Fidelity Management & Research Company
Leads Financing; Nexus Neurotech Ventures and Ally Bridge Group
Co-Lead Robust Investor Syndicate
HAIFA,
Israel and MIAMI,
June 18,
2024 /CNW/ -- Insightec, a global healthcare company
dedicated to using focused ultrasound to transform patient care,
today announced it has raised $150
million in equity financing. The round was led by Fidelity
Management & Research Company and co-led by Nexus Neurotech
Ventures and Ally Bridge Group. Support from new investors, Baillie
Gifford, Catalio Capital Management, Fayez
Sarofim & Co., and Gilmartin Capital, along with strong
support from insiders, led by affiliates of York Global Finance /
Community Fund and Perceptive Advisors generated an oversubscribed
round.
"We are grateful for the strong support of our mission from
these new and existing investors," said Maurice R Ferré, M.D., CEO
and chairman 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."
With over 160 systems installed worldwide, Insightec's
proprietary technology has been used in nearly 20,000 commercial
applications and is currently FDA approved as an incisionless,
immediate treatment for patients suffering from essential tremor
and Parkinson's disease.
About Insightec
Insightec is a global healthcare company creating the next
generation of patient care by realizing the therapeutic power of
focused ultrasound. The company's Exablate Prime platform focuses
sound waves, safely guided by MRI, to provide tremor treatment to
patients with medication-refractory essential tremor and
Parkinson's disease. Research for future applications in the
neuroscience space is underway in partnership with leading academic
and medical institutions. Insightec is headquartered
in Haifa, Israel, and Miami, with offices
in Dallas, Shanghai, and Tokyo.
Forward-looking Statements:
This document contains forward-looking statements regarding,
among other things, plans, expectations, and future events. In some
cases, forward-looking statements can be identified by the
following words: "may," "can," "will," "could," "would," "should,"
"expect," "intend," "plan," "anticipate," "believe," "estimate,"
"predict," "project," "potential," "promise," "continue,"
"ongoing," or the negative of these terms. Forward-looking
statements involve known and unknown risks, uncertainties and other
important factors that could cause actual results to differ
materially from what is expressed or implied by the statements. Any
forward-looking statement is based on information available to
Insightec as of the date of the statement. All written or oral
forward-looking statements attributable to Insightec are qualified
by this caution. Insightec does not undertake any obligation to
update or revise any forward-looking statement to reflect any
change in circumstances or in Insightec's expectations.
"Exablate," and "Exablate Prime," as well as the
"INSIGHTEC" logo, whether standing alone or in connection with
the word "Insightec," are protected trademarks of Insightec.
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SOURCE Insightec