Still River Systems, Inc. Secures $33 Million in Private Financing
LITTLETON, Mass., March 17 /PRNewswire/ -- Still River Systems, Inc., a provider of proton therapy solutions,announced today the closing of a private financing round of $33 million co-led by Venrock Associates and existinginvestor Caxton Health and Life Sciences, with participation by CHL Medical Partners.Proceeds from this financing will accelerate the development of the company's Monarch250 Proton Therapy System.Still River Systems is committed to advancing the field of radiation treatment by providing an affordable and accessibleproton therapy option for cancer patients. Still River Systems' current customers and industry partners include theSiteman Cancer Center at Barnes Jewish Hospital and Washington University School of Medicine in St. Louis, MO, oneof 21 members of the prestigious National Comprehensive Cancer Network and scheduled to install Still River System'sfirst proton therapy system this year. With unprecedented demand for proton therapy in recent years, other pendingdelivery sites include several of the most technologically advanced and influential providers in the radiation therapycommunity."Completion of this financing illustrates the investment community's confidence in Still River's business model and ourability to execute on our plan," said Marc Buntaine, Chief Executive Officer of Still River Systems. "Given today'seconomic environment, this strong financial support is a true endorsement of our growing leadership in the radiationtherapy marketplace. We are pleased with the continued participation of our existing investors and warmly welcome ournew investor partners, Venrock Associates and CHL Medical Partners." In conjunction with this financing, Dr. AndersHove of Venrock Associates and Dr. Myles Greenberg of CHL Medical Partners will join Still River Systems' Board ofDirectors.
About Venrock Associates
Venrock is a premier venture capital firm with offices in Palo Alto, New York, Cambridge, MA, and Israel. Originallyestablished as the venture capital arm of the Rockefeller family, Venrock continues a seven-decade tradition ofpartnering with entrepreneurs to establish successful, enduring companies. For more information, please visit Venrock'swebsite at
www.venrock.com
.
About CHL Medical Partners
CHL Medical Partners is a premier venture capital firm dedicated to partnering with entrepreneurs and inventors tocreate and finance innovative biotechnology, molecular diagnostic, healthcare service and medical device companies.For more information, visit
www.chlmedical.com
.
About Still River Systems
Still River Systems, based in Littleton, Massachusetts, is dedicated to providing physicians, and their patients, access tohigh quality, cost-effective proton therapy solutions. Still River Systems is developing the Monarch250, an affordable,precise and compact proton therapy system for cancer treatment. The Monarch250 has not been cleared by the USFood and Drug Administration for clinical use. For more information on Still River Systems and the Monarch250 ProtonTherapy System, please call 978-540-1500 or visit
www.StillRiverSystems.com
.
SOURCE Still River Systems, Inc.
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