GT Medical Technologies has secured $10 million in financing to support the commercialization of its GammaTile therapy, a surgically targeted radiation therapy for patients with brain cancer.
GammaTile is placed at the site of the tumor after it has been surgically removed. It targets residual cancer cells before they can replicate and features a bioresorbable, conformable, 3D-collagen tile and uniform radiation source, according to GT Medical. The technology received clearance from the U.S. Food and Drug Administration (FDA) in July 2018.
The financing was led by MedTech Venture Partners, with participation from BlueStone Venture Partners, the company said.