Morris, Manning & Martin represented medical device manufacturer ViewRay Inc. in closing a $25 million Series B financing round.

The financing was led by OrbiMed Advisors and Fidelity Biosciences, and was joined by Aisling Capital, and Kearny Venture Partners. The MMM team included Rick Haury and Scott Allen.

Founded in 2004, ViewRay is focused on the development of a real-time magnetic resonance imaging (MRI) guided radiation therapy device for the treatment of cancer patients. ViewRay says the deal is a testament to the promise of its technology to help cancer patients, and will allow the firm to accelerate development of the first device to promise real-time volumetric imaging simultaneous with radiation treatment.

The ViewRay Renaissance(TM) System 1000 technology was invented by James F. Dempsey, Ph.D., associate professor in the Department of Radiation Oncology at the University of Florida and has been exclusively licensed by the Company from the University of Florida. Proceeds from the Series B financing will be used to further build the ViewRay Incorporated team and manufacture and validate advanced prototypes of the Renaissance(TM) System 1000.

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