Inisghtec announces $150M financing to fund continued growth
Fidelity Management & Research Company Leads Financing; Nexus Neurotech Ventures and Ally Bridge Group Co-Lead Robust Investor Syndicate
By Matthew Kalman
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.