Laser neurosurgery tool developer secures $30M in equity financing

Monteris Medical (Plymouth, MN), which develops minimally invasive laser neurosurgery systems for the ablation of pathologic brain lesions such as primary and metastatic tumors, has secured equity financing totaling approximately $30 million.

Related: Laser neurosurgery tool receives Health Canada license as Class 4 medical device

Led by new investor Birchview Capital (Burlington, VT), the financing will support an expansion of both commercial and clinical programs for the Monteris NeuroBlate robotic neurosurgical system. Also participating in the Series B preferred financing were The Vertical Group (Basking Ridge, NJ; a new investor) and the BDC Capital Healthcare Fund (Montreal, QC, Canada; a current investor).  

John Schellhorn, Monteris' president and CEO, says that the investment will allow the company to expand its current customer base of approximately 25 neurosurgery centers.
The Series B financing includes two tranches of preferred equity, the first of which closed on November 6, 2014, and the second of which will close on/or before March 31, 2015. The two tranches will total slightly under $30 million. In addition to the Series B preferred stock, the company has issued warrants to the Series B investor group that, if exercised, would generate additional capital for the company in the amount of approximately $10.6 million. In conjunction with this financing, Matthew Strobeck, Ph.D., partner at Birchview Capital, and Richard Emmitt, general partner of The Vertical Group, will join the Monteris Board of Directors.


Follow us on Twitter, 'like' us on Facebook, connect with us on Google+, and join our group on LinkedIn

Subscribe now to BioOptics World magazine; it's free!

Get All the BioOptics World News Delivered to Your Inbox

Subscribe to BioOptics World Magazine or email newsletter today at no cost and receive the latest news and information.

 Subscribe Now
Related Articles

New bioimaging technique offers clear view of nervous system

Scientists at Ludwig-Maximilians University have developed a technique for turning the body of a deceased rodent entirely transparent, revealing the central nervous system in unprecedented clarity....

Eye test that pairs two in vivo imaging methods may detect Parkinson's earlier

A low-cost, noninvasive eye test pairs two in vivo imaging methods to help detect Parkinson's before clinical symptoms appear.

New lenses improve two-photon microscopy to image larger area of neuronal activity

By building on two-photon microscopy with new lenses, neuroscientists can better understand the behavior of neurons in the brain.

Optogenetics helps identify neurons that play important role in fear learning

Optogenetics helped to discover the process responsible for persistent reactions to trauma-associated cues.


Neuro15 exhibitors meet exacting demands: Part 2

Increasingly, neuroscientists are working with researchers in disciplines such as chemistry and p...

Why be free?

A successful career contributed to keeping OpticalRayTracer—an optical design software program—fr...

LASER Munich 2015 is bio-bent

LASER World of Photonics 2015 included the European Conferences on Biomedical Optics among its si...

White Papers

Understanding Optical Filters

Optical filters can be used to attenuate or enhance an image, transmit or reflect specific wavele...

How can I find the right digital camera for my microscopy application?

Nowadays, image processing is found in a wide range of optical microscopy applications. Examples ...



Twitter- BioOptics World

Copyright © 2007-2016. PennWell Corporation, Tulsa, OK. All Rights Reserved.PRIVACY POLICY | TERMS AND CONDITIONS