Insightec, a Haifa, Israel, and Miami, Fla.-based commercial-stage medical technology company, closed a $150m Series E equity funding.
Koch Disruptive Technologies (KDT), a subsidiary of Koch Industries, focused on finding and funding innovative and emerging companies, led the round with a $100m investment, and joined existing backers Elbit Imaging, York Capital, Exigent Capital Group, GE Healthcare, GEOC, and Meditech Advisors.
The company plans to use the proceeds from the financing to support marketing and commercialization for its approved safe and non-invasive treatments, including Exablate® Neuro for essential tremor (ET), and for continuing research and development towards addressing other brain indications including Parkinson’s disease, Alzheimer’s disease, and cancer.
Led by Maurice R. Ferré, MD, Chief Executive Officer and Chairman of the Board, Insightec has developed non-invasive therapy platforms, Exablate and Exablate Neuro, which are based on sound clinical evidence for treating essential tremor, painful bone metastases and uterine fibroids.
The company has offices in Dallas, Tokyo and Shanghai.