Monteris Medical (Plymouth, Minn.) has brought in nearly $11 million from its latest investment round as it expands sales and marketing of its NeuroBlate robot-assisted brain surgery device, according to a new Form D filed with the U.S. Securities and Exchange Commission.
Monteris had sought roughly $17 million in total from the money-raise.
The company has overcome challenges after starting 2018 with FDA labeling a recall as Class I. Since resolving problems with the system, Monteris has had a string of good news to report. More than 2,000 patients have been treated with NeuroBlate since its release in 2013, and the company near the end of 2018 also won reimbursement from Aetna and Anthem.