GT Medical Secures $53M Funding to Advance Brain Tumor Treatment Device

GT Medical Technologies has successfully closed a $53 million funding round to support the commercialization and further development of its innovative brain tumor treatment device, GammaTile. The company, which initially raised $37 million in January, has now secured an additional $16 million from new and existing investors to bolster its efforts in expanding U.S. commercial activities and advancing clinical trials.

GammaTile: A Novel Approach to Brain Tumor Treatment

GammaTile is a groundbreaking device that delivers targeted radiation therapy to eliminate residual cancer cells following the surgical removal of brain tumors. The technology consists of radioactive sources embedded in a collagen matrix, which is placed in the cavity created by tumor removal. This approach aims to improve outcomes for patients with both recurrent and newly diagnosed brain cancers.

The U.S. Food and Drug Administration (FDA) initially cleared GammaTile for use in recurrent cancers in 2018. In 2020, the FDA expanded the device's label to include newly diagnosed malignant tumors, broadening its potential impact on patient care.

Funding Allocation and Clinical Trial Progress

The newly secured funds will be instrumental in advancing GT Medical's clinical research initiatives. The company plans to complete enrollment in a randomized controlled trial focusing on patients with newly diagnosed brain metastases. Additionally, GT Medical is preparing to launch another randomized trial specifically targeting newly diagnosed glioblastoma cases.

Per Langoe, CEO of GT Medical, emphasized the significance of this funding, stating that it will allow the company to "stay focused on driving results for patients into the foreseeable future." Langoe, who joined GT Medical in 2024 after leading Palette Life Sciences to a $600 million acquisition by Teleflex, has been instrumental in shaping the company's strategic direction.

Expanding Commercial Reach and Clinical Excellence

In line with its growth strategy, GT Medical has introduced the GammaTile Center of Excellence Program, designed to recognize healthcare providers and institutions demonstrating exceptional expertise in the GammaTile procedure. The USC Brain Tumor Center was the first facility to receive this prestigious designation, with additional institutions joining the ranks since the program's inception.

This initiative aligns with Langoe's vision of partnering with healthcare providers to optimize GammaTile's integration into existing clinical workflows, potentially improving patient outcomes and expanding access to this innovative treatment option.