GT Medical Technologies Completes Oversubscribed $100 Million Series E Equity Financing to Advance Commercial Treatment for Patients with Operable Brain Tumors

Financing round led by new investor Viking Global Investors with participation from key existing investors

TEMPE, Ariz., June 9, 2026 /PRNewswire/ -- GT Medical Technologies, Inc., a medical device company dedicated to improving the lives of patients with brain tumors, today announced the closing of an oversubscribed $100 millon Series E equity financing. The financing was led by new investor Viking Global Investors with participation from key existing investors, including MVM Partners, Gilde Healthcare, Evidity Health Capital, Medtech Venture Partners and FemHealth Ventures.

"This financing is validation of GammaTile's potential to be a standard of care treatment for operable brain tumors and will accelerate our ability to bring this important therapy to even more patients," said Per Langoe, Chief Executive Officer at GT Medical Technologies.

The funds will be used to accelerate investments across commercial and operational initiatives following the release of the final data from the Company's ROADS randomized controlled trial (RCT) last month. The ROADS RCT studied the use of GammaTile^®, the Company's FDA-cleared bioresorbable radiotherapy implant, in patients with newly diagnosed brain metastases. The ROADS RCT data was selected for oral presentation at the 2026 American Society of Clinical Oncology (ASCO) conference and demonstrated statistical superiority for GammaTile relative to standard of care; GammaTile reduced the risk of tumor recurrence and death at 12 months by 93% and 41%, respectively.¹

Proceeds from the financing will also support continued expansion of GT Medical Technologies' recently initiated BRIDGES RCT in patients with newly diagnosed glioblastomas (GBMs).

"We are excited to lead this financing and to work with GT to unlock the potential of GammaTile therapy," said Jason Rostovsky, a Principal at Viking Global Investors. "GT Medical Technologies' technology has demonstrated profound clinical impact, and we look forward to supporting the GT Medical Technologies team in improving the treatment algorithm for patients with resectable brain tumors."

"An oversubscribed financing of this magnitude and the strength of our syndicate provides significant optionality for the Company, allowing us to accelerate the next phase of our growth and make meaningful clinical and operational investments for the future," added James Leech, Chief Financial & Strategy Officer at GT Medical Technologies.

GammaTile is an innovative form of radiation therapy placed at the time of brain tumor removal surgery, delivering immediate, targeted radiation to the tumor resection site when cancer cells are at their lowest residual levels. Unlike conventional approaches that require delays between surgery and the initiation of radiation therapy to allow for wound healing, GammaTile eliminates this treatment gap by starting treatment immediately. By delivering immediate, concentrated radiation directly at the tumor site, GammaTile maximizes the treatment's effectiveness against remaining cancer cells and reduces the risk of regrowth.

ROADS RCT data presented at the 2026 ASCO conference demonstrated that the 12-month rate of tumor surgical bed recurrence was dramatically lower with GammaTile at 1.3% compared with standard of care at 15.4% (HR:0.07, p=0.012).¹ Surgical bed recurrence-free survival, defined as the time from surgery to either tumor recurrence or death from any cause, whichever occurred first, was significantly improved with GammaTile, with the median time to an event not reached compared with standard of care at 10.9 months (HR: 0.48, P=0.002).¹ Additionally, 24-month overall survival was 61.7% for GammaTile compared with 35.7% for standard of care (HR: 0.59, p=0.032).¹

Recent GT Medical Technologies Milestones

ROADS Phase 3 Clinical Trial Data Presented at ASCO26 Show GammaTile^® Provides Superior Tumor Control Leading to Patients Living Longer Without Recurrence Compared to Standard of Care in Newly Diagnosed Operable Brain Metastases

Radiation-emitting implant improves outcomes after brain cancer surgery | Reuters

GT Medical Technologies Announces First Patients Treated with GammaTile in the BRIDGES Trial for Newly Diagnosed Glioblastoma

https://www.prnewswire.com/BRIDGESgammatile

About GT Medical Technologies, Inc.

GT Medical Technologies was founded by a dedicated team of tumor specialists to address unmet needs in brain tumor treatment. The Company is committed to improving the lives of patients with brain tumors through innovative solutions that elevate the standard of care.

About Viking Global Investors 

Founded in 1999, Viking Global Investors is a global investment firm with a long-term, fundamental, research-intensive approach to investing. Viking manages $52 billion of capital across public and private investments. Viking has offices in Stamford, New York, Hong Kong, London, and San Francisco, and is registered as an investment adviser with the U.S. Securities and Exchange Commission. For more information, please visit www.vikingglobal.com. 

Safe Harbor Statement

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding our expectations, beliefs, or projections. These forward-looking statements are based on management's current expectations and involve significant risks and uncertainties that may cause actual results, performance, or achievements to differ materially from those expressed or implied by these forward-looking statements. Such factors and risks which could cause actual results to differ materially from those in the forward-looking statements include, without limitation: regulatory risks such as changing CMS, NRC, FDA rules and regulations impacting clearance and/or reimbursement of indicated products; supply chain disruptions; clinical trial and investigation risks including adverse patient outcomes such as death and other severe complications; cost of capital and inflationary risk of raw materials; legal and regulatory risks associated with potential mergers, acquisitions, investments in joint ventures; other global and regulatory uncertainties. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Reference:
1. Weinberg J. ROADS: A randomized controlled phase 3 trial of resection plus post-operative stereotactic radiation versus resection plus cesium-131tile-based radiation therapy for newly diagnosed brain metastases. Presented at: 2026 American Society of Clinical Oncology Conference; May 30, 2026; Chicago, IL.

Media Contact:
Dawn Fallon
New Dawn Communications
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(732) 771-7808

SOURCE GT Medical Technologies