Mevion Medical Systems has closed a $45 million investment from ProQuest Investments and existing investors, including Caxton Health Life Sciences, Venrock and CHL Medical Partners.
The privately held, Littleton, MA-based company is focused on manufacturing its Mevion S250 proton therapy system and hopes its technology can provide a workaround for the hefty price tag ($120 million+) of most U.S. proton therapy centers, according to DOTmed. Mevion hopes its efforts will make cancer therapy more readily available to those patients who may benefit from this advanced form of radiation treatment, the company notes on its website.
Proton therapy can help deliver therapeutic radiation to treat a number of cancers. However, because of the immense size and expense of such systems, they are not yet widely available. But Mevion, formerly known as Still River Systems, is looking to change this situation with a less cumbersome, more cost-effective offering. The new funding will be used to accelerate the manufacturing and worldwide deployment of the Mevion S250, according to a company statement.
The Mevion system has yet to be cleared by the FDA for clinical use.
- see the Mevion release
- read the DOTmed story