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The Virginia Small Business Financing Authority plans to issue $150 million in bonds for a cancer treatment facility at Hampton University that uses proton radiation to destroy cancers.

Gov. Timothy M. Kaine announced Monday that he has authorized the bonds.

Kaine says proceeds from the bonds will help finance construction and equipping of the Hampton University Proton Therapy Institute.

In December, the authority issued $70 million for the project.

Construction of the institute is expected to be completed in 2010. Kaine says the institute is expected to employ about 120 people and treat more than 2,000 patients per year.

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Hampton University Awarded $150 Million For Proton Therapy  was originally published on newsone.com

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