GT Medical Technologies, Inc. (GT), an Arizona-based medical device company, announced today the successful closure of its Series C funding round at $45 million. The financing was led by a group of prominent investors who believe in the company's mission and vision to improve the lives of patients with brain tumors.

Founded by Matthew Likens, GT has developed an innovative approach to treatment by combining a conformable collagen matrix with brachytherapy (radiation) seeds. The company's first product, GammaTile™ is protected by 10 US and 2 Canadian-issued patents, and 1 EPO patent. The product has the promise to revolutionize treatment for 176,000 patients per year in the US alone. To date, we have treated 120 patients with recurrent brain tumors in a clinical trial at Barrow Neurological Institute (BNI) and observed significant clinical improvement.

“This new capital will be used to further advance our research and development efforts as well as fund additional clinical trials necessary for FDA approval of GammaTile™. Our team is committed to making this revolutionary therapy available globally and providing better outcomes for all brain tumor patients”, said  Matthew Likens, Founder of GT Medical Technologies, Inc.