Evidity Health Capital Leads $37M Funding Round for GT Medical Technologies

GT Medical Technologies Inc. (GT MedTech) has collected $37 million in a first close Series D financing round led by Evidity Health Capital.

The money will accelerate completion of the ROADS clinical study, which is focused on GammaTile for newly diagnosed brain metastases, and the GESTALT clinical trial for patients with newly diagnosed glioblastomas (GBMs). In addition, the financing will support the continued commercialization of GammaTile, GT MedTech’s U.S. Food and Drug Administration-cleared bioresorbable radiotherapy implant for brain tumor treatment.

“Since 2019, doctors across the country have chosen GammaTile as a proven treatment for patients with operable brain tumors,” GT MedTech CEO Per Langoe said. “With the support of Evidity and Accelmed, we are well-positioned to expand the availability of GammaTile and advance our ongoing clinical studies to continue transforming brain tumor treatment.”

Other investors in this funding round (besides Evidity Health Capital) were newcomer Accelmed Partners and existing supporters MVM Partners, Gilde Healthcare, and Medtech Venture Partners. In conjunction with the financing, Evidity Health Capital Partner Adam Lessler, M.D., and Accelmed Partners Vice President Camilo Rico have joined GT MedTech’s Board of Directors. 

“The Series D financing round underscores the confidence investors have in GammaTile Therapy and our vision to innovate brain tumor care,” GT MedTech Chief Financial Officer Sandeep Yadav stated. “We are thrilled to welcome Adam and Camilo to our Board of Directors as we enter this next phase of growth.”

By delivering tile-based radiation therapy directly into the surgical cavity at the time of tumor removal, GammaTile provides immediate, localized treatment. This approach targets remaining cancer cells when they are at their lowest levels to help prevent regrowth while minimizing radiation exposure to healthy brain tissue.

“GammaTile’s unique combination of surgical precision and immediate, targeted radiation represents a transformative leap in oncology care. We are proud to partner with GT MedTech to bring this life-changing technology to more patients,” Dr. Lessler said.

“Accelmed is excited to support GT MedTech as it accelerates the adoption of GammaTile Therapy,” Rico added. “GT MedTech complements our strategy of partnering with innovative companies and management teams with a strong commitment to advance life changing therapies.”

GT MedTech recently celebrated important milestones, reflecting the growing adoption of GammaTile. To date, more than 1,700 patients have been treated with GammaTile Therapy, and over 700 patients have been enrolled in GammaTile clinical studies.

GT MedTech was founded by a dedicated team of brain tumor specialists to address unmet needs in brain tumor treatment. Since its initial market release in the United States in January 2019, GammaTile has been adopted by more than 100 leading centers.

Evidity Health Capital invests in high-growth medical technology companies with innovative products that transform patient outcomes.

Accelmed Partners is a lower middle-market private equity fund focused on acquiring and investing in U.S. commercial-stage HealthTech companies. Accelmed seeks to accelerate value and scale innovation across the HealthTech field by bringing to bear the team’s industry experience, operational and financial expertise, and strong global relationships.