Monteris Medical Corporation, a Plymouth, MN-based developer of minimally invasive laser systems for the ablation of pathologic brain lesions such as primary and metastatic tumors, secured an approximately $30m Series B equity financing.
The round was led by new investor Birchview Capital of Burlington, VT, with participation from new investor The Vertical Group of Basking Ridge, NJ, and current investor BDC Capital Healthcare Fund. In conjunction with this financing, Matthew Strobeck, Ph.D., Partner at Birchview Capital, and Richard Emmitt, General Partner of The Vertical Group, will join Monteris’ Board of Directors.
The company intends to use the funds to expand both commercial and clinical programs for the Monteris NeuroBlate® robotic neurosurgical system.
Led by John Schellhorn, President and Chief Executive Officer, Monteris develops devices for minimally-invasive, MR-guided, robotically controlled neurosurgery. It markets the NeuroBlate® system for controlled, volumetric ablation of brain lesions. The company also offers the various Stereotactic anchoring devices for image-guided trajectory alignment, and the AtamA™ Stabilization System for MR based procedures requiring versatile head fixation.