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:10/11/2017)... FRISCO, Texas , Oct. 11, 2017 /PRNewswire/ ... healthcare services, has amplified its effort during National ... patients about hereditary cancer risks. ... Journal of Clinical Oncology calculated that more than ... to have inherited mutations in BRCA1 or BRCA2 and ...
(Date:10/10/2017)... Calif. , Oct. 10, 2017  NDS received FDA 510(k) ... — a medical-grade battery-powered display stand specifically designed for endoscopy environments. ... transform technology into a clinical solution to support the improvement of ... Innovative Design ... Mobile Wireless Solution ...
(Date:10/7/2017)... Oct. 6, 2017   Provista, a proven ... $100 billion in purchasing power, today announced a new ... The Newsroom is the online home for ... infographics, expert bios, news releases, slideshows and events. ... a wealth of resources at their fingertips, viewers can ...
Breaking Medicine Technology:
(Date:10/12/2017)... ... 12, 2017 , ... IsoComforter, Inc. ( https://isocomforter.com ), one of ... innovative new design of the shoulder pad. The shoulder pad provides optimal support ... your pain while using cold therapy. By utilizing ice and water that is circulated ...
(Date:10/12/2017)... , ... October 12, 2017 , ... ... delivery system that we intend to develop to enable prevention of a major ... to severe hearing loss, especially in pediatric patients. For cisplatin, hearing loss is ...
(Date:10/12/2017)... ... October 12, 2017 , ... Leading pediatric oncology experts at ... D.C., for the 49th Congress of the International Society of Paediatric Oncology ... the Center for Cancer and Blood Disorders at Children’s National, and Stephen ...
(Date:10/12/2017)... ... , ... Health Literacy Innovations (HLI), creator of the Health ... Cancer Patient Education Network (CPEN), an independent professional organization that shares best practices ... , As CPEN’s strategic partner, HLI will help support CPEN members by ...
(Date:10/12/2017)... ... 12, 2017 , ... Farm Forward joins Bon ... leading institutions in announcing the launch of the Leadership Circle , a ... are raised for food. , Founding members of the Leadership Circle also include ...
Breaking Medicine News(10 mins):