Navigation Links
Leading Private Venture Capital Firms Invest $45 Million in Mevion Medical Systems
Date:1/24/2012

LITTLETON, Mass., Jan. 24, 2012 /PRNewswire/ -- Mevion Medical Systems announced today that it has closed a $45 Million investment from ProQuest Investments and its existing investors, including Caxton Heath Life Sciences, Venrock and CHL Medical Partners.  Mevion is the manufacturer of the MEVION S250 Proton Therapy System. The capital will be used to accelerate the manufacturing and worldwide deployment of the MEVION S250.

Proton beam radiation therapy permits more precise dose targeting by complete proton absorption at predictable tissue depth, allowing the treatment of target volumes adjacent to critical structures without inadvertent dose to sensitive structures.   The availability of proton therapy has remained very limited however, due to the enormous cost, large footprint, and technical complexity of traditional proton systems.  Powered by a TriNiobium Core™, the MEVION S250 significantly reduces the cost, size and complexity to levels similar to other modern X-ray radiation therapy devices, and brings accessibility, affordability and practicality to proton therapy.

"We welcome the new endorsement by ProQuest Investments and the continuing support of our existing financial partners," said Joseph K. Jachinowski, Chief Executive Officer of Mevion Medical Systems.  "With delivery of our first system complete and with two additional systems now under installation, this investment will support the growing demand for our innovative technology. We are also pleased to welcome Mr. Jay Moorin of ProQuest Investments onto the Mevion Medical Systems' Board of Directors," stated Jachinowski.

The MEVION S250 Proton Therapy System has not yet been cleared by the United States Food and Drug Administration for clinical use.

About ProQuest Investments
ProQuest is a healthcare venture capital firm with offices in Princeton, San Diego and Montreal. ProQuest invests in healthcare companies seeking financings from seed to late-stage. ProQuest's portfolio reflects the rich diversity of the healthcare industry and exemplifies our commitment to fostering the growth of exceptional businesses. For more information, please visit ProQuest's website at www.proquestvc.com.

About Venrock
Venrock is a premier venture capital firm with offices in Palo Alto, New York, Cambridge, MA, and Israel.  Originally established as the venture capital arm of the Rockefeller family, Venrock continues a seven-decade tradition of partnering with entrepreneurs to establish successful, enduring companies.  For more information, please visit Venrock's website at www.venrock.com

About CHL Medical Partners
CHL Medical Partners is a premier venture capital firm dedicated to partnering with entrepreneurs and inventors to create and finance innovative biotechnology, molecular diagnostic, healthcare service and medical device companies. For more information, visit www.chlmedical.com.

About Mevion Medical Systems
Mevion Medical Systems, Inc. (formerly Still River Systems, Inc.) is a radiation therapy company dedicated to advancing the treatment of cancer. As the pioneering developer of modern proton therapy systems, Mevion provides innovative, safe, and effective solutions by transforming advances in medical technology and science into practical clinical reality.

Mevion's flagship product, the MEVION S250 Proton Therapy System, is designed to preserve all of the treatment benefits of traditional proton therapy systems while removing the obstacles of size, cost, and complexity. Realizing this vision, Mevion has forever changed the economics and accessibility of proton therapy worldwide.

Founded in 2004, Mevion is a privately held company headquartered in the Boston metropolitan area with international offices in the United Kingdom and Japan.

Visit us at: www.mevion.com.


'/>"/>
SOURCE Mevion Medical Systems
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Progen Engages Leading CRO to Assist with Phase 3 Trial of PI-88
2. Zila Inc. Product Selected to Identify Pre-Cancer in Study of Leading Cancer Treatment Chemotherapeutic - ERBITUX
3. Positive Xeloda(R) Five-Year Overall Survival Study Data in the Adjuvant Treatment of Colon Cancer Presented at Leading European Cancer Meeting
4. Influenza is Leading Cause of Vaccine-Preventable Deaths for Kids; Despite CDC Recommendations, Moms Still Dont Vaccinate
5. Leading Physicians Present Interim Results from Multi-Center Studies of VNUS ClosureFAST Catheter at VEITHsymposium
6. PAREXEL Expands Late Phase Clinical Research Services and Appoints Leading Pharmacoepidemiology Expert Victor Kiri
7. Cleveland Clinic Leading Clinical Program to Improve Early-Stage Lung Cancer Detection
8. Leading AIDS Groups Turn Up The Heat on 08 Presidential Candidates
9. Clinical Experience With Peregrines Anti-Cancer Agent Bavituximab Presented at Leading Symposium on Anti-Angiogenic Agents
10. Most Back Pain Could Be Cured Without Surgery or Drugs if Doctors Treated Muscles - Not the Spine - Says Leading Pain Specialist
11. Study in JAMA Shows Patients Treated With Abbotts XIENCE(TM) V Drug Eluting Stent Experience Better Outcomes Than Patients Treated With Market-Leading Drug Eluting Stent
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/12/2016)... Ky. , Feb. 12, 2016 /PRNewswire/ ... has completed a $47.1 million Series D ... Cormorant Asset Management, Hillhouse Capital Group and ... Morningside Venture Investments, AJU IB Investment, and ... be used to further advance clinical trials ...
(Date:2/11/2016)... , Feb. 11, 2016 Stem cells are ... characterized by self-renewal and the capacity to differentiate into ... new discovery, as the first mouse embryonic stem cells ... not until 1995 that the first culturing of embryonic ... cells were not produced until 2006 As a result ...
(Date:2/11/2016)... 11, 2016  Governor Andrew M. Cuomo today announced ... jobs throughout Western New York . ... SUNY Polytechnic Institute, includes a major expansion of Athenex,s ... Buffalo , as well as the creation ... Dunkirk . The combined projects are ...
Breaking Medicine Technology:
(Date:2/12/2016)... ... , ... Planet Future is a Final Cut Pro X themed ... showcasing pictures, videos as well as text in an exciting cartoon environment. Planet Future ... a beautiful frame overlay. Pixel Film Studios makes editing easy; simply insert media into ...
(Date:2/11/2016)... ... 12, 2016 , ... Fitbody Personal Training offers outdoor training classes which includes ... get fit and healthy. Located in Phoenixville, PA, the classes are structured as fun ... horseback riders who want to lose weight and tone up. This class offers a ...
(Date:2/11/2016)... ... 11, 2016 , ... SPH Analytics announced today that ... health solutions, MDinsight® and IndiGO®, for its primary care clinicians. The 3-year partnership ... the contract were not disclosed. , As the healthcare market moves towards quality-based ...
(Date:2/11/2016)... ... February 11, 2016 , ... Dr. Sadati’s recent ... cosmetic procedures. Along with performing procedures, the magazine also highlights that Dr. Sadati ... procedures. One of the most common procedures he performs is his natural facelift. ...
(Date:2/11/2016)... Nashville, TN (PRWEB) , ... February 11, 2016 , ... ... commercial cleaning business to a new market, and it’s the buildings of Nashville that ... much that when I needed to relocate to Nashville, there was no question that ...
Breaking Medicine News(10 mins):