• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Monteris Medical drums up $3.4 million for brain tumor laser treatment

Monteris Medical drums up $3.4 million for brain tumor laser treatment

June 22, 2010 By MedCity News

MedCity News logo

By Brandon Glenn

Monteris Medical Inc. raised $3.4 million in an equity round for a device that enables minimally invasive laser surgery for brain tumors, according to a regulatory filing.

Monteris hopes to stretch the funding round to about $4.5 million, CEO Jim Duncan said. The 25-employee company has garnered $21 million in investment funding since its 1999 inception.

Monteris’ AutoLITT System won 510(k) clearance for use in neurosurgery from the Food & Drug Administration last year. The procedure uses an MRI to guide a laser, allowing doctors to watch and adjust as they heat glioblastoma multiforme tumors, reduce them to paste and remove the residue.

The AutoLITT combines three technologies: Laser-induced thermal therapy, real-time MRI heat monitoring and minimally invasive MRI-guided surgical procedures.

Monteris plans to use the capital to fund its sales operations, Duncan said. The company just made its first two sales of the device to the Cleveland Clinic and University Hospitals of Cleveland. Doctors at both hospitals collaborated on the first human trials of the device. Monteris has three employees on its sales team, Duncan said.

The AutoLITT System offers an alternative to patients with brain tumors that are too risky to treat or don’t respond to other forms of treatment, according to Monteris.

The funding was sourced from four investors, three of which are based in Canada. Monteris’ two major investors are both Canadian — Western Life Science Venture Fund and the venture arm of Business Development Bank of Canada. Growthworks is Monteris’ third Canadian investor.

Monteris has offices in Kalamazoo, Mich., and Winnipeg, Canada. The company added the Michigan office in 2008, after it received an unspecified investment (PDF) from the Southwest Michigan First Life Sciences Fund, which was the fourth investor in the company’s most recent funding round. Monteris’ technology is based on research performed at the University of Manitoba in Winnipeg.

Duncan said the company has identified other potential applications of its technology besides brain tumors, but declined to specify them.

Filed Under: Business/Financial News, Dental, Neurological, News Well Tagged With: Monteris Medical

More recent news

  • Penumbra completes enrollment in pulmonary embolism trial
  • Zoll opens new facility in Rhode Island
  • FDA expands clearance for Inquis Medical’s Aventus thrombectomy system
  • SS Innovations completes first robotic cardiac surgery in the Americas
  • GI Windows wins FDA nod for magnet tech

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy