Hancock Prospecting has invested USD $50 million in Lumitron, with the option to increase its funding to USD $100 million this year. This capital injection is dedicated to the commercial scale-up of Lumitron’s HyperVIEW platform, an advanced medical imaging and radiotherapy technology originally developed at Lawrence Livermore National Laboratory. As part of the agreement, Hancock retains the right to bring the first three systems of this kind to Australia, initiating a broader rollout of advanced clinical capabilities across the country.
The HyperVIEW platform represents the first fundamental change in clinical radiotherapy in 70 years and the first major shift in clinical X-ray radiography in 130 years. It functions as a compact, mono-energetic X-ray imaging machine capable of delivering ultra-high-resolution diagnostics. Peer-reviewed studies have shown that it achieves this superior clarity while utilizing a lower radiation dose than conventional imaging systems, significantly improving both the safety and speed of cancer detection. Highlighting its clinical promise, the US Food and Drug Administration has already granted Breakthrough Device Designation to Lumitron’s breast cancer imaging technology.
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Beyond advanced imaging, Hancock’s investment will directly fund the development of the first commercially focused Very High Energy Electron beam radiotherapy machine capable of delivering FLASH treatment. This high-precision, ultra-fast cancer therapy capability does not currently exist for commercial use. Crucially, while the physics driving this technology previously required sprawling, large-scale research infrastructure, HyperVIEW is engineered with a compact platform architecture. This allow the machines to fit seamlessly into existing clinical environments rather than requiring specialized, custom-built facilities.
To manage this commercial transition, Lumitron holds exclusive commercialization rights across more than 14 patent families. Hancock will nominate a representative to Lumitron’s board and place two members on a technical review committee, including biophysics and oncology drug-development expert Dr. Glenn Rice. Lumitron is actively collaborating with academic and clinical organizations, including the University of California, Irvine and Australia’s I-MED Radiology Network, to transition the technology from advanced development into active healthcare environments.
“We have developed unique laser and accelerator hardware capable of delivering world-leading X-ray and electron beam performance from a compact platform architecture,” said Dr Chris Barty, Co-Founder, Executive Director and Chief Technology Officer, Lumitron Technologies.
He added: “These are capabilities that have historically not been commercially available in deployable systems and have the potential to impact medicine, industry and scientific research.”
