Oxford Finance closed a $10 million term loan to Monteris Medical. Proceeds of the loan are being used to accelerate the ongoing sales of its NeuroBlate System, a laserablation device used to treat brain lesions.

Monteris Medical, founded in 1999, creates neurosurgical technology that offers a minimally invasive alternative to open brain surgery. The company is focused on developing innovative MRI-guided neurosurgical ablation tools and solutions for neurosurgeons.

“Over the past few years, Monteris has been very effective marketing its NeuroBlate System,” said Christopher A. Herr, senior managing director at Oxford Finance. “Oxford is pleased to provide additional capital to Monteris, and we wish the company continued success with its plans to expand sales.”

Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide.