Insightec, a healthcare company dedicated to using focused ultrasound to transform patient care, announced it has raised an oversubscribed $150 million in equity financing. This round was led by Fidelity Management & Research Company and co-led by Nexus Neurotech Ventures and Ally Bridge Group.
Support was also provided by new investors Baillie Gifford, Catalio Capital Management, Fayez Sarofim & Co., and Gilmartin Capital, and strong support from insiders, led by affiliates of York Global Finance / Community Fund and Perceptive Advisors.
With 160+ systems installed worldwide, Insightec’s technology has been used in nearly 20,000 commercial applications and it is currently FDA approved as an incisionless and immediate treatment for patients suffering from essential tremor and Parkinson’s disease.
Insightec’s Exablate Prime platform focuses on sound waves, safely guided by MRI, to provide tremor treatment to patients with medication-refractory essential tremor and Parkinson’s disease. And the research for future applications in the neuroscience space is underway in partnership with leading academic and medical institutions. Insightec is based in Haifa, Israel, and Miami, with offices in Dallas, Shanghai, and Tokyo.
KEY QUOTES:
“We are grateful for the strong support of our mission from these new and existing investors. This financing provides Insightec with runway to expand incisionless neurosurgery to the many patients suffering from movement disorders and continue to make calculated and strategic investments in new indications.”
– Maurice R Ferré, M.D., CEO and chairman of the board of Insightec
