Oxford Finance, a specialty finance firm that provides senior debt to life sciences and healthcare services companies, has closed a $60 million senior secured term loan with RefleXion Medical, a biotargeting oncology company developing the first and only biology-guided radiotherapy (BgRT) machine for targeted cancer treatment.
The funds will support the completion of the FDA clearance process for its BgRT system and its subsequent commercial launch.
“We are very pleased to partner with Oxford Finance in this non-dilutive financing that enhances our cash position, provides financial flexibility and ensures we will achieve our commercialization objectives on terms that maximize long-term shareholder value,” said Martyn Webster, chief financial officer, RefleXion Medical. “Our biology guiding radiotherapy, which aims to treat all stages of cancer, has received an enthusiastic response from clinical and financial communities alike, and this partnership with Oxford reinforces belief in our clinical premise and commercial value proposition.”
Armentum Partners served as financial advisor to RefleXion Medical in connection with this financing.
