GammaTile Therapy Gives Brain Tumor Patients Another Option

GT Medical Technologies has raised $10 million in a series A round led by Medtech Venture Partners with participation from BlueStone Venture Partners. The Tempe, AZ-based company has developed the Gamma Tile, a surgically targeted radiation therapy for patients with brain tumors. The device was cleared by FDA in July of 28 and has had a limited market release. Proceeds from the financing will support the continued commercialization of the Gamma Tile. “GammaTile Therapy was developed by a team of brain tumor specialists who were running out of options for their patients,” Matthew Likens, president and CEO of GT MedTech said in a release. “Their urgency to find a viable solution for these patients led to the creation of GammaTile Therapy, which is designed to be immediate, safe, predictable, and effective. With this funding, in addition to adding seasoned industry executives to our team, we look forward to building and expanding our commercialization efforts so that we can offer this new option to patients at brain tumor treatment centers across the U.S.” The company said that about 400,000 patients in the U.S. are newly diagnosed with some type of brain tumor each year. Despite the efforts of the most skilled brain tumor specialists throughout the world, outcomes for patients with brain tumors have improved very little over the past 30 years. Recurrence of brain tumors is common, and about half of all pati...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news