ViewRay Inc. has announced it has secured $30 million in funding.

ViewRay, based in Cleveland, Ohio, is a privately held medical device company developing advanced radiation therapy technology for the treatment of cancer.

The funding came from existing equity investors Aisling Capital, Fidelity Biosciences, Kearny Venture Partners and OrbiMed Advisors and new investor Cowealth Medical Holding Co Ltd. Debt financing was provided by Hercules Technology Growth Capital.

The funding will go toward the commercialization of the ViewRay system, which is designed to improve the accuracy of cancer treatments through a combination of simultaneous MRI and radiation therapy delivery.