ViewRay Inc, has secured $20 million in series C financing for the development of the image-guided radiation therapy ViewRay system. The funding was led by new investor Siemens Venture Capital (SVC) GmbH and joined by existing investors Aisling Capital, Fidelity Biosciences, Kearny Venture Partners, and OrbiMed Advisors

The ViewRay system attempts to improve the accuracy of cancer treatments through a combination of simultaneous magnetic resonance imaging (MRI) and radiotherapy delivery. The system is currently for nonclinical research only.

"MRI-guided radiotherapy has great potential, and we believe ViewRay has the technology and the team to bring it to fruition," Ralf Schnell, CEO, SVC, said in a press release.