GT Medical Technologies raises $10M for launch of FDA-cleared radiation therapy

GT Medical Technologies (GT MedTech) has raised $10 million in Series A funding to help support the launch of GammaTile Therapy, the company’s FDA-cleared radiation treatment developed for patients with recurrent brain tumors.

GammaTile Therapy is placed at the site of a tumor following excision and targets residual tumor cells before they can replicate and spread. It can be used to treat patients with both primary and metastatic brain tumors.

“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 United States,” Matthew Likens, president and CEO of GT MedTech, said in a prepared statement.

The round of funding was led by MedTech Venture Partners, with participation from BlueStone Venture Partners.