Monteris Medical, a Plymouth, Minn.-based developer of minimally invasive, MRI-guided laser ablation systems for treating brain lesions, completed a $26.6m Series C financing.
The round was led by Versant Ventures and SightLine Partners, with participation from current investors Birchview Capital and BDC Capital’s Healthcare Venture Fund.
The company intends to use the funds for R&D, clinical research, and commercial expansion.
Led by Martin J. Emerson, President & CEO, and Jim Erickson, CFO, Monteris Medical markets MRI-guided, laser-based systems for the ablation of brain lesions. The Monteris NeuroBlate® System, including the Mini-Bolt, is a minimally invasive cranial access system that enables a robotic interface for the precise and safe delivery of laser energy. Since receiving FDA clearance in 2013, NeuroBlate has been used in more than 1,200 patient procedures across more than 50 installed systems in the U.S. and Canada. The system is a tool (as opposed to a treatment) and is not intended to treat any specific disease.