Horizon Technology Finance, an affiliate of Monroe Capital, provided a $35 million venture loan facility to GT Medical Technologies, Inc., of which $15 million has been initially funded.

GT MedTech, through its innovative flagship product, GammaTile®, offers a proprietary solution to treat brain tumors. GammaTile is a bioresorbable collagen tile embedded with radiation seeds (Cesium-131), an isotope used to deliver a high dose of radiation directly to the tumor cavity, helping to reduce tumor recurrence. Unlike external beam radiation therapy, GammaTile uses surgically targeted radiation therapy, minimizing excess radiation exposure to healthy tissue.

GT MedTech is backed by top-tier investors including MVM Partners, Glide Healthcare Partners, MedTech Venture Partners and BlueStone Venture Partners. The company will use the loan proceeds for general growth and working capital.

“GT MedTech is pioneering brain tumor treatment with its FDA-cleared GammaTile,” said Gerald A. Michaud, President of Horizon. “This solution will help transform the standard of care, while offering a cost-effective reimbursement profile to hospitals, creating a clear win for all stakeholders in the healthcare ecosystem.”

“We are delighted to have Horizon’s support as we expand the reach of our groundbreaking GammaTile solution,” said Per Langoe, Chief Executive Officer of GT MedTech. “By delivering targeted radiation immediately after tumor removal, GammaTile provides focused radiation to the tumor cavity, helping eradicate residual tumor cells. Our partnership with Horizon Technology Finance will allow us to continue our strategic commercial and market expansion initiatives, helping bring GammaTile to more patients in need.”