Financing Will Help Expand Access to GammaTile® Therapy for Patients with Newly Diagnosed and Recurrent Brain Tumors
TEMPE, Ariz., March 23, 2023 /PRNewswire/ — GT Medical Technologies, Inc., a medical device company dedicated to improving the lives of patients with brain tumors, announced that it has raised $45 million in a Series C financing led by Gilde Healthcare Partners with participation from existing institutional investors MVM Partners, MedTech Venture Partners, and BlueStone Venture Partners.
Funds from this round will 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 its 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.
“We are excited that this funding will help us reach more patients with operable brain tumors,” said Matthew Likens, president, and CEO of GT Medical Technologies. “GammaTile is an important innovation for these patients who need better treatment options. Unlike traditional radiation therapy, which cannot be initiated until several weeks after brain tumor removal surgery, STaRT enables patients to begin receiving radiation treatment at the time of their tumor removal surgery. This gives patients a head start against tumor regrowth.”