Patients with metastatic brain tumors are among the most desperate of patients for at least a modestly effective treatment let alone a cure, and GT Medical Technologies Inc., of Tempe, Ariz., reported the interim findings from a study of 48 patients suffering from a total of 51 brain metastases. Four-month data from this study demonstrate that implant of the Gammatile device is safe as demonstrated by the lack of adverse events, and these results combined with other data suggest that this device can offer this patient population real hope of surviving one of the deadliest series of afflictions known to humankind.

GT Medical Technologies Inc. revealed that it has raised $16 million in a series B financing round led by MVM Partners, which was joined by existing investors Medtech Venture Partners and Bluestone Venture Partners. Funds will support the expanded commercialization of Gammatile Therapy, a surgically targeted radiation therapy (STaRT) that is intended to help patients with brain tumors.

Tempe, Ariz.-based Gt Medical Technologies Inc. has won the U.S. FDA’s nod for an expanded indication for Gammatile therapy. With this decision, patients with newly diagnosed malignant brain tumors now are eligible to receive the FDA-cleared surgically targeted radiation therapy. Gammatile therapy offers an option vs. waiting several weeks for surgical wound healing before beginning treatment. Previously, the therapy was available for individuals with recurrent brain tumors.