The medical device company is transforming
neurological treatments through its non-invasive focused ultrasound
applications
WICHITA, KS and HAIFA, Israel, Dec. 14,
2017 /CNW/ - Koch Disruptive Technologies, a subsidiary of
Koch Industries focused on finding and funding innovative and
emerging companies, is the lead investor in a $150 million Series E funding round for
INSIGHTEC, a commercial-stage medical device company
revolutionizing surgery with MRI-guided focused ultrasound.
(Logo:
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The investment, announced Thursday, will allow the company to
further commercialize its approved indications, as well as continue
research in areas such as Parkinson's disease, Alzheimer's disease
and brain tumors, using the company's breakthrough technology to
deliver treatment in a non-invasive way. It is also the first
investment for Koch Disruptive Technologies since the business
group, led by KDT President Chase
Koch, commenced operations in November.
"This investment aligns well with the founding principles of
both Koch Disruptive Technologies and Koch Industries," said Koch.
"With a track record of driving innovation and improving patient
outcomes, INSIGHTEC has itself invested and expanded its
capabilities to advance surgical medicine to improve the health and
quality of life of millions of patients."
"Hospitals around the world are increasingly pursuing
incisionless treatment options for their patients using our focused
ultrasound therapy," said Maurice R. Ferré, MD, INSIGHTEC's CEO and
Chairman of the Board, who has led multiple transformative medical
technology companies throughout his career. "This investment round
elevates INSIGHTEC into a new strategic position within the health
care industry."
INSIGHTEC's Exablate Neuro is the first focused ultrasound
device approved by the FDA to treat essential tremor that has not
responded to medication and recently received the Best Medical
Technology award by Prix Galien. The
company surpassed 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.
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.
"Transformative ideas know no borders and can come from anyone,
anywhere," said Steve Feilmeier,
Executive President and CFO, Koch Industries, Inc. "We are
well-positioned to harness these breakthroughs happening all over
the globe and to also support the next generation of promising
entrepreneurs."
Jefferies LLC, the global investment banking firm, advised
INSIGHTEC for the investment round. Existing investors in INSIGHTEC
include Elbit Imaging, York Capital, Focus Holdings, GE Healthcare,
GEOC, and Meditech Advisors. INSIGHTEC is headquartered in
Haifa, Israel, and Miami, with offices in Dallas, Tokyo
and Shanghai.
About Koch Industries
Based in Wichita, Kansas, Koch
Industries, Inc. is one of the largest private companies in America
with estimated annual revenues as high as $100 billion, according to Forbes. It owns a
diverse group of companies involved in refining, chemicals, and
biofuels; forest and consumer products; fertilizers; polymers and
fibers; process and pollution control equipment and technologies;
electronics; information systems; commodity trading; minerals;
energy; glass; ranching; and investments. Since 2003, Koch
companies have invested more than $80
billion in acquisitions and other capital expenditures. With
a presence in about 60 countries, Koch companies employ more than
120,000 people worldwide, with about 70,000 of those in
the United States. From
January 2009 to present, Koch
companies have earned more than 1,200 awards for safety,
environmental excellence, community stewardship, innovation, and
customer service. For more news and stories, visit
http://www.kochnews.com.
About Koch Disruptive Technologies
Founded in November 2017 upon the
spirit of transformation, Koch Disruptive Technologies originates
and invests in promising entrepreneurs and technologies across
industries to improve Koch's existing businesses and create new
opportunities. Learn more:
http://news.kochind.com/news/2017/koch-disruptive-technologies-ready-to-transform
About INSIGHTEC
INSIGHTEC is the world leader and innovator of MR-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. The company is dedicated to improving patient
lives by collaborating with physicians, medical institutions,
academic researchers and regulatory bodies around the world.
For more information, please visit: http://www.insightec.com
SOURCE INSIGHTEC