RefleXion Medical, a therapeutic oncology company pioneering the use of biology-guided radiotherapy (BgRT) for all stages of cancer, closed a $125 million debt facility with Oxford Financial, of which $55 million is available immediately to repay the company’s existing $50 million of debt. The remaining $70 million of the new facility will be made available upon reaching certain regulatory and commercial milestones. The funds will support the continued commercialization of the RefleXion X1 platform and the introduction of RefleXion’s novel BgRT technology.
“We have again partnered with Oxford Finance to refinance our existing credit facility to lower our effective interest rate, increase access to additional funding and provide greater financial freedom as we approach the launch of our novel BgRT,” Martyn Webster, CFO at RefleXion Medical, said. “Among other things, these funds will allow us to expand our installation capacity and build a robust radiopharmaceutical program that will one day expand the clinical indications for BgRT to include advanced prostate and kidney cancers.”
“We are pleased to expand our commitment and continue supporting the RefleXion team through development and commercialization of RefleXion’s X1 radiotherapy platform and the introduction of its novel BgRT technology, which we believe has transformative potential for treating metastatic disease,” Christopher A. Herr, senior managing director at Oxford Finance, said.
