On November 15, 2023 RefleXion Medical, a therapeutic oncology company, reported the initial closing of a $105M equity raise, led by The Rise Fund, TPG’s multi-sector global impact investing strategy (Press release, RefleXion Medical, NOV 15, 2023, View Source [SID1234637721]). These new funds will allow RefleXion to extend commercialization of its breakthrough SCINTIX therapy for treating all stages of indicated solid tumor cancers, including metastatic disease.
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"Closing an equity round of this size strongly affirms the conviction of our new and existing investors in fueling innovation for breakthrough treatment options, like SCINTIX therapy, in the battle against cancer," said Todd Powell, president and chief executive officer at RefleXion. "TPG’s support has been foundational in our journey, and we are gratified that they are leading a significant investment in RefleXion.
"We also welcome the support and contributions from new investors, including, Pictet and Square Point Capital," continued Powell.
In addition to TPG, existing RefleXion investors participating in the round include Ally Bridge, global pharmaceutical leaders, Pfizer Ventures and Johnson & Johnson Innovation (JJDC Inc.), funds and accounts advised by T.Rowe Price Associates, Inc., Venrock, Catalio and Hillenbrand.
"RefleXion is singularly focused on expanding the world of radiotherapy to include patients with all stages of disease, not just early-stage patients," said Matthew Hobart, co-managing partner of TPG Growth who leads the investment in RefleXion on behalf of TPG’s Rise Fund. "We are delighted to see RefleXion reach a stage where they can accelerate their impact and deliver treatment and outcomes at scale. We look forward to continuing to work with Todd and the team to support RefleXion’s growth."
SCINTIX is the first and only technology designed to transform an injected radiotracer into real-time signals that drive autonomous radiotherapy. In doing so, SCINTIX therapy becomes the first unified solution that overcomes targeting and motion management, two of the longest-standing barriers to using radiotherapy for definitive treatment of metastatic disease. SCINTIX therapy is delivered via the RefleXion X1 platform, the world’s only dual-treatment modality platform that also offers image-guided radiotherapy for treating early-stage disease.