This can be considered a great success for the Israeli company ‘Insightec’ from Haifa. Insightec is a global healthcare company creating the next generation of patient care by realizing the therapeutic power of focused ultrasound.
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.
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. The most important shareholder, the Koch family with a 40% stake, did not participate in this investment round.
‘Insightec’ was ranked the #1 Most Innovative Company in Israel by Fast Company (2018) and won a Gold Edison Award for the Exablate Neuro device (2018). The company was founded in 1999. The company was founded by Kobi Vortman and Oded Tamir, with seed investment from Elbit Medical Imaging and GE Healthcare.
The company has been considered a so-called ‘unicorn’ since 2020 with a company valuation of USD 1.3 billion. In 2023, however, the company’s value fell to around 211 million USD. Against this background, this financing round is to be considered an essential one.
Maurice R Ferré, M.D., CEO and chairman of the board of Insightec. “This financing provides Insightec with a runway to expand incision-less 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 incision-less, immediate treatment for patients suffering from essential tremor and Parkinson’s disease, according to the press release of the company.
In short, ‘Insightec’ has a very reliable and sound base to come back big again.