Exploiting UChicago research, Reflexion is eyeing an expansion in Asia after receiving $40m in additional series D funding to bring the round to $150m.

Reflexion, a US-based oncology therapy technology developer partly based on University of Chicago research, secured $40m on Tuesday from healthcare-focused investment firm Ally Bridge Group to expand its series D round to $150m.
The company said it raised $110m of series D funding across 2020, including $100m from investors including Pfizer Ventures and Johnson & Johnson Innovation – JJDC, respective vehicles for pharmaceutical firms Pfizer and Johnson & Johnson, in April 2020.
Canada’s Public Sector Pension Investment Board led the April tranche, which also featured private equity group TPG’s The Rise Fund, KCK Group, Sofinnova Partners, Venrock and T Rowe Price.
Founded in 2009, Reflexion is developing biology-guided radiotherapy technology designed to treat multiple cancer tumours simultaneously. The company is also developing a similar technology that causes tumours to continuously reveal their location in the body.
Todd Powell, president and chief executive of Reflexion, said: “As we consider our Asia market entry strategy, the value of this strategic relationship with Ally Bridge is of paramount importance.
“Their experience investing in novel therapies approaching market entry will benefit us as we seek to establish a global footprint.”
Rise Fund led a $100m series C round for Reflexion in 2018 that also featured Pfizer Ventures, Johnson & Johnson Innovation – JJDC, T Rowe Price, Sofinnova Partners, KCK Group, Venrock and GT Healthcare Capital Partners.
Johnson & Johnson Innovation – JJDC provided $6m as part of the company’s $52m series B round, which closed in 2016, investing with Pfizer Ventures, Sofinnova Partners, KCK Group and Venrock.
Pfizer Ventures, Sofinnova Partners and Venrock had previously provided $11.6m for Reflexion’s series A round two years earlier.
– A version of this article first appeared on our sister site, Global Corporate Venturing.