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Monteris Medical raises $35M for its robotic brain surgery system

Monteris Medical recently raised $35 million as it continues to advance its minimally invasive robotic brain surgery system.

The NeuroBlate surgical robotics system for the brain. [Image courtesy of Monteris Medical]The Minnetonka, Minnesota–based company reported a $13.5 million raise in an SEC Form D filed on Sept. 15. But in an article published yesterday in the Star Tribune of Minneapolis, CFO Jim Erickson said the equity financing range was actually $35 million.

“The first half of this year was more challenging than the year before. It took longer than we would have hoped,” Erickson told the Star Tribune. He later added that the life sciences space is proving to be a durable investment space, even amid the present economic hurdles.

Monteris Medical is among a host of companies big and small that are seeking to innovate in a surgical robotics space that has long been dominated by Intuitive. [Intuitive CEO Gary Guthart will deliver a keynote …

16 surgical robotics companies you need to know

Intuitive remains the dominant surgical robotics company, but corporations ranging from Medtronic to Vicarious Surgical look to compete. The Da Vinci Xi robotic surgery system. Intuitive continues to dominate the space. [Image courtesy of Intuitive]Robotic-assisted surgery remains one of the hottest spaces in medtech. Intuitive, which pioneered the field in the 1990s and early 2000s, continues to innovate. At the same time, a host of other companies are looking to compete.

Companies making headlines in the robotic surgery space over the past year include:

Company Robotic system(s) Intuitive Surgical Da Vinci Xi, Da Vinci X, Da Vinci SP, Ion Medtronic Hugo Johnson & Johnson Monarch, Velys, Ottava Stryker Mako Siemens Healthineers’ Corindus CorPath GRX Vicarious Surgical Beta 2 Titan Medical Enos Asensus Surgical Senhance Moon Surgical Maestro Momentus Surgical Anovo Virtual Incision MIRA Stereotaxis Genesis RMN, Vdrive, Niobe Monteris …

Monteris Medical announces positive paper on its robotic brain surgery system

Monteris Medical announced today that data supports the use of its laser interstitial thermal therapy (LITT) in treating brain tumors.

A paper on LITT for patients with IDH wild-type glioblastoma — the most common and aggressive tumor originating in the brain — was published in the journal Neuro-Oncology Advances.

Minnetonka, Minnesota-based Monteris said in a news release that data on 89 patients collected through the Laantern prospective, multi-center registry, demonstrated that LITT offers an effective alternative to traditional surgery for patients with newly diagnosed and recurrent glioblastoma while also delivering the benefits of a minimally invasive surgical procedure, including short recovery time and the reduced potential for side effects.

The paper showed that, in newly diagnosed patients treated with LITT followed by standard of care chemotherapy and radiation, overall survival (16.14 months) and progression-free survival (11.93 months) are c…

Monteris Medical scores reimbursement win with Cigna

Monteris Medical announced today that Cigna released a national coverage policy supporting the use of its laser ablation therapy.

The medical coverage policy considers Minnetonka, Minnesota-based Monteris’ robot-assisted, MR-guided laser interstitial thermal therapy (LITT or laser ablation) medically necessary in the treatment of drug-resistant epilepsy and symptomatic brain tumors and radiation necrosis when medical necessity is met and the patient is not suitable for open brain surgery, according to a news release.

Cigna, one of the biggest payors in the U.S., awarded the coverage policy following recently issued position statements on the use of LITT for epilepsy and brian tumors, respectively, by the major neurological societies, according to Monteris. Additionally, LITT was included in guidelines issued by the National Comprehensive Cancer Network and Category Level 1 CPT codes approved by the American Medical Association with an effective date of Ja…

Monteris Medical raises $9M

Monteris Medical (Plymouth, Minn.) has raised another $9 million, about four months after it crossed the 3,000 mark of people treated with its NeuroBlate robot-assisted brain surgery device.

The money came from a single investor, according to the Form D that Monteris filed today with the U.S. Securities and Exchange Commission. The company has been seeking a total $30 million in the present offering.

Funds are going toward further commercial expansion, CFO Jim Erickson told MassDevice via email.

Nearly all of the people treated so far with NeuroBlate had epilepsy, gliomas, brain metastases and radiation necrosis.

“Patients appreciate the minimally-invasive nature of NeuroBlate,” Dr. Stephan Schuele, chief of epilepsy and clinical neurophysiology at Northwestern Feinberg School of Medicine in Chicago, said in a May news release from Monteris announcing the 3,000th patient.

“They usually return home with a minimal hospital stay. It’s becom…