InSightec raises $150mm in Series E round prior to planned IPO

In the largest late-stage round by an Israeli device company to date, InSightec Ltd. (magnetic resonance imaging-guided focused ultrasound surgery (MRgFUS)) raised $150mm in a Series E round led by Koch Disruptive Technologies (an investment group of the diversified company Koch Industries), which was joined by InSightec's returning backers Elbit Imaging (which holds a 31.3% stake), York Capital, Exigent Capital Group, GE Healthcare, GEOC, and Meditech Advisors. The company will use the proceeds to advance commercialization efforts for its MRgFUS technologies, ExAblate and ExAblate Neuro, in approved indications in essential tremor, cancer pain, neuropathic pain, prostate cancer, and uterine fibroids, and continue R&D in new areas, including Alzheimer's disease, Parkinson’s disease, obsessive-compulsive disorder, and brain, liver, and pancreatic cancers. Industry sources say this is the InSightec's last private round before a planned IPO.