GT Medical Technologies has secured a $37 million initial close in Series D funding to accelerate the development and clinical validation of its innovative GammaTile Therapy, a bioresorbable radiotherapy implant designed to treat brain tumors. The funding round was led by Evidity Health Capital with participation from new investor Accelmed Partners and existing investors including Gilde Healthcare, MVM Partners, and Medtech Venture Partners.
The capital injection comes at a crucial time as the company aims to expedite two pivotal clinical studies: the ROADS trial investigating GammaTile's efficacy in brain metastases and the GESTALT trial focusing on glioblastoma treatment. These studies represent significant steps forward in establishing the therapeutic value of this novel approach to brain tumor management.
Strategic Expansion of Clinical Programs
GammaTile Therapy represents a paradigm shift in brain tumor treatment by delivering targeted radiation therapy directly to the surgical cavity following tumor resection. This innovative approach aims to prevent tumor recurrence by targeting cancer cells at their most vulnerable stage while minimizing radiation exposure to healthy brain tissue.
The company's clinical program has shown impressive momentum, with over 700 patients participating in various studies to date. The therapy has already received FDA clearance and has been utilized in more than 1,700 patient treatments, demonstrating growing clinical adoption and real-world implementation.
Commercial Growth and Leadership Enhancement
As part of the financing agreement, Adam Lessler from Evidity Health Capital and Camilo Rico, vice-president of Accelmed Partners, will join GT Medical's board of directors, bringing additional strategic expertise to guide the company's growth phase.
"The Series D financing round underscores the confidence investors have in GammaTile Therapy and our vision to innovate brain tumor care," said Sandeep Yadav, Chief Financial Officer of GT Medical Technologies. "We are thrilled to welcome Adam and Camilo to our Board of Directors as we enter this next phase of growth."
Manufacturing and Distribution Partnerships
The company's commitment to expanding access to innovative brain tumor treatments was further demonstrated by its strategic partnership with Theragenics Corporation in May. This collaboration aims to broaden physician access to Cesium-131 seeds, a crucial component used in brachytherapy applications of the GammaTile system.
GT Medical Technologies anticipates a second close of the funding round in the first quarter of this year, with plans to expand both clinical and commercial operations to meet growing demand for the implant. This expansion will be crucial as the company continues to generate clinical evidence through its ongoing trials while scaling up commercial availability of the therapy.
