Biology-guided radiotherapy (BgRT) technology developer RefleXion Medical announced today that it closed a $125 million debt facility.
Hayward, California-based RefleXion has $55 million of the $125 million total available immediately to repay its existing $50 million in debt. The remaining $70 million will be made available upon the achievement of certain regulatory and commercial milestones.
According to a news release, RefleXion plans to use the funds to support the continued commercialization of its X1 platform and the introduction of its novel BgRT technology. The company designed BgRT to transform an injected radiotracer into a unified motion management solution that overcomes the technical limitations currently restricting radiotherapy use to one or two tumors.
BgRT has received FDA breakthrough device designation for use in lung tumors and RefleXion plans to scale the therapy to treat all visible cancer sites, creating a new treatment option for …