RefleXion Medical has collected a $60 million loan for the approval and launch of its biology-guided radiotherapy (BgRT) system.
Provided by Oxford Finance, the senior secured term loan will fund the completion of the FDA clearance process for the system, which is the first to combine anatomical CT and functional PET capabilities for guided personalized radiotherapy, according to Todd Powell, president and CEO of RefleXion Medical.
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"Conventional radiotherapy uses images taken from outside the body to guide radiotherapy delivery. In contrast, the RefleXion machine is designed to use the emissions from PET to guide radiotherapy delivery from within the body,” he told HCB News. “As the PET tracer accumulates in the cancer itself, emissions are detected by our machine, which then delivers a beamlet of radiation directly to the tumor in real time.”
The system is designed to treat all forms of cancer at any stage, including metastatic disease, and is designed to localize multiple tumors in parallel. Users simply apply the PET tracer, which accumulates into each cancer, setting off continuous signals that are picked up by the system to indicate the location of each. The scanner then applies radiotherapy to attack, reduce and ultimately, eliminate them all in the same session.
It also can detect and deliver treatment to tumors in motion, and could enable providers to even apply radiotherapy for the first time to patients with stage four cancer.
“We are combining PET, the gold standard in visualizing and assessing cancer, with radiotherapy, a very effective way to treat cancer,” said Powell. “Our machine is designed to one day treat multiple tumors in parallel during the same session, enabling definitive radiotherapy for stage 4 cancer patients for the first time."
A work in progress over the past 10 years, the solution made its debut this past fall at the American Society of Radiation Oncology Annual Meeting in San Antonio, Texas.
RefleXion is currently in talks with the FDA and hopes to begin installations in the first half of next year.
Armentum Partners served as financial advisor to RefleXion Medical in regard to its deal with Oxford Finance.