability to deliver a more highly targeted treatment for the management of cancerous tumors and lesions as compared to traditional X-ray radiation therapy.

This ability can provide less collateral damage to surrounding healthy tissue, making proton therapy a valuable treatment option for pediatric cancers and high-risk target locations.

However, proton therapy has been limited to only a select few institutions because of the high-cost, large space requirements and operational complexities of legacy proton systems.

The MEVION S250 is a unique proton therapy system that has changed this paradigm, delivering the same precise, non-invasive treatment capabilities and advantages of conventional systems but with a significantly reduced size, improved reliability, efficient clinical workflow, and lower implementation cost.

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