InSightec, a Tirat Carmel, Israel-based developer of MR-guided focused ultrasound (MRgFUS) therapy for the non-invasive treatment of tumors, is raising $50m in its current D funding round.
The investment will be used to accelerate market development and strengthen the implementation of InSightec’s strategy developing the next generation non-invasive operating room.
The investment is made by York Capital Management, a new investor in the company, leaving a limited time offer for other investors to invest in the current round either by taking part of the $50m or expanding the investment to $62.5m. InSightec’s pre-money valuation of the current round is $200m.
Led by Kobi Vortman, Ph.D., CEO, InSightec is privately held by Elbit Imaging, General Electric, and MediTech Advisors. Founded in 1999 InSightec developed ExAblate to transform MRI-guided Focused Ultrasound (MRgFUS) into a clinically viable technology.