Lausanne – RefleXion and Sofinnova Partners received the “Salus Partner Excellence in HealthTech Award” at the Convergence in Oncology Summit in Lausanne, Switzerland. The prize recognizes RefleXion and Sofinnova Partner’s vision and excellence in developing the disruptive biology-guided radiotherapy (BgRT)* for treatment of cancer patients.
RefleXion is a growth-stage medical technology company with a disruptive radiotherapy solution for cancer patients. Recently the FDA cleared the company’s X1 machine for conventional radiotherapy for early stage cancers. The company’s next milestone centers on regulatory clearance for BgRT, which aims to open the path for more efficient and effective treatment of late stage cancer or metastatic disease.
“Thanks to the bold vision of RefleXion’s founding team and the experience of its early investors, millions of cancer patients will benefit from this disruptive solution for years to come,” says Dr. Brian Hashemi, Co-Founder of the Convergence in Oncology Summit and Managing Partner of the investment firm Salus Partners SA in Lausanne, Switzerland. “Today we celebrate the ambitious achievements of this team, which was fueled by the deep expertise of its seed investor in nurturing the early stage startup to success.”
“I first began to think about this idea at a lecture on radiation physics at Stanford; to use positron emission tomography or PET emissions – produced by the tumor itself – to guide delivery of radiation directly to the tumor,” said Sam Mazin, Ph.D., Founder and CTO of RefleXion. “We believe that our biology-guided radiotherapy or BgRT will expand treatment options for patients in all stages of cancer, but particularly those with metastatic disease. We would like to thank our clinical consortium and early adopter clinicians for their guidance and dedication to developing the clinical premise, data and workflow for BgRT. It is an honor to have this important body of work recognized by the 2020 Salus Excellence in HealthTech Award.”
Upon receiving the award Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners said “We are honored to be recognized alongside RefleXion for their pioneering work in radiation oncology. As the first institutional investor in the company, we were immediately captivated by the vision and determination of the co-founders, Sam Mazin and Akshay Nanduri. Over the past decade we have helped nurture the potential of RefleXion’s ground-breaking innovation and it is incredibly rewarding to see the results of this work becoming a reality.”
Previous winners of the award have experienced tremendous momentum: 2019 winner ADC Therapeutics is making progress in clinical development of its pipeline and was listed on the NASDAQ in May 2020 with a current market cap of USD 3bn. 2018 winner Sophia Genetics has become the global leader in accelerating the democratization of Data-Driven Medicine with over 850 hospitals across 77 countries leveraging SOPHiA AI to support the diagnosis of over 300,000 patients. Other winners of the award include Endosense, acquired by St. Jude for $330mm, Sapiens acquired by Medtronic for USD200mm, and the 2016 award winner, Molecular Partners on the Swiss Stock Exchange with a market cap of CHF 430mm.
*The RefleXion BgRT requires 510(k) clearance; this feature is not available for sale.
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Based in Paris, France, with offices in London and Milan, the firm brings together a team of 40 professionals from all over Europe, the U.S. and Asia. The firm focuses on paradigm-shifting technologies alongside visionary entrepreneurs. Sofinnova Partners invests across the Life Sciences value chain as a lead or cornerstone investor, from very early-stage opportunities to late-stage/public companies. It has backed over 500 companies over more than 48 years, creating market leaders around the globe. Today, Sofinnova Partners has over €2 billion under management. For more information, please visit: www.sofinnovapartners.
About Salus Partners SA
Salus Partners SA is a Swiss asset management firm based in Lausanne, and Zurich, Switzerland. The company has a special expertise in proven health technologies and seeks to generate exceptional returns while bringing good outcomes to society. For more information, please visit: www.saluspartners.com
About Convergence in Oncology Summit
The Convergence in Oncology Summit is an international annual assembly of industry leaders, entrepreneurs, and investors dedicated to exploring synergies that accelerate the development of the most promising solutions for improved patient outcomes.