The innovator of MR-guided focused ultrasound is scaling to meet the growing demand for incisionless surgery
HAIFA, Israel and MIAMI, March 6, 2020 / INSIGHTEC, a commercial-stage medical technology company, announced today the signing of definitive agreements for a Series F investment round of up to $150 million at a post-money valuation of $1.3 billion. Koch Disruptive Technologies (KDT), a subsidiary of Koch Industries focused on finding and funding innovative and emerging companies, is leading the round and has committed to invest $100 million at an initial closing to follow shareholder approval. This is KDT’s second direct investment in INSIGHTEC.
INSIGHTEC’s Exablate® Neuro incisionless neurosurgery platform is the first MR-guided focused ultrasound device approved by the FDA to treat certain movement disorders in patients suffering from essential tremor and tremor-dominant Parkinson’s disease who have not responded to medications. The financing will support continued research to evaluate focused ultrasound to treat these and other disorders.