Monteris Medical, a private medical technology company dedicated to becoming the technology leader in minimally invasive brain surgery, announced it has secured $73 million in financing including $35 million in new Series D equity and a $38 million debt facility. The equity financing was led by new investor, InnovaHealth Partners, and was supported by existing lead investor, Birchview Capital. The debt facility, provided by Madryn Asset Management, LP, extended $28 million at closing, with the option to draw an additional $10 million upon the achievement of certain milestones. The proceeds will be used to support important market adoption, clinical research and technology programs and will permit the company to refinance its current obligation.
Company Information
Company
Monteris Medical
Location
131 Cheshire Lane
Minnetonka, Minnesota, United States
About
Monteris Medical is a privately held company that develops and markets innovative MR-guided ablation systems to perform minimally invasive, robotically controlled brain surgery, commonly referred to as laser ablation, LITT (Laser Interstitial Thermal Therapy) or SLA (Stereotactic Laser Ablation). The Monteris NeuroBlate System is the only minimally invasive system that enables a robotic interface for the precise and safe delivery of laser energy. The Monteris Medical NeuroBlate System is a neurosurgical tool and is intended for ablating intracranial soft tissue, including brain structures such as brain tumors, radiation necrosis, and epileptic foci (as identified by non-invasive and invasive neurodiagnostic testing, including imaging). For more information, visit monteris.com.
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MinnetonkaManufacturingBiotechnologyHealthcareHealth CareMedicalMedical Device