GT Medical Technologies – a medical device company that aims to improve patients’ lives with brain tumors – announced that the company has completed the $37 million first close of a Series D funding round.
The funding was led by Evidity Health Capital, along with new investor Accelmed Partners. Existing investors MVM Partners, Gilde Healthcare, and Medtech Venture Partners were also participating. The funding 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 treating brain tumors.
In connection 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.
By providing tile-based radiation therapy directly into the surgical cavity at the time of tumor removal, GammaTile provides immediate, localized treatment. And this approach targets remaining cancer cells at their lowest levels to help prevent regrowth while minimizing radiation exposure to healthy brain tissue.
GT MedTech recently celebrated essential milestones, such as the growing adoption of GammaTile. So far, more than 1,700 patients have been treated with GammaTile Therapy, and over 700 patients have been enrolled in GammaTile clinical studies.
GT MedTech anticipates completing a second close of the Series D round in Q1 of 2025, with plans to expand clinical and commercial operations to meet the growing demand for GammaTile Therapy.
KEY QUOTES:
“Since 2019, doctors across the country have chosen GammaTile as a proven treatment for patients with operable brain tumors. 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.”
– Per Langoe, Chief Executive Officer at GT MedTech
“The Series D financing round underscores the confidence investors have in GammaTile Therapy and our vision to innovate brain tumor care. We are thrilled to welcome Adam and Camilo to our Board of Directors as we enter this next phase of growth.”
– Sandeep Yadav, Chief Financial Officer of GT MedTech
“GammaTile’s unique combination of surgical precision and immediate, targeted radiation represents a transformative leap in oncology care. We are proud to partner with GT MedTech to bring this life-changing technology to more patients.”
– Dr. Lessler
“Accelmed is excited to support GT MedTech as it accelerates the adoption of GammaTile Therapy. GT MedTech complements our strategy of partnering with innovative companies and management teams with a strong commitment to advance life changing therapies.”
– Camilo Rico, Vice President at Accelmed Partners
