dismiss

Clean Sweep Live Auction on Wed. May 1st. Click to view the full inventory

DOTmed Home MRI Oncology Ultrasound Molecular Imaging X-Ray Cardiology Health IT Business Affairs
News Home Parts & Service Operating Room CT Women's Health Proton Therapy Endoscopy HTMs Pediatrics
SEARCH
Current Location:
>
> This Story

Forward Printable StoryPrint Comment
advertisement

 

advertisement

 

More HCB News

FDA finds duodenoscope contamination risk still too high Up to 5.4 percent of properly collected samples has 'high concern' organisms

Israeli researchers develop first 3D heart from patient's biological materials A first — complete with blood vessels, ventricles and cells

Air medical transportation: How a 15-minute ride may cost $30,000, and how we can change it Reducing sky-high transport expenses

Using comic illustrations to support patient understanding of cardiac catheterization Making patients more satisfied, less anxious and more informed

X-ray sheds new light on ancient mummy The Everhart Museum in PA tapped Geisinger Radiology for help

Breaking barriers in Alzheimer’s disease with focused ultrasound Researchers at Sunnybrook in Toronto are closing the therapeutic gap

HHS releases second draft of TEFCA for nationwide interoperability Requirements for sharing electronic health information

Improving surgical outcomes by imaging head and neck tumors in real time Researchers use tech developed by Perimeter Medical Imaging

Future-ready medical devices - Answering the current and future needs of patients and users

Mastering microbes in the healthcare setting Killing bacteria, chemical-free

ViewRay raises $26.7 million for further innovation of MRI-guided radiotherapy system

Press releases may be edited for formatting or style
CLEVELAND, 23 July 2015 – ViewRay, Inc. (OTCQB: VRAY) announced today its successful completion of a reverse merger with ViewRay Technologies, Inc. The combined entity will focus solely on the business of ViewRay, the makers of MRIdian™, the world’s first and only MRI-guided radiation therapy system that images and treats cancer patients simultaneously. ViewRay will trade on the OTC Markets under the symbol “VRAY.”

ViewRay also announced today that it has consummated a private placement with gross proceeds of approximately $26.7 million for the issuance and sale of 5,340,704 shares of its common stock. Proceeds from the private placement will be used to support the ongoing commercialization of MRIdian™, for research and development related to continued product development activities, and for general corporate purposes, including working capital. Investors in the private placement included Aisling Capital, Fidelity, Kearny Venture Partners, Montrose Capital, OrbiMed and Xeraya Capital.

Story Continues Below Advertisement

Free Marketplace where Lenders Compete Get Pre-Approved for up to $500,000

Get financing today. We say YES more! Easy, Fast, Application. Pick the payment that best works for you. Tax Benefits + Leasing = Huge Savings! NEVER BE OBSOLETE. NO DOWN PAYMENT. FIXED MONTHLY PAYMENT. MRI, CT, Ultrasound, Digital X-ray, Dental Equipment



“ViewRay’s arrival on the public market and the associated financing in connection with the recent CRG debt funding enable us to expand commercially and drive toward profitability,” said Chris Raanes, ViewRay’s president and CEO. “Clinical usage of MRIdian™ has already demonstrated an exciting new way of visualizing and personalizing radiation therapy through the use of real-time MRI-guidance. Our recent transactions provide us up to approximately $76.7 million of financing and represent a significant milestone in our goal to make MRI-guided radiation therapy a standard of care for cancer patients around the world.”

In connection with the private placement, ViewRay has agreed, subject to certain terms and conditions, to file a registration statement under the Securities Act of 1933, as amended, covering the resale of the shares of common stock issued in the reverse merger and the private placement and in connection with the exercise of warrants issued to the placement agents, within 90 days after the closing. The shares of common stock issued or to be issued pursuant to the merger, the private placement and the placement agent warrants have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from the registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About ViewRay

ViewRay, Inc. is a medical device company developing advanced radiation therapy technology for the treatment of cancer. The MRIdian system provides continuous soft-tissue imaging during treatment, using MRI-guided radiation therapy, so that clinicians are able to see where the actual radiation dose is being delivered and adapt to changes in the patient’s anatomy.

ViewRay and MRIdian are trademarks of ViewRay.

ViewRay acknowledges the contribution of the State of Ohio, Department of Development and Third Frontier Commission, which provided funding in support of the MRI Technology Enabling Expansion of MRI into Radiotherapy Guidance Project.

Related:


You Must Be Logged In To Post A Comment

Advertise
Increase Your
Brand Awareness
Auctions + Private Sales
Get The
Best Price
Buy Equipment/Parts
Find The
Lowest Price
Daily News
Read The
Latest News
Directory
Browse All
DOTmed Users
Ethics on DOTmed
View Our
Ethics Program
Gold Parts Vendor Program
Receive PH
Requests
Gold Service Dealer Program
Receive RFP/PS
Requests
Healthcare Providers
See all
HCP Tools
Jobs/Training
Find/Fill
A Job
Parts Hunter +EasyPay
Get Parts
Quotes
Recently Certified
View Recently
Certified Users
Recently Rated
View Recently
Certified Users
Rental Central
Rent Equipment
For Less
Sell Equipment/Parts
Get The
Most Money
Service Technicians Forum
Find Help
And Advice
Simple RFP
Get Equipment
Quotes
Virtual Trade Show
Find Service
For Equipment
Access and use of this site is subject to the terms and conditions of our LEGAL NOTICE & PRIVACY NOTICE
Property of and Proprietary to DOTmed.com, Inc. Copyright ©2001-2019 DOTmed.com, Inc.
ALL RIGHTS RESERVED