RefleXion Medical Inc, a Hayward, CA-based biotargeting oncology firm, has received a USD60 million loan from Oxford Finance LLC, which will support the completion of the FDA clearance process for RefleXion’s biology-guided BgRT system and its subsequent commercial launch. The company is developing biology-guided radiotherapy (BgRT) system for targeted cancer treatment that uses both anatomic (computed tomography) and functional (positron emission tomography) imaging data to guide personalized radiotherapy. The company’s patented technology causes tumors to continuously signal their location throughout treatment, potentially revolutionizing cancer care.
Chief Financial Officer at RefleXion Medical, Martyn Webster said that we are very pleased to partner with Oxford Finance in this non-dilutive financing that enhances our cash position, provides financial flexibility and ensures we will achieve our commercialization objectives on terms that maximize long-term shareholder value. He further noted that our biology guiding radiotherapy, which aims to treat all stages of cancer, has received an enthusiastic response from clinical and financial communities alike, and this partnership with Oxford reinforces belief in our clinical premise and commercial value proposition. RefleXion is backed by TPG Growth/The Rise Fund, Sofinnova Partners, KCK Group, Venrock, T. Rowe Price Associates, Inc, GT Healthcare Capital Partners, Pfizer Venture Investments and Johnson & Johnson Innovation, JJDC Inc.
Headquartered in Alexandria, VA, Oxford Finance is a specialty finance firm offering senior secured loans to public and private life sciences and healthcare services companies worldwide. Having over 20 years of the expertise in this space, Oxford has delivered flexible financing solutions to its clients, to maximize their equity by embracing their assets.