INSIGHTEC, a commercial-stage medical technology company led by Maurice R. Ferré, announced on Friday that it has raised a Series F investment round of up to $150 million at a post-money valuation of $1.3 billion.
“Our partnership with KDT and other investors is helping to fuel our momentum as a rapidly growing number of medical institutions adopt our focused ultrasound technology,” said Ferré, CEO and chairman, in a statement. “This new investment demonstrates our investors’ commitment to help drive the next generation of focused ultrasound.”
INSIGHTEC’s Exablate Neuro incisionless neurosurgery platform is approved by the FDA to treat patients suffering from essential tremor and tremor-dominant Parkinson’s disease who have not responded to medications, the company said in its announcement. Its device uses high intensity sound waves to ablate the brain’s thalamus, leading to a reduction in hand tremors.