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ÀÛ¼ºÀÏ : 13-03-08 18:00
VIEWRAY SECURES ANOTHER $16 MILLION FROM INVESTORS
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By CHUCK SODER
11:43 am, March 13, 2012

Existing investors in ViewRay Inc. have pumped another $16 million into the medical imaging company based in Oakwood Village to help it accelerate sales of its first product later this year.


 

ViewRay will use the money to hire people in sales, marketing and service positions, said chief financial officer David Chandler.


Though one customer already is using ViewRay's MRI-guided radiation therapy system for research purposes, the company is preparing for a broader product launch, Mr. Chandler said. The company is waiting for the U.S. Food and Drug Administration to give it 510(k) approval to sell its system for use on patients.

ViewRay is well-capitalized for the product launch, said Mr. Chandler, noting that the company has raised $45 million since 2010.

ViewRay employs nearly 50 people, almost all of whom work in Northeast Ohio, and it likely will hire 12 to 15 more employees this year, Mr. Chandler said.

The company already has installed its system at Barnes-Jewish Hospital and Washington University School of Medicine in St. Louis. The company plans to install the system at two other universities later this year, Mr. Chandler said. All three sites will use the machines for research purposes, but they also will use them on patients should the FDA approve ViewRay's application.

The company assembles the product, which closely resembles a standard MRI machine, on the customer's site.

ViewRay's existing investors include Aisling Capital of New York, Fidelity Biosciences of Cambridge, Mass., Kearny Venture Partners of San Francisco, OrbiMed Advisors LLC of New York, Siemens Venture Capital Gmbh of Germany, and several individuals.