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Oxford Finance Closes $125MM Debt Facility for RefleXion Medical

July 07, 2022, 07:51 AM
Filed Under: Medical
Related: Oxford Finance

RefleXion Medical, a therapeutic oncology company pioneering the use of biology-guided radiotherapy (BgRT)* for all stages of cancer, announced the closing of a $125M debt facility, of which $55M is available immediately to repay the company’s existing $50M of debt. The remaining $70M 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,” said Martyn Webster, chief financial officer at RefleXion Medical. “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,” said Christopher A. Herr, senior managing director at Oxford Finance.

Recently RefleXion announced a co-development agreement with Telix Pharmaceuticals to develop a new indication for Telix’s novel prostate surface membrane antigen (PSMA) targeted diagnostic PET radiotracer to include use with BgRT. Earlier this month, the company also hosted its first cancer symposium that included clinicians from 30 of the top cancer care programs in the United States.

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