Koch to lead $150M Investment in INSIGHTEC
3 February, 2018
INSIGHTEC uses focused ultrasound waves to target and ablate tissue deep in the brain with no surgical incisions or implants. The treatment is done under MRI guidance for real-time treatment monitoring
It is the probably the biggest private placement of Israeli Medical Devices company: Koch Industries is the lead investor in a $150 million Series E funding round for INSIGHTEC, a commercial-stage medical device company providing an MRI-guided focused ultrasound. In fact, Koch Disruptive Technologies (KDT), a subsidiary of Koch Industries, led the round with a $100 million investment.
INSIGHTEC’s Exablate Neuro is the first focused ultrasound device approved by the FDA to treat essential tremor that has not responded to medication. With more than 20,000 procedures for a range of clinical applications already performed with its technology, this investment will allow INSIGHTEC to drive further uses of MR-guided ultrasound 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.
Exablate Neuro uses focused ultrasound waves to target and ablate tissue deep in the brain with no surgical incisions or implants. The treatment is done under MRI guidance for real-time treatment monitoring. In May 2017, INSIGHTEC Received FDA Approval for Exablate Neuro for 1.5T MRI in the Treatment of Essential Tremor. Following the approval INSIGHTEC has decided to initiate a pivotal study of the Exablate Neuro for treating dyskinesia symptoms or motor fluctuations of advanced Parkinson’s disease patients who have not responded to medication.
Parkinson’s disease afflicts millions of people worldwide, including approximately one million in the United States alone with 60,000 additional diagnoses each year. Treatment with the Exablate Neuro is intended to improve motor function and reduce dyskinesia, one debilitating symptom that presents as uncontrolled, involuntary movement of the arms and/or legs.
To the company: www.insightec.com