Bioscience Victory for Region

The following comes courtesy of Team NEO:

ViewRay Incorporated, a medical device manufacturer of the first, real-time image guided radiation therapy (IGRT) system, today announced a move of their headquarters from Gainesville, Florida to Cleveland. The company will hire 25 professionals within the first year and will fill 90 positions within three years. The company recently announced a $25 million Series B financing.

The venture investors advised the company to consider Cleveland as a potential location. According to ViewRay CEO William Wells, the company chose the Cleveland region after a careful review of several bioscience hotbeds, including Boston, Research Triangle, Atlanta, and the Bay Area. The company stated a key factor that led to their decision was the State of Ohio’s commitment to and infrastructure in supporting bioscience companies.

The ability to attract an emerging company like ViewRay to Northeast Ohio is a major achievement for the region's bioscience industry. Most of the region's leading bioscience companies (Invacare, Steris, Athersys, Ricerca, Phillips Medical, etc.) started here. When companies move here to be close to the bioscience-health care action it's a sign that our region is indeed a global leader in health care.

“Landing ViewRay represents a significant milestone for the region as venture firms advised a bioscience company to consider Cleveland as a part of their investment decision,” said Baiju R. Shah, President & CEO of BioEnterprise. “We look forward to continuing to work with ViewRay and their investors in developing their business.”

The company recruitment was a cooperative effort led locally by the State of Ohio, Team NEO, and BioEnterprise, and supported by local and state institutions and BioOhio.