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news.ViewRay, a medical device company, has closed the second tranche of its $25 million series B financing.
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The funding was triggered by the company’s achievement of a major milestone towards the development of its image guided cancer therapy device, the Renaissance system. The financing was led by OrbiMed Advisors and Fidelity Biosciences, and was joined by Aisling Capital and Kearny Venture Partners.
James Dempsey, chief scientific officer of ViewRay, said: “These funds will allow us to continue developing our novel radiation therapy device for the treatment of cancer patients. We believe our system’s simultaneous real-time volumetric imaging may provide a tremendous clinical advantage over systems in use today.”
Additionally, the company has entered into an exclusive development and supply agreement with Siemens Healthcare Sector for magnetic resonance imaging (MRI) technology. This collaboration is expected to accelerate the development of ViewRay’s Renaissance system.