GT Medical Technologies Inc., a medical device company dedicated to improving the lives of patients suffering from brain tumors, announced a $45 million Series C financing led by Gilde Healthcare Partners, with participation from existing institutional investors MVM Partners, MedTech Venture Partners, and BlueStone Venture Partners.
This round of funding will go toward expanding the commercialization of GammaTile Therapy, an FDA-approved Surgically Targeted Radiation Therapy for patients with operable brain tumors. Furthermore, the funding will help to validate improvements in overall survival, progression-free survival, and quality of life for patients with brain metastases, glioblastomas, and meningiomas.
GammaTile Therapy is a revolutionary brain tumor treatment that is implanted after brain tumor removal surgery. GammaTile Therapy delivers immediate, targeted radiation, assisting in the eradication of brain tumor cells prior to their ability to replicate post-surgery.
GammaTiles are bioresorbable collagen tiles that have radiation sources embedded in them. This most recent breakthrough in brain tumor treatment has demonstrated favorable clinical outcomes in patients with glioblastomas, metastatic brain tumors, and aggressive meningiomas.
A team of brain tumor specialists formed GT Medical Technologies with the goal of improving the lives of patients with brain tumors, driven to raise the standard of care and improve the lives of patients with brain tumors. GammaTile, an FDA-approved Surgically Targeted Radiation Therapy, is used to treat patients with newly diagnosed malignant and recurrent brain tumors.
This “one-and-done” treatment eliminates the need for one to six weeks of daily external beam radiation therapy, allowing patients to go about their daily lives without the burden of additional hospital or clinic visits. GammaTile has been available in more than 80 hospitals in the United States since its full market release in March 2020, with more centers being added each month.
Gilde Healthcare is a specialized healthcare investor with over $2 billion under management across two fund strategies: venture and growth capital and private equity. Gilde Healthcare’s Venture & Growth fund invests in fast-growing companies in therapeutics, digital health, and medtech. The venture and growth firms are located in Europe and North America. Gilde Healthcare’s Private Equity fund invests in profitable lower mid-market healthcare companies based in North-Western Europe.