Monteris Medical Announces $13 Million Financing

October 27, 2013

PLYMOUTH, Minn. & WINNIPEG, Manitoba--(BUSINESS WIRE)--Monteris Medical Inc. (Monteris) announced it has closed financing totaling $13.3 million ($8.3 million preferred share component and $5 million of term debt) to support the commercialization of the NeuroBlate System® in the North American neurosurgery market. With this latest financing round total capital raised in 2012 and 2013 exceeds $30 million. BDC Venture Capital led the preferred share round, with the remainder funded by the SWMF Life Science Fund and other independent parties. Oxford Finance LLC (“Oxford”) provided the term debt.

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"Monteris Medical is a great example of how BDC Venture Capital is providing the most promising health tech companies with access to the capital required to develop and commercialize new, cutting-edge healthcare technologies," stated Gary Bantle, Partner with the BDC Venture Capital Healthcare Fund. “We are pleased to support Monteris Medical’s medical device technology, which offers neurosurgeons a new treatment solution for patients suffering from brain tumors or epilepsy.”