Still River Systems' private financing round has helped the company raise $33 million for proton therapy solutions. Venrock Associates and current investor Caxton Health and Life Sciences co-led the funding round, which also involved CHL Medical Partners.

The Littleton, Massachusetts-based Still River Systems provides superior yet economical proton therapy solutions for physicians, as well as their patients. At present, the company's customers and industry partners include - the Siteman Cancer Center at Barnes Jewish Hospital, and Washington University School of Medicine in St. Louis, MO, which will be setting up the company's first proton therapy system this year.

The company is in the process of developing a reasonably-priced, accurate and compact proton therapy system - the Monarch250 - for cancer treatment. The new funding will enable Still River Systems speed up the development of the Monarch250, even though the system awaits clearance from the Food and Drug Administration for clinical use.

About the new raised funds, Marc Buntaine, CEO Still River Systems, said: "Completion of this financing illustrates the investment community's confidence in Still River's business model and our ability to execute on our plan. Given today's economic environment, this strong financial support is a true endorsement of our growing leadership in the radiation therapy marketplace!"