GT Medical Technologies, a medical device company dedicated to improving the lives of patients with brain tumors, has announced the successful completion of its oversubscribed $53 million Series D equity financing round.
The final close of the Series D included an additional $16 million from new investors, including FemHealth Ventures, Warren Point Capital, and an undisclosed strategic investor. All existing institutional investors also increased their commitments.
Earlier this year, GT Medical Technologies announced the initial $37 million first close of its Series D funding round, led by Evidity Health Capital, with new investor Accelmed Partners joining existing investors MVM Partners, Gilde Healthcare, and Medtech Venture Partners.
These funds will be used to significantly expand U.S. commercial activities for GammaTile, the company’s innovative radiation therapy. The capital will also enable GT Medical Technologies to complete enrollment in its ROADS randomized controlled trial for newly diagnosed brain metastases and fund an additional randomized control trial evaluating GammaTile in freshly diagnosed glioblastoma cases.
GammaTile: GammaTile represents a groundbreaking approach to radiation therapy. It’s placed directly at the brain tumor removal site during surgery, delivering immediate, targeted radiation when cancer cell levels are at their lowest. This eliminates the treatment gap often seen with conventional methods, which typically require a delay between surgery and radiation therapy for wound healing. By providing immediate, localized radiation directly to the tumor bed, GammaTile is designed to maximize treatment effectiveness against remaining cancer cells and reduce the risk of regrowth.
GT Medical Technologies recently marked significant milestones, reflecting the increasing adoption of GammaTile. To date, more than 1,900 patients have been treated with GammaTile Therapy, and over 800 patients have been enrolled in GammaTile clinical studies.
KEY QUOTES:
“Increasing the size of the Series D allows us to stay focused on driving results for patients into the foreseeable future. We are thankful for our investors’ continued support as we expand our commercial footprint and clinical initiatives for GammaTile.”
Per Langoe, Chief Executive Officer at GT Medical Technologies
“FemHealth Ventures is excited to join GT Medical Technologies as an investor and support the commercial acceleration of GammaTile Therapy. We are proud to back a company that is transforming the standard of care in oncology and shares our commitment to improving health outcomes, including meaningful applications in women’s health.”
Maneesha Ghiya, Managing Partner at FemHealth Ventures
“The completion of an oversubscribed Series D equity financing from premier medical device investors is a testament to the important work of our team and mission.”
James Leech, Chief Financial & Strategy Officer of GT Medical Technologies
