Local funds behind Mevion Medical's $200M China JV aimed as country's first proton therapy system

U.S.-based proton therapy system maker Mevion Medical Systems has secured as much as $200 million in financing led by two Chinese Investors, HOPU Investments and YuanMing Capital. In addition to the investment, Mevion and the lead investors will form a joint venture to make, sell and service proton therapy systems for the Chinese market. In Asia, cancer centers in Japan, Taiwan, and South Korea offer proton therapy with services planned in Singapore, placing the joint venture in a unique spot in China which has championed local manufacturing of high-end medical devices. Mevion did say in an SEC filing that it has already filed with Chinese regulators for approval of its Mevion S250 proton system that the product is the only modular, single-room proton therapy system on the market. In May, HOPU was among a heavyweight consortium of Chinese biomedical and healthcare funds that acquired San Diego-based biotech Ambrx. Release