GAINESVILLE, Fla., Jan. 22 /PRNewswire/ -- ViewRay Incorporated
(http://www.viewray.com), a medical device manufacturer, announced today
the close of a $25 million Series B financing. Founded in 2004, ViewRay
Incorporated is focused on the development of a real-time magnetic
resonance imaging (MRI) guided radiation therapy device for the treatment
of cancer patients. The financing was led by OrbiMed Advisors and Fidelity
Biosciences, and was joined by Aisling Capital, and Kearny Venture
Partners.
"This substantial funding from blue-chip biomedical investors is a
first in our industry and a testament to the promise of ViewRay's
technology to help cancer patients. More importantly, it allows us to
accelerate the development of our system, the first device to promise
real-time volumetric imaging simultaneous with radiation treatment"
explained ViewRay CEO William Wells.
The ViewRay Renaissance(TM) System 1000 technology was invented by
James F. Dempsey, Ph.D., associate professor in the Department of Radiation
Oncology at the University of Florida and has been exclusively licensed by
the Company from the University of Florida. Proceeds from the Series B
financing will be used to further build the ViewRay Incorporated team and
manufacture and validate advanced prototypes of the Renaissance(TM) System
1000.
About OrbiMed Advisors LLC
OrbiMed is the world's largest healthcare-dedicated investment firm,
with over $6 billion in assets under management. OrbiMed's investment
advisory business was founded in 1989 with a vision to invest across the
spectrum of healthcare companies: from private start-ups to large
multinational companies. OrbiMed manages the Caduceus Private Investments
series of venture capital funds and a family of public equity investment
funds. Web site: http://www.orbimed.com
About Fidelity Biosciences
We are a division of Fidelity Investments, one of the world's leading
providers of financial services. For more than 30 years, Fidelity
Investments has been a significant presence in the venture capital and
private equity industry, investing the firm's own capital since 1969. This
provides us with the flexibility, and capabilities of traditional venture
capital firms while eliminating the additional pressures of fundraising.
The result is a clear focus on building long-term value for Fidelity, our
management partners, and co-investors.
Web site: http://www.fidelitybiosciences.com
About Aisling Capital
Aisling Capital is a dedicated life sciences private equity firm with
US $1 billion under management. Headquartered in New York, Aisling Capital
invests in both private and public companies utilizing a wide variety of
investment structures. The Aisling Capital team's combination of clinical,
operational and financial experience allows the firm to identify, execute
and realize investments across the life sciences industry.
Web site: http://www.aislingcapital.com
About Kearny Venture Partners With over $330 million in capital under
management, Kearny Venture Partners is a venture capital firm exclusively
focused on healthcare products. We believe that the opportunity for
entrepreneurs to devise innovative solutions in healthcare has never been
greater. Significant unmet needs in healthcare continue to persist,
representing large potential market opportunities for safe and effective
products. As the molecular basis of disease is increasingly unraveled, new
opportunities for intervention emerge. Novel therapies can and will
displace incumbent products.
Web site: http://www.kearnyvp.com
SOURCE ViewRay Incorporated
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Related links:
http://www.viewray.com
http://www.kearnyvp.com http://www.aislingcapital.com
http://www.fidelitybiosciences.com http://www.orbimed.com
CONTACT:
William Wells, Chief Executive Officer, of
ViewRay Incorporated, +1-678-469-6181, wwwells@viewray.com
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