Dive Brief:
- GT Medical Technologies said Tuesday it closed a $100 million equity financing round, weeks after its GammaTile radiotherapy implant proved superior to standard of care treatment in a clinical trial.
- The bioresorbable device is placed in the brain during tumor removal surgery to deliver targeted radiation in the remaining cavity, where the therapy can eliminate residual cancer cells when they are at their lowest levels.
- GT Medical said it will use the new funds to accelerate investment in commercial and operational initiatives. GammaTile’s acceptance in both academic and community healthcare settings is growing, the company said, with more than 150 leading U.S. cancer centers now offering the treatment.
Dive Insight:
The GammaTile device received Food and Drug Administration clearance in 2018 for recurrent brain tumors and in 2020 for newly diagnosed malignant tumors.
Radiation treatment after surgery is typically started several weeks after the wound heals. GammaTile is designed to prevent tumor regrowth by closing the treatment gap.
At the American Society of Clinical Oncology conference last month, GT Medical reported final results of a study that showed GammaTile lowered the risk of tumor recurrence by 93% and the risk of death by 41% in patients with newly diagnosed operable brain metastases one year after treatment. The randomized, controlled trial compared treatment with GammaTile to the current standard of care, which is surgery plus stereotactic radiation therapy. The two approaches were equally safe.
CEO Per Langoe said the company’s new funding round validates GammaTile’s potential to be a standard of care treatment for operable brain tumors. The funds will accelerate the ability to bring the therapy to more patients, he said. GT Medical is also studying the treatment in people with newly diagnosed glioblastomas.
New investor Viking Global led the financing round, and existing investors including MVM Partners, Gilde Healthcare, Evidity Health Capital, Medtech Venture Partners and FemHealth Ventures participated in it.
GT Medical raised $53 million in 2025, $45 million in 2023 and $16 million in 2020 to support GammaTile.
