Medical device company Monteris Medical has closed on a $13.3 million financing, which consists of an $8.3 million preferred share component and $5 million of term debt financing. BDC Venture Capital led the preferred share component, with the remainder funded by the SWMF Life Science Fund and other independent parties, while Oxford Finance provided the term debt financing. The company has now raised more than $30 million since the beginning of 2012.
Monteris develops MRI-guided, laser-based therapy for brain lesions. The financing will support the commercialization of the NeuroBlate System in the North American neurosurgery market. NeuroBlate is a neurosurgical ablation device providing controlled therapy for difficult-to-treat brain tumors.