RefleXion Announces Initial Close of $105M Fundraising to Commercialize New Cancer Treatment

November 15, 2023

Funds will allow further commercial penetration and new application development

HAYWARD, Calif., Nov. 15, 2023 – RefleXion Medical, a therapeutic oncology company, today announced the initial closing of a $105M equity raise, led by The Rise Fund, TPG’s multi-sector global impact investing strategy. 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.

“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.

We are delighted to see RefleXion reach a stage where they can accelerate their impact and deliver treatment and outcomes at scale.

Matthew Hobart
Co-Managing Partner of TPG Growth

“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.

About RefleXion Medical

RefleXion is a privately held therapeutic oncology company located in Hayward, Calif., commercializing SCINTIX biology-guided radiotherapy, a novel therapy that uses a single radiotracer injection to transform cancer cells into real-time biological beacons to control external-beam radiotherapy delivery to multiple tumors. Granted Breakthrough Device designation for lung tumors, and De Novo marketing authorization by the FDA, SCINTIX therapy is indicated for use in FDG-guided treatment of lung and bone tumors arising from either primary lung and bone cancers or resulting from metastases by other primary cancers. The RefleXion X1 is also cleared for image-guided external-beam radiotherapy for solid tumors located anywhere in the body.

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