GT Medical Technologies has raised $100m to advance its radiation therapy implant for treating brain tumours.
The Arizona-based company’s oversubscribed Series E financing round was led by new investor Viking Global Investors. Existing investors including MVM Partners, Gilde Healthcare, Evidity Health Capital, and Medtech Venture Partners also participated.
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GT Medical plans to use the proceeds to advance commercial initiatives for GammaTile, an implantable radiation therapy implant for treating brain tumours. Implanted at the time of brain tumour removal surgery, GammaTile is designed to deliver targeted radiation to the tumour resection site when cancer cells are at their lowest residual levels.
By delivering immediate, concentrated radiation directly at the tumour site, GammaTile maximises the treatment’s effectiveness against remaining cancer cells and reduces the risk of regrowth, GT Medical stated.
The implantable gained US Food and Drug Administration (FDA)-clearance for recurrent tumours in 2018, with final data from the company’s Phase III ROADS randomised controlled trial (NCT04365374) recently shared at the 2026 American Society of Clinical Oncology (ASCO) meeting, which took place from 29 May to 2 June in Chicago, Illinois.
The ROADS trial evaluated GammaTile against the current standard of care (SoC) of stereotactic radiotherapy (SRT) in the 3-4 weeks following metastatic tumour resection.
At 12-months, data from the 230-patient ROADS study demonstrated that the rate of tumour surgical bed recurrence was 1.3% with GammaTile compared to 15.4% with SRT. Surgical bed recurrence-free survival, defined as the time from surgery to either tumour recurrence or death from any cause, was also improved with GammaTile, with the median time to an event not reached compared with the SoC at 10.9 months. Meanwhile, at 24-months, the overall survival (OS) was 61.7% for GammaTile versus 35.7% for the SoC.
Proceeds from the financing round will also support the continued expansion of GT Medical’s recently initiated BRIDGES trial (NCT07195591) evaluating GammaTile in patients with newly diagnosed glioblastomas (GBMs).
GT Medical Technologies’ CEO, Per Langoe, commented: “This financing is validation of GammaTile’s potential to be a standard of care treatment for operable brain tumours and will accelerate our ability to bring this important therapy to even more patients.”
