Koch Industries to invest $75 Million in Insightec
17 December, 2017
INSIGHTEC has invented a new non-invasive surgery technology based on MRI-guided focused ultrasound. The financing round may reach $150 million
Koch Industries leads a $150 million funding round in the medical devices company INSIGHTEC from Haifa, Israel. During the fist stage of the round, Kock will bring its own $75 million for approximately 17% of the company. Other investors plan to join Koch with an extra funding of up to $75 million. The deal was made under company evaluation $460 million. INSIGHTEC has invented a new non-invasive surgery technology based on MRI-guided focused ultrasound. The company’s non-invasive therapy platforms, Exablate and Exablate Neuro, are proven technology based on sound clinical evidence for treating essential tremor, painful bone metastases and uterine fibroids.
For each of the clinical applications, the treating physician defines a region of treatment and the system creates a treatment plan accordingly. During treatment, ultrasound beams are focused to a focal point to heat and ablate the targeted tissue. The treatment is guided by MRI which provides high resolution images of the target and adjacent structures as well as continuous temperature monitoring. The temperature data is analyzed to determine the cumulative thermal impact on the tissue. If necessary, parameters can be adjusted to ensure optimal response.
1,000th patient milestone
Up to now, more than 20,000 procedures for a range of clinical applications already performed with its technology. INSIGHTEC’s Exablate Neuro is the first focused ultrasound device approved by the FDA to treat essential tremor that has not responded to medication. The company reported the 1,000th patient milestone earlier this year, as essential tremor patients are routinely being treated with focused ultrasound at 40 medical centers around the world.
The new investment is planned to finance exploration of the MR-guided ultrasound further to treat Parkinson’s disease, prostate cancer, liver cancer and pancreatic cancer. Clinical research with the company’s technology has already successfully disrupted the blood-brain barrier, which holds the potential for targeted drug delivery to treat Alzheimer’s disease and brain tumors. “Hospitals around the world are increasingly pursuing incisionless treatment options for their patients,” said Maurice R. Ferré, MD, INSIGHTEC’s CEO and Chairman of the Board. “This investment round elevates INSIGHTEC into a new strategic position within the health care industry.”
More information: www.insightec.com