ProCure Raises $35 Million

ProCure Treatment Centers Inc., a Bloomington, Ind.-based developer of a network of proton therapy centers for cancer patients, has raised $35 million in second-round funding from McClendon Venture Co. The company received a prior $35 million infusion from MVC and individual angels in December 2006.

 

PRESS RELEASE

ProCure Treatment Centers, Inc., (ProCure) which is developing a network of cancer treatment centers across the United States to deliver FDA-approved proton therapy, announced today it has received an additional $35 million round of equity funding from Oklahoma City-based McClendon Venture Company, LLC (MVC). MVC is owned by Aubrey K. McClendon, chairman and CEO of Chesapeake Energy Corporation, the country's third largest producer of natural gas and the most active explorer for clean-burning natural gas.

The $35 million investment represents the second major investment in ProCure by MVC and pushes the firm's total investment in the growing proton therapy treatment company to $70 million. ProCure received an initial $35 million investment from MVC and several related individuals in December 2006.

ProCure, which broke ground on April 9, 2007 on its first private practice, community-based proton therapy center in Oklahoma City, will use the funds to support its ongoing development activities and corporate operations.

“I have every reason to believe ProCure will become the gold standard for providing proton therapy to treat cancer in this country,” commented McClendon. “I remain impressed with the tremendous progress the company has made over the past 18 months led by the opening of the Training and Development Center in Bloomington and the start of construction on the Oklahoma ProCure Treatment Center, which is heading for completion in record time in the summer of 2009.”

ProCure's Training and Development Center (TDC), the first facility in the world dedicated exclusively to proton therapy training, opened in March. The TDC simulates all aspects of proton therapy treatment in a replica of a proton therapy treatment center without using actual protons. The Center provides clinical, technical, interpersonal and administrative training for the medical staff who will be involved with delivering the proton therapy treatment at ProCure's facilities.

“We greatly appreciate the continued support of Aubrey McClendon to help us make proton therapy widely accessible to cancer patients across the nation,” said Hadley Ford, ProCure's CEO and director. We are delighted to have a person of his caliber help us build the company and appreciate the confidence he has demonstrated in our growth strategies, mission, team and the promise of proton therapy through his continued investments.

About ProCure Treatment Centers, Inc.

Indiana-based ProCure Treatment Centers, Inc. was founded in 2005 by Dr. John Cameron, who played a pivotal role in the creation of one of the nation's first proton therapy treatment facilities, the Midwest Proton Radiotherapy Institute in Bloomington, Indiana. ProCure provides management support and a proven model for the complete design, construction, operation and maintenance of proton therapy treatment centers in an effort to make proton therapy accessible to everyone who would benefit from the treatment. For more information about ProCure Treatment Centers, Inc. please visit www.procurecenters.com.

Editor's Note: ProCure press materials are available at www.procurenews.com