Monteris Medical won a regulatory nod in the U.S. and in Canada for its NeuroBlate MRI-guided tumor ablation device, the company said.
Monteris Medical closed a $7.8 million funding round it plans to use to commercialize its NeuroBlate neurosurgical ablation device for treating brain tumors.
The round, led by Business Development Bank of Canada, also included the SWMF Life Science Fund and several independent parties. Monteris drummed up $9 million last May, according to a press release.
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.