Leo Cancer Care Raises $40M For Radiotherapy Treatment Systems

Leo Cancer Care, a manufacturer of upright radiotherapy treatment systems, announced it has raised $40 million in a funding round led by Catalio Capital Management. As part of the investment, Dr. Nicholas von Guionneau, an analyst at Catalio, was appointed to Leo's board as an observer.

The company develops upright radiation therapy products, including a real-time image-guided proton treatment system that eliminates the need for a gantry. Instead, it uses a fixed radiation beam combined with slow patient rotation in a seated or perched position. Leo Cancer Care also offers an upright particle therapy system that supports slow patient rotation, which allows for smaller treatment rooms. The newly raised funds will support the expansion of both its particle and photon therapy offerings. The company is expected to soon unveil a new photon therapy product designed for upright treatments, alongside new partnerships and multi-system orders.

“We are very excited to welcome Catalio as an investor,” said Stephen Towe, cofounder and CEO of Leo Cancer Care. “The trust and support of new and returning investors highlight the growing recognition of upright radiotherapy’s potential to improve patient experiences and expand access to advanced treatments globally.”

Earlier this month, Leo Cancer Care and medical technology company Sumitomo Heavy Industries introduced a new proton therapy configuration that combines Sumitomo’s compact cyclotron technology with Leo’s Marie upright treatment system, which includes patient positioning and CT imaging. In July, Leo’s flagship product, Marie, received 510(k) clearance from the U.S. Food and Drug Administration. Marie integrates upright patient positioning with CT scanning to lower the size and cost of particle therapy compared to existing solutions.

That same month, the company agreed to license its Audio Visual Therapeutic Ambience in/for Radiotherapy (AVATAR) system to Stanford Medicine. AVATAR is an immersive audio-visual distraction tool created to engage and calm children undergoing radiotherapy. Stanford Health Care had already installed Leo’s upright positioning and imaging technology within its Mevion S250-FIT Proton Therapy system.

The broader radiotherapy sector is also seeing activity. In April, GE HealthCare partnered with radiation therapy company Elekta to develop new software that enhances clinician experience and enables greater precision in treatment. Elekta is leveraging GE HealthCare’s MIM Software imaging management platform, which GE acquired earlier this month. MIM’s auto-contouring and treatment management features are expected to strengthen Elekta’s radiation oncology treatment capabilities.

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