Insightec announced that it raised $150 million to further support its incision-less, ultrasound-based neurosurgery technology.
Fidelity Management & Research Company led the round, along with co-leaders Nexus Neurotech Ventures and Ally Bridge Group. New investors Baillie Gifford, Catalio Capital Management, Fayez Sarofim & Co., and Gilmartin Capital also provided support. Insiders, led by affiliates of York Global Finance/Community Fund and Perceptive Advisors participated, too.
Haifa, Israel–based Insightec — which has its U.S. headquarters in Miami — develops focused ultrasound technology. Its Exablate Prime platform focuses MRI-guided sound waves to provide tremor treatment to patients with medication-refractory essential tremor and Parkinson’s disease.
Focused ultrasound has FDA approval to treat both sides of the body. Last fall, the company received positive coverage for its essential tremor therapy.
The company also has research for future applications in the neuroscience space. It already has more than 160 systems installed worldwide, with use in nearly 20,000 commercial applications, according to a news release.
“We are grateful for the strong support of our mission from these new and existing investors,” said Dr. Maurice R Ferré, CEO and chair of the board of Insightec. “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.”
