Australian-backed investment to support global commercial scale-up of HyperVIEW™ across healthcare and mining industrial applications
Australia, June 2026 – Hancock Prospecting has provided an initial US$50 million investment into Lumitron, with the right to increase its investment to US$100 million during the 2026 calendar year. The funding will support the commercial scale-up and deployment of the company’s HyperVIEW™ Very High Energy Electron (VHEE) beam and advanced X-ray technology platforms across cancer care, healthcare, mining and industrial applications.
The investment positions Hancock Prospecting as a strategic investor as Lumitron accelerates toward global commercialisation. As part of the agreement, Hancock Prospecting has nominated a representative to the Lumitron board to support collaboration and commercialisation initiatives across priority markets.
Hancock has two members on the technical review committee, including Dr. Glenn Rice, a biophysics and oncology drug-development expert (former COO and President of Pharmacyclics; Stanford Research Institute; and Genentech). And Hancock Prospecting is particularly pleased to have secured the right to bring three of these advanced systems to Australia. These will be the first three of such vitally important and massively improved cancer detection and treatment systems to come to Australia.
Dr Rice stated, “Lumitron has developed HyperVIEW™, a world-first platform of imaging systems and electron beam radiotherapy machines designed to deliver ultra-high-resolution X-ray imaging and VHEE beam radiotherapy capability within a compact architecture, deployable in existing clinical environments.
“Lumitron represents the first fundamental change in clinical radiotherapy in 70 years, and the first fundamental change in clinical and industrial X-ray radiography in 130 years.”
Lumitron hardware and clinical capability
Dr Rice explained further, “built on patented laser-Compton physics originally developed at the world-renowned Lawrence Livermore National Laboratory, HyperVIEW™ is designed to deliver capabilities traditionally associated with
large-scale research infrastructure in a compact system suitable for broader clinical and industrial deployment.”
“Recent peer-reviewed studies have identified HyperVIEW™ as the world’s highest-resolution commercial compact mono-energetic X-ray imaging machines. Depending on the hardware configuration, the technology can deliver between 100 and 1000 times greater imaging resolution than conventionally produced X-ray systems, with up to 100 times lower radiation dose than existing technologies.
“This higher resolution will improve early cancer detection and the precision of treatment. Its VHEE beam radiotherapy capability has been developed to deliver highly localised radiation treatment in less than a heartbeat, whilst reducing damage to healthy tissue.
“The U.S. Food & Drug Administration (FDA) granted Breakthrough Device Designation to Lumitron’s HyperVIEW™ breast cancer imaging technology. Studies published in the peer-reviewed journal Medical Physics demonstrated clinically significant (breast compression-free) imaging performance improvements of more than 3000 per cent across breast cancer imaging metrics compared with leading clinical systems from leading OEMs.
“Additional peer-reviewed research published in Frontiers in Physics demonstrated new records in laser-Compton X-ray output, high-resolution X-ray imaging capability, and very high energy electron (VHEE) FLASH radiotherapy capabilities achieved through the HyperVIEW™ platform”, Dr Rice concluded.
Applications across healthcare and the mining industry
Mrs Rinehart added, “In healthcare, HyperVIEW™ has been developed for advanced medical imaging and precision radiotherapy applications designed to greatly improve the speed and accuracy of cancer detection and treatment. Hancock Prospecting’s investment will support Lumitron to develop its first commercially focused VHEE FLASH radiotherapy machine, a capability that does not currently exist for commercial use.”
Maurie Stang, Co-Founder and Executive Chairman of Lumitron Technologies, noted, “We greatly welcome Mrs Rinehart’s and Hancock’s participation. Hancock’s funding will enable Lumitron to produce the first commercially focused VHEE FLASH machine.”
Mrs Rinehart added, “In mining and resources applications, HyperVIEW™ is designed to go beyond conventional industrial X-ray systems, which are typically limited to analysing the shape and density of materials. HyperVIEW™ has the potential to identify the composition and concentration of minerals and contaminants in ore, allowing mining operators to selectively process higher-value ore, thereby improving recovery rates while potentially reducing energy consumption and overall processing costs.”
Dr Rice added, “In future advanced manufacturing and 3D additive manufacturing applications, HyperVIEW™ is designed to detect microscopic structural defects at scales as small as one twentieth the width of a human hair in real time, supporting quality assurance and material analysis.
Commercialisation and strategic partnerships
“Lumitron has developed unique capabilities and intellectual property in ultrafast lasers and compact accelerators. It holds exclusive commercialisation rights to core intellectual property underpinning the HyperVIEW™ platform, comprising a licensed patent portfolio spanning more than 14 patent families,” Dr Rice said.
Dr Chris Barty, Co-Founder, Executive Director and Chief Technology Officer of Lumitron Technologies, said the company had spent nearly a decade developing proprietary hardware and manufacturing capability required to commercialise the platform.
“We have developed unique laser and accelerator hardware capable of delivering world-leading X-ray and electron beam performance from a compact platform architecture,” Dr Barty said.
“These are capabilities that have historically not been commercially available in deployable systems and have the potential to impact medicine, industry and scientific research.”
Mrs Rinehart continued, “The company is engaged with major U.S. scientific and government research organisations, including the United States Department of Energy and the Defence Advanced Research Projects Agency (DARPA), alongside academic and clinical organisations, including the University of California, Irvine and Australia’s I-MED Radiology Network. Hancock Prospecting’s investment reflects our view that Lumitron Technologies has developed an advanced technology platform with applications spanning healthcare, mining research, and advanced manufacturing. I am especially excited about the potential to help patients in Australia and overseas who are suffering from up to stage 4 cancer, after the equipment has been approved for use in Australia. Which I sincerely hope will not be delayed.”
Leadership commentary
Mr Stang said the investment marks a major milestone in the company’s transition to commercial deployment.
“This investment represents a significant step for Lumitron as Hancock Prospecting joins our sophisticated investor base supporting the company’s transition from advanced development into commercial scale-up,
“Hancock Prospecting is one of the world’s leading private mining and investment companies, with a long history of backing large-scale, globally significant projects, and its chairman, Gina Rinehart has a long term keen interest in helping patients suffering from cancer, so we are extremely pleased to have Mrs Rinehart and her private company, on board as a strategic investor, and as a board member, and also adding 2 members to our technical committee.
“We believe HyperVIEW™ represents one of the most significant advances in commercial X-ray and radiotherapy technology in more than a century, providing a new generation of imaging and therapy platforms.
“Capabilities traditionally associated with large-scale research infrastructure are now being developed in a platform designed for broader clinical and industrial deployment.
“We see substantial long-term opportunities across healthcare, mining, and advanced manufacturing applications as demand increases for more precise imaging, treatment, analysis and assay capability.” Mr Stang said.
Professor Ian Plimer, who is also joining the technical review committee, noted, “Over many years, Mrs Rinehart has actively supported patient care packages, breast cancer patient services, research initiatives and awareness campaigns, and led world-first initiatives including pink mining trucks, pink trains, pink mining equipment, pink whims plants, pink PPE and even some pink ships, to help raise awareness and support for those impacted by breast cancer and its associated cancers.”
“Indeed, it was Mrs Rinehart who established Australia’s first dedicated breast cancer foundation and our nation’s first National Breast Cancer Day in the early 1990s.
“We believe HyperVIEW™ represents a potentially generational advancement in imaging and radiotherapy capability, with the potential to support earlier detection, more precise treatment and better patient outcomes.
“At the same time, we see very exciting opportunities for the technology across mining, manufacturing and scientific research, particularly as industries increasingly look for more advanced imaging, analysis and assay capabilities.
“This investment will support and ensure the future rollout of advanced imaging and radiotherapy capability across Australia”, Prof Plimer concluded.
About Lumitron Technologies
Lumitron Technologies is a transformational deep technology company developing the HyperVIEW™ platform, a suite of advanced laser-based X-ray and Very High Energy Electron (VHEE) systems designed for applications in healthcare, mining and industrial inspection.
The company’s technology is based on patented laser-Compton physics, originally developed at the prestigious Lawrence Livermore National Laboratory, enabling
high-precision imaging and radiation capabilities in a compact, commercially deployable system.
HyperVIEW™ has been developed for use in precision cancer therapy and advanced medical imaging, as well as industrial applications requiring high-resolution, non-destructive analysis, including mining and materials inspection.
Lumitron was co-founded by Maurie Stang and Dr Chris Barty, Executive Director and Chief Technology Officer, who invented the core laser-based technologies underpinning the HyperVIEW™ platform and has led the development of the company’s proprietary laser, accelerator and advanced hardware manufacturing capabilities.
The company is headquartered in Irvine, California, with investor and commercial engagement in Australia and the United States.
About Hancock Prospecting
Hancock Prospecting and its related companies are Australia’s largest and most successful private companies, with major interests across iron ore, agriculture, critical minerals, energy, retail and emerging technologies. Led by Executive Chairman Mrs Gina Rinehart AO, Hancock has helped shape Australia’s resources sector and is a pioneer of the nation’s iron ore industry.
Mrs Rinehart was the founder of both National Mining and Related Industries Day and National Agriculture and Related Industries Day, on November 22 and 21 respectively.
Hancock’s flagship assets include its majority-owned US$10 billion Roy Hill mine, one of Australia’s largest iron ore operations, alongside Atlas Iron, its founding 50 per cent share in the Hope Downs mines and project pipeline, rare earths, copper, gold, and other minerals. Through Hancock Agriculture and S. Kidman & Co, Hancock is also one of Australia’s largest and most historic pastoral owners and operators, and among the nation’s longest continuous owners of cattle stations. It has also expanded into Australian heritage brands, including Driza-Bone, Rossi Boots and Kidman apparel.
Through Senex Energy, Hancock is helping deliver major new domestic gas supply, supporting more than 10 per cent of east coast demand. Beyond business, Hancock has contributed hundreds of millions of dollars to veterans, hospitals, education, regional and sporting initiatives, including more than $200 million for housing homeless Australian veterans, support for cancer research and treatment, the Royal Flying Doctor Service, and the Cat Haven.
Hancock is also Australia’s largest ever private supporter of Olympic and Paralympic athletes, with Mrs Rinehart being the Patron of several of Australia’s international sporting teams, as well as Executive Chair of Roy Hill, now renamed, Hancock Iron Ore, and as executive chair, introduced, pink mining trucks, pink mining equipment and pink PPE, a mining world-first, raising awareness and funds for breast cancer initiatives.
Across its operations, Hancock has contributed tens of billions of dollars through exports, royalties, taxes, wages, procurement, regional investment, and worthwhile charities, while supporting thousands of jobs across regional and remote Australia and opening up opportunities for many.
Media Contacts:
Janete Sampaio | 0417 188 842 | media@lumitronxrays.com
James Radford | james@hancockprospecting.com.au
