​​​Portfolio News

April 11, 2019

GT Medical Technologies Co-Founder to Receive Prestigious Rosenblum-Mahaley Clinical Research Award at 2019 American Association of Neurological Surgeons Annual Scientific Meeting


Tempe, Arizona & San Diego, California – BlueStone portfolio company GT Medical Technologies, Inc., a company dedicated to improving the lives of patients with brain tumors, today announced that Peter Nakaji, M.D., GT MedTech’s co-founder and director of the Neurosurgery Residency Program at Barrow Neurological Institute in Phoenix, has been selected by the American Association of Neurological Surgeons (AANS)/Congress of Neurological Surgeons (CNS) Section on Tumors to receive the Rosenblum-Mahaley Clinical Research Award. The award recognizes established investigators in neuro-oncology who present the best clinical study in the field and acknowledges innovative approaches that lead to improved patient outcomes and quality of life.  Previous winners of this prestigious award...  READ MORE

New Portfolio Company

January 31, 2019

GT Medical Technologies Announces $10 Million Financing to Support Launch of Targeted Therapy for Patients with Recurrent Brain Tumors


Tempe, Arizona –  GT Medical Technologies, Inc., a company dedicated to improving the lives of patients with brain tumors, today announced that it has raised $10 million in a Series A financing led by MedTech Venture Partners with participation from BlueStone Venture Partners. Funds from the round will support the commercialization of GammaTile™ Therapy, an FDA-cleared, surgically targeted radiation therapy (STaRT™) for patients with recurrent intracranial neoplasms (brain tumors). The company recently launched a limited market release of GammaTile Therapy and is making it available at select medical centers in the United States. “GT MedTech’s mission is in line with our investment goal of supporting innovative technologies that address unmet needs in vital disease areas,” said Radu Cautis, partner and managing director of MedTech Venture Partners “We are enthusiastic about the potential of GammaTile Therapy to address the shortcomings of current treatments... READ MORE

​​​​Portfolio News

August 26, 2019

GT Medical Technologies, Inc. to be honored with an AZBio Fast Lane Award


Chandler, Arizona –The Arizona Bioindustry Association (AZBio) today announced that GT Medical Technologies, Inc. (GT MedTech) has been named an AZBio Fast Lane Company and will be honored on October 2, 2019 at the AZBio Awards. Approximately 400,000 Americans are newly diagnosed with some type of brain tumor each year. For decades, clinicians have sought better treatments for these patients that would effectively target tumor cells while preserving healthy tissue, but to no avail. There have been few new effective therapies over the past 30 years, and outcomes for patients have improved very little during this time. Recurrence of brain tumors is common, and about half of all patients treated for brain tumors have their disease recur within a year. As a result, patients often run out of treatment options when their tumors reoccur... READ MORE

Portfolio News

February 14, 2019

Doctors at the University of Minnesota are the first in the country to use a breakthrough brain cancer treatment


Minneapolis, Minnesota –  It sounds like science fiction, but doctors at University of Minnesota Health are the first in the country to offer an implantable form of radiation to target brain cancer. The implant is called GammaTile Therapy and Linda Tinega was the first patient in Minnesota to receive it.  "Each tile, has four, radioactive seeds on it," said Tinega, who had five GammaTiles implanted during surgery to remove a cancerous brain tumor two weeks ago. "Health-wise and stuff, it's not even like they're in there. I can't feel them." But her doctors say the tiles are already working, targeting the area where her tumor is most likely to regrow. "By implanting radiation directly, at the time of surgery, you are treating the tumor immediately," said Dr. Clark Chen, Head of the Department of Neurosurgery at...  READ MORE

BlueStone News

BlueStone News

August 16, 2018

Governor Susana Martinez Announces New Catalyst Fund Commitment to BlueStone Venture Partners


Santa Fe, New Mexico – A new venture fund is scouting for local health science startups to invest in, backed by $3 million from the state Catalyst Fund. BlueStone Venture Partners LLC, with offices in Tucson and Santa Fe, must match the state commitment with $3 million from private investors, making at least $6 million available for emerging early-stage companies based in New Mexico. This is the sixth state investment in local venture funds since last year, when the State Investment Council launched the $20 million Catalyst Fund to boost venture activity in New Mexico. To date, Santa Fe-based Sun Mountain Capital, which manages the Catalyst Fund, has approved about $13 million for venture funds that commit capital to local startups to prove their technologies and move to market... READ MORE

​​​Portfolio News

April 11, 2019

GT Medical Technologies Co-Founder to Receive Prestigious Rosenblum-Mahaley Clinical Research Award at 2019 American Association of Neurological Surgeons Annual Scientific Meeting


Tempe, Arizona & San Diego, California – BlueStone portfolio company GT Medical Technologies, Inc., a company dedicated to improving the lives of patients with brain tumors, today announced that Peter Nakaji, M.D., GT MedTech’s co-founder and director of the Neurosurgery Residency Program at Barrow Neurological Institute in Phoenix, has been selected by the American Association of Neurological Surgeons (AANS)/Congress of Neurological Surgeons (CNS) Section on Tumors to receive the Rosenblum-Mahaley Clinical Research Award. The award recognizes established investigators in neuro-oncology who present the best clinical study in the field and acknowledges innovative approaches that lead to improved patient outcomes and quality of life.  Previous winners of this prestigious award...  READ MORE

​​​Portfolio News

June 17, 2019

GT Medical Technologies Announces Presentation of Data Demonstrating the Safety Profile of GammaTile Therapy for Various Brain Tumors​


Tempe, Arizona – GT Medical Technologies, Inc., a company dedicated to improving the lives of patients with brain tumors, today announced the presentation of clinical data from a prospective study of GammaTile® Therapy in patients with previously irradiated intracranial neoplasms (brain tumors) at the American Brachytherapy Society (ABS) 2019 Annual Meeting in Miami. These data reinforce the safety profile of GammaTile Therapy, a surgically targeted radiation therapy (STaRT) that is designed to delay tumor regrowth for patients with recurrent intracranial neoplasms (brain tumors)... READ MORE

BlueStone News

July 27, 2018

BlueStone Venture Partners Announces Initial Funding Close and State of New Mexico Investment in Its Inaugural Venture Fund


Tucson, Arizona & Santa Fe, New Mexico – BlueStone Venture Partners, with offices in Tucson, Arizona and Santa Fe, New Mexico, announced its First Close for the BlueStone Life Sciences Innovation & Technology Fund, LP. BlueStone is focused on Series A and B equity investments in opportunities in the advanced materials, biopharma, healthcare information technology, medical devices, and molecular diagnostics markets. BlueStone has developed an investment thesis for the Fund based on evaluating strengths and favorable attributes including attractive valuations and low cost of market entry found in the Life Science market in the Southwest US. Based on this investment thesis, the Fund will invest primarily in companies with a geographic focus in the Southwest region of the United States but will also invest in companies that exhibit these positive “Southwest-like” attributes... READ MORE

BlueStone News

May 9, 2019

The Creative City Show - Venture Capital and the Innovation Ecosystem in Tucson


Tucson, Arizona –  Mara and Andrew join The Creative City Show host Zach Yentzer for a conversation on venture capital, the innovation ecosystem in Tucson, and the 4th industrial revolution. LISTEN HERE

BlueStone News

August 17, 2018

USNews & World Report: State Funding to Spur Development of Bioscience Startups


Santa Fe, New Mexico – A state economic development fund is providing up to $3 million to help spur growth of New Mexico bioscience startups. Gov. Susana Martinez announced Thursday the Catalyst Fund will provide the funding to BlueStone Venture Partners LLC which in turn will match the state funding and invest in technology companies in early stages of development. Martinez's announcement says BlueStone Venture Partners is a new venture capital firm with a focus on life science technology investments. The Catalyst Fund is comprised of $10 million in public money allocated by the New Mexico State Investment Council, $5 million from... READ MORE

BlueStone News

December 17, 2018

BlueStone Venture Partners, A Local Venture Capital Fund


Tucson, Arizona – The mantra, “Why not us?” has been used across a wide spectrum of issues ranging from economic development to politics to sports. In Southern Arizona and the Southwest region, it is applying to venture capital, an industry that has been notably centered in two hubs – the Bay Area in California, including the Silicon Valley and San Francisco, and the finance centers in Boston and New York. But that is headed for change, said Tom Nickoloff, who launched a venture capital fund, BlueStone Venture Partners, with Tucson businesswoman Mara Aspinall, a healthcare industry CEO, and investment adviser. “There are going to be these other hubs,” Nickoloff said. “I’m not saying we all want to be Silicon Valley. But there’s only so much housing, so much infrastructure you can pack in an area. There are quality-of-life issues that we can take advantage of in the Southwest... READ MORE

New Portfolio Company

May 14, 2019

Paradigm Diagnostics Announces the Addition of Industry Executive Mara Aspinall to the Board of Directors as Part of the Series B Extension Closing Totaling $15 Million


Phoenix, Arizona –  Paradigm Diagnostics, a leading precision medicine company focused on comprehensive cancer testing, announced the addition of Mara Aspinall, Managing Director of BlueStone Venture Partners, to the Board of Directors as part of the closing of Paradigm’s $15 million Series B fundraising. In addition to participation by the founding investors, Mesa Verde Venture Partners, New Science Ventures, and Prairie Ventures, Paradigm is pleased to welcome the addition of Gore Range Ventures, the Tech Coast Angels’ San Diego (TCA-SD), OSF HealthCare Ventures, and BlueStone Venture Partners bringing the final Series B raise to $15 million to help support the rapid commercialization of the flagship product, the Paradigm Cancer Diagnostic (PCDx)... READ MORE

​​​Portfolio News

May 7, 2019

UCSF Rosenman Institute - Preventing Brain Cancer Recurrence with GammaTiles


Tempe, Arizona –Listen to The Health Technology podcast from UCSF Rosenman Institute to hear GT Medical Technologies, Inc. CEO Matt Likens share how GammaTile Therapy challenges the current standard of care for patients with recurrent brain tumors by improving quality of life and delaying time to recurrence for all tumor pathologies (gliomas, meningiomas, metastases, etc.). LISTEN HERE

​​​​Portfolio News

June 11, 2019

PBS, Arizona Horizon -  Implantable Brain Tumor Treatment


Tempe, Arizona – GT Medical Technologies has created a new way to target brain tumors like the type that took the late Senator John McCain’s life. GammaTile technology, invented and developed in Arizona, consists of four tiles implanted in a patient. These tiles contain dosages of radiation that targets glioblastomas. We’ll get more from Dr. David Brachman of GammaTile Technologies... WATCH HERE

​​​​Portfolio News

August 15, 2019

GT Medical Technologies Announces Completion of First Case in Arizona to Use GammaTile Therapy


Scottsdale, Arizona & Tempe, Arizona – HonorHealth Scottsdale Osborn Medical Center is the first hospital in Arizona to begin offering GammaTile Therapy™, a new approach to treating recurrent brain tumors. GammaTile Therapy is an FDA-cleared, surgically targeted radiation therapy (STaRT) that is designed to delay tumor regrowth for patients with all types of recurrent brain tumors. The first patient was treated by John Wanebo, M.D., a neurosurgeon and an independent member of the HonorHealth medical staff... READ MORE

BlueStone News

May 31, 2019

BLUESTONE DIRECTOR, ANDREW MORE, RECOGNIZED AS A 2019 EMERGING LEADER BY THE M&A ADVISOR
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Tucson, AZ, May 31, 2019 - Recently, The M&A Advisor announced the winners of the 2019 Emerging Leaders Awards. The M&A Advisor, renowned globally for its recognition of leading M&A, financing and turnaround professionals, created this event to promote mentorship and professional development amongst the emerging business leaders. Andrew More has been chosen for his accomplishments and expertise from a pool of nominees by an independent judging panel of distinguished business leaders... READ MORE

​​​​Portfolio News

February 14, 2019

University of Minnesota First in U.S. to Offer New Targeted Therapy for Recurrent Brain Tumors


Tempe, Arizona & Minneapolis, Minnesota –  University of Minnesota Health (M Health) is the first health system in the United States to begin offering GammaTile Therapy™, a new approach to treating recurrent brain tumors. GammaTile Therapy is an FDA-cleared, surgically targeted radiation therapy (STaRT™) that is designed to delay tumor regrowth for patients with brain tumors. The first patient was treated by University of Minnesota Physician, Clark C. Chen, M.D., Ph.D., head of the Department of Neurosurgery at the University of Minnesota Medical School. At University of Minnesota Health, our mission is to advance new, safe, and effective therapeutic options for the many brain tumor patients who did not respond to the standard-of-care therapies,” ... READ MORE


New Portfolio Company

October 9, 2018

BroadSpot Imaging Corporation Expands Series A Investment


Richmond, California – BroadSpot Imaging Corporation, a medical device company focused on transforming patient access to superior eye-based diagnostics for ophthalmic and other medical conditions, has expanded the second tranche of its Series A funding for a total closing of $8.6M.  BroadSpot will use the funds to manufacture and launch its first suite of low cost, ultra-widefield imaging devices and related software services. Phoenix Venture Partners (PVP), a leading venture capital firm with domain expertise in optics and advanced materials, led the expanded Series A financing.  PVP was joined in making successive investments by Camino Real Capital Partners (CRCP) and welcomed new investors, BlueStone Venture Partners (BlueStone) and Burwell Investments into the expanded second tranche... READ MORE