Monteris Medical reels in $30 mln in Series B financing

Monteris Medical Corp has received about US$30 million in Series B funding. Birchview Capital led the round with participation from The Vertical Group and previous Canadian backer BDC Capital Healthcare Fund, one of three sector-focused funds managed by BDC Capital. Based in Plymouth, Minnesota, and Winnipeg, Manitoba, Monteris is a developer of minimally invasive laser systems to address brain lesions. Update: Monteris said the capital infusion would support expansion of commercial and clinical programs for its robotic neurosurgical system. Founded in 1999, the company's technology was developed from research begun at Winnipeg's St. Boniface General Hospital.

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