Intraoperative radiation therapy device manufacturer IntraOp Medical reported that it has received $5.4 million of new equity and arranged for the extinguishment of more than $8.7 million of notes and payables. In addition to the capital restructuring, a new president and CEO has been named, and a new board of directors has been appointed.
IntraOp’s flagship product is the Mobetron, a portable, self-shielding electron-beam linear accelerator designed for use in an operating room.
John Powers, the new CEO and president of IntraOp, has more than 20 years of experience in the wireless industry, including executive posts at metroPCS, VelociTel, Crown Castle International, and Motorola, according to the Sunnyvale, Calif.-based IntraOp.
Donald Goer, PhD, former president and CEO of IntraOp, is now the firm’s chief scientist.
IntraOp’s new board of directors consists of Powers; chairman Oliver Janssen of Hultquist Capital; Rawleigh Ralls of Lacuna Gap Capital; Greg Koosman of VMG Health; and former board members Keith Jacobsen, Steven Kessler and Michael Friebe, PhD.