Still River Systems, a provider of proton therapy solutions, has announced the closing of a private financing round of USD33m co-led by Venrock Associates and existing investor Caxton H
Still River Systems, a provider of proton therapy solutions, has announced the closing of a private financing round of USD33m co-led by Venrock Associates and existing investor Caxton Health and Life Sciences, with participation by CHL Medical Partners.
Proceeds from the financing will accelerate the development of the company’s Monarch250 Proton Therapy System.
Still River Systems is committed to advancing the field of radiation treatment by providing an affordable and accessible proton therapy option for cancer patients.
Current customers and industry partners include the Siteman Cancer Center at Barnes Jewish Hospital and Washington University School of Medicine in St. Louis, MO, one of 21 members of the National Comprehensive Cancer Network and scheduled to install Still River System’s first proton therapy system this year.
‘Completion of this financing illustrates the investment community’s confidence in Still River’s business model and our ability to execute on our plan,’ says Marc Buntaine, chief executive officer of Still River Systems. ‘Given today’s economic environment, this strong financial support is a true endorsement of our growing leadership in the radiation therapy marketplace. We are pleased with the continued participation of our existing investors and warmly welcome our new investor partners, Venrock Associates and CHL Medical Partners.’
In conjunction with the financing, Dr Anders Hove of Venrock Associates and Dr Myles Greenberg of CHL Medical Partners will join Still River Systems’ board of directors.
