Varian Invests $15M in Augmenix

5/12/11Follow @xconomy

Palo Alto, CA-based Varian Medical Systems (NYSE: VAR), the supplier of radiation technology for treating cancer patients, said today it has agreed to make a $15 million equity investment in Waltham, MA-based Augmenix to obtain a minority ownership stake in the startup. Varian is also getting an exclusive option to acquire Augmenix if certain milestones are met. Augmenix’s technology is designed to make sure radiation therapy zeroes in exclusively on the prostate for men with prostate cancer, while avoiding healthy tissue nearby, in order to avoid side effects like impotence and incontinence.

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