GT Medical Technologies, a medical device company with a corporate purpose of improving the lives of patients with brain tumors, announced the company has completed a $37 million first close of a Series D financing round.
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The financing was led by Evidity Health Capital, alongside new investor Accelmed Partners. Also participating were existing investors MVM Partners, Gilde Healthcare and Medtech Venture Partners.
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The funds will accelerate the completion of the ROADS clinical study that is focused on GammaTile for newly diagnosed brain metastases, and the GESTALT clinical trial for patients with newly diagnosed glioblastomas (GBMs). In addition, the funds will support the continued commercialization of GammaTile®, the Company’s FDA cleared bioresorbable radiotherapy implant for the treatment of brain tumors.
In conjunction with the financing, Adam Lessler, MD, Partner at Evidity Health Capital, and Camilo Rico, Vice President at Accelmed Partners, will join GT MedTech’s Board of Directors.
“Since 2019, doctors across the country have chosen GammaTile as a proven treatment for patients with operable brain tumors,” said Per Langoe, Chief Executive Officer at GT Medical Technologies. “With the support of Evidity and Accelmed, we are well-positioned to expand the availability of GammaTile and advance our ongoing clinical studies to continue transforming brain tumor treatment.”
By delivering tile-based radiation therapy directly into the surgical cavity at the time of tumor removal, GammaTile provides immediate, localized treatment. This approach targets remaining cancer cells when they are at their lowest levels to help prevent regrowth while minimizing radiation exposure to healthy brain tissue.
About GT Medical Technologies, Inc.
GT Medical Technologies was founded by a dedicated team of brain tumor specialists to address unmet needs in brain tumor treatment. The company is committed to improving the lives of patients with brain tumors through innovative solutions that elevate the standard of care.
