GT Medical Technologies, a Tempe, AZ-based medical device company, raised $45M in Series C funding.
The round was led by Gilde Healthcare Partners with participation from MVM Partners, MedTech Venture Partners, and BlueStone Venture Partners.
The company intends to use the funds to support the expanded commercialization of GammaTile Therapy, an FDA-cleared, Surgically Targeted Radiation Therapy (STaRT) for patients with operable brain tumors. In addition, the funding will support clinical study plans to further validate improvements in overall survival, progression-free survival, and quality of life for patients with brain metastases, glioblastomas, and meningiomas.
Led by Matthew Likens, president and CEO, GT Medical Technologies was founded with the purpose of improving the lives of patients with brain tumors. FDA-cleared GammaTile is a Surgically Targeted Radiation Therapy (STaRT) that treats patients with newly diagnosed malignant and recurrent brain tumors. GammaTile Therapy is implanted at the completion of brain tumor removal surgery to deliver immediate, targeted radiation helping to eradicate brain tumor cells before they can replicate post-surgery. GammaTiles are bioresorbable collagen tiles embedded with radiation sources.
Since its full market release in the United States in March 2020, GammaTile has been offered in more than 80 hospitals, with more centers being added each month.
FinSMEs
24/03/2023