GT Medical Technologies Secures $53 Million in Series D Financing to Enhance Brain Tumor Treatments

GT Medical Technologies, Inc., a pioneering medical device firm committed to improving outcomes for patients battling brain tumors, has recently announced the successful completion of its oversubscribed Series D equity financing round, raising a total of $53 million. This crucial funding round, characterized by a notable influx of new investors and increased commitments from existing supporters, aims to strengthen the company’s initiatives in the field of neuro-oncology.

The Series D Financing Breakdown

The final close of the Series D comprised an additional $16 million injected by new investors, including FemHealth Ventures and Warren Point Capital, alongside an undisclosed strategic partner, as well as augmented investments from current institutional backers. Earlier in the year, a $37 million first close was successfully reported, led by Evidity Health Capital, with participation from Accelmed Partners and notable existing investors such as MVM Partners, Gilde Healthcare, and Medtech Venture Partners.

Focus on Patients and Clinical Advancements

CEO Per Langoe emphasized the importance of this funding by stating, “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®.” This capital will primarily facilitate the expansion of the company's commercial activities in the United States regarding the innovative GammaTile Therapy, alongside aiding the completion of patient enrollment in the ROADS randomized controlled trial for newly diagnosed brain metastases and fostering an additional randomized controlled trial of GammaTile in newly diagnosed glioblastoma cases.

FemHealth Ventures’ Managing Partner, Maneesha Ghiya, expressed excitement about their partnership with GT Medical Technologies, asserting their commitment to enhancing health outcomes through groundbreaking treatments in oncology, which includes significant applications in women’s health.

A New Era of Radiation Therapy

GammaTile represents a revolutionary form of radiation therapy that is uniquely implanted at the time of brain tumor resection surgery. It delivers immediate, targeted radiation to the tumor site while cancer cells are at their nadir, thereby differentiating it from traditional therapies that necessitate a recovery period before radiation treatment, which could risk cancer regrowth. By enabling timely and localized radiation delivery, GammaTile aims to maximize the treatment effectiveness against remaining malignant cells while safeguarding healthy brain tissue from unnecessary radiation exposure.

Milestones and Future Aspirations

GT Medical Technologies has witnessed significant progress, with over 1,900 patients having received treatment with GammaTile Therapy to date and more than 800 patients enrolled in ongoing clinical studies. Looking forward, the company anticipates completing enrollment in both the ROADS and GESTALT studies by the third quarter of 2025, reinforcing its commitment to advancing the field of brain tumor treatment.

About GT Medical Technologies

Established by a dedicated team of brain tumor specialists, GT Medical Technologies is focused on addressing the significant unmet needs within brain tumor treatment. Committed to improving patient lives through innovative solutions, the company aims to elevate the standards of care in neuro-oncology.

To learn more about GammaTile and the ongoing efforts of GT Medical Technologies, visit gammatile.com and follow on social media @GammaTile for updates.