Monteris Medical Raises $9M in Funding

Monteris Medical Inc., a Winnipeg, Manitoba, Canada-based medical device company dedicated to the development of innovative MRI guided, laser-based cancer treatments, has raised $9m in funding.

The round was led by Business Development Bank of Canada (BDC), with participation from the SWMF Life Science Fund, a group assembled by Richardson GMP and a number of independent parties.

The company intends to use the capital for the continued commercialization of its NeuroBlate™ System (formerly AutoLITT®) within the North American neurosurgery market.

Formed in 1999 and led by John E. Schellhorn, President & Chief Executive Officer, Monteris Medical markets the NeuroBlate™ System, a neurosurgical ablation system providing controlled therapy for difficult-to-treat brain tumors, the AXiiiS® Stereotactic Miniframe, a single use platform for image-guided, stereotactic brain biopsy, and the AtamA™ Stabilization System for MRI-guided neurosurgical procedures that require rigid head fixation.



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