ViewRay, a developer of radiation therapy technology for the treatment of cancer, has raised $30 million in funding. The round included participation from existing investors Aisling Capital, Fidelity Biosciences, Kearny Venture Partners and OrbiMed Advisors, as well as new investor Cowealth Medical Holding. The funds are intended to support the worldwide commercialization of the ViewRay system, which has already been acquired by five leading cancer treatment centers worldwide. The ViewRay system, which is designed to improve the accuracy of cancer treatments through a combination of simultaneous MRI and radiation therapy delivery, enables clinicians to clearly see the cancer target, monitor where the actual radiation dose is being delivered, and adapt to changes in the patient’s anatomy.
The company has now raised about $114 million to date, including an $11 million investment at a valuation of $106 million this past February.