Navigation Links
InSightec Ltd. Announces US$15 Million Investment Round
Date:3/19/2009

TIRAT CARMEL, Israel, March 19 /PRNewswire/ -- InSightec Ltd. reported today that it has closed an internal round of financing totaling US$15 million from its existing investors.

Elbit Imaging Ltd. (NASDAQ: EMITF) ("EI") has invested US$7.5M on March 18, 2009. Additional US$7.5M would be invested no later than 12 months following the date hereof by its existing investors.

The investment will take the form of Preferred Shares B, which are convertible to InSightec's ordinary shares subject to the fulfillment of certain conditions stipulated in the agreement.

InSightec reported that the funds would be used to expand its research and development efforts, for marketing and sales activities, and for general corporate purposes.

InSightec's President and CEO, Dr. Kobi Vortman said, "We are very proud in the ongoing trust we are receiving from our investors that share our vision that this technology is the enabler of the next generation operating room that will be a non-invasive and outpatient operating room."

"The ExAblate(R) 2000 treatments of uterine fibroids continue to grow globally with excellent clinical results driving market adoption in more than 70 leading sites globally and over 4500 women treated worldwide. In parallel, InSightec is expanding its research into the oncology areas: bone metastases, prostate cancer, breast cancer, liver tumors and brain tumors. Recent publications have shown that Magnetic Resonance-guided Focused Ultrasound (MRgFUS) with the ExAblate(R) system has the potential to be an effective noninvasive pain-relieving treatment for tumors that have spread to the bones (bone metastases). InSightec is conducting a phase III pivotal trial for the treatment of pain palliation of bone metastases. In addition, a Fertility Enhancement study is being performed evaluating the potential of ExAblate fibroids' treatments to enhance fertility when other potential causes of women's infertility have been ruled out.

"The investment will allow acceleration of the technical and clinical research for oncology applications providing improved care for patients around the world."

About ExAblate(R) 2000

ExAblate is the first system to use the MR guided focused ultrasound technology that combines MRI - to visualize the body anatomy, plan the treatment and monitor treatment outcome in real time - and high intensity focused ultrasound to thermally ablate tumors inside the body non-invasively. MR thermometry, provided uniquely by the system, allows the physician to control and adjust the treatment in real time to ensure that the targeted tumor is fully treated and surrounding tissue is spared. The ExAblate system was approved by the U.S. Food and Drug Administration in 2004 as a treatment for symptomatic uterine fibroids. Over 4,500 women have been treated world wide to date. ExAblate(R) 2000 received the European CE Mark certification for pain palliation of bone metastases in June 2007.

About InSightec

InSightec Ltd. is a privately held company owned by Elbit Imaging, GE, MediTech Advisors, LLC and employees. It was founded in 1999 to develop the breakthrough MR guided Focused Ultrasound technology and transform it into the next generation operating room. Headquartered near Haifa, Israel, the company has over 160 employees and has invested more than US$120 million in research, development, and clinical investigations. Its U.S. headquarters are located in Dallas, Texas. For more information, please go to: http://www.insightec.com/

    Contact Information:
    InSightec Ltd.
   http://www.insightec.com/
    Tel: +972-4-813-1313
    Email: info@insightec.com

    For media inquiries:
    Hollister Hovey
    Lazar Partners, Ltd.
    Tel: +1-212-867-1762
    Email: hhovey@lazarpartners.com


'/>"/>
SOURCE InSightec Ltd
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. InSightec Resumes Clinical Trials for Non-Invasive Treatment of Brain Tumors
2. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
3. YM BIOSCIENCES ANNOUNCES COMPLIANCE WITH AIM RULE 26
4. Emisphere Technologies, Inc. Announces Pricing of Registered Direct Offering
5. BioLife Solutions Announces Exclusive CryoStor(TM) Supply Agreement With the New England Cryogenic Center, Inc.
6. Carrington Announces Nasdaq Communication; Prepares for Shares to Be Quoted on the OTC Bulletin Board and Pink Sheets
7. China Kangtai Cactus Biotech Files 2nd Quarter 2007 10QSB and Announces Unaudited Quarterly Results
8. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
9. Advanced Life Sciences Announces Receipt of Nasdaq Staff Letter
10. ADVENTRX Announces Fast Track Designation Granted By the FDA For CoFactor For the Treatment of Metastatic Colorectal Cancer
11. Angiotech announces additional diameters of sutures to further expand its Quill(TM) SRS PDO product line
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... (PRWEB) , ... October 12, 2017 , ... ... for two-dimensional representations of a complex biological network, a depiction of a system ... big mess,” said Dmitry Korkin, PhD, associate professor of computer science at Worcester ...
(Date:10/12/2017)... ... , ... AMRI, a global contract research, development and manufacturing ... and quality of life, will now be offering its impurity solutions as a ... requirements for all new drug products, including the finalization of ICH M7 earlier ...
(Date:10/11/2017)... ... October 11, 2017 , ... ComplianceOnline’s Medical Device Summit is back ... 8th June 2018 in San Francisco, CA. The Summit brings together current and former ... CEOs, board directors and government officials from around the world to address key issues ...
(Date:10/11/2017)... ... 11, 2017 , ... A new study published in Fertility ... fresh in vitro fertilization (IVF) transfer cycles. The multi-center matched cohort ... After comparing the results from the fresh and frozen transfer cohorts, the authors ...
Breaking Biology Technology:
(Date:5/16/2017)... 2017  Veratad Technologies, LLC ( www.veratad.com ), an ... identity verification solutions, announced today they will participate as ... 15 thru May 17, 2017, in Washington ... Center. Identity impacts the lives of ... quickly evolving digital world, defining identity is critical to ...
(Date:4/18/2017)... Inc., a global expert in SoC-based imaging and computing solutions, has ... features the company,s hybrid codec technology. A demonstration utilizing TeraFaces ® ... be showcased during the upcoming Medtec Japan at Tokyo Big Sight ... Las Vegas Convention Center April 24-27. ... Click here for an image of the ...
(Date:4/11/2017)... DUBLIN , Apr. 11, 2017 Research ... Tracking Market 2017-2021" report to their offering. ... The global eye tracking market to grow at ... The report, Global Eye Tracking Market 2017-2021, has been prepared based ... report covers the market landscape and its growth prospects over the ...
Breaking Biology News(10 mins):