InSightec, an Israel-based ultrasound system developer backed by conglomerate General Electric, has closed a $59m series D round backed by undisclosed major institutional investors from the US and Asia.
The company revealed in June that it had secured $50m investment from hedge fund sponsor York Capital Management and invited investors to either take part of the $50m or to add additional capital.
GE Healthcare, a subsidiary of General Electric, invested $27.6m of the $30.9m InSightec raised from its 2012 series C round in 2012.
Other investors in InSightec include holding company Elbit Imaging, Geoc Hengtong Investment and MediTech Advisors. It raised $15m in a 2009 series B round, which followed a $30m series A in 2007.
The company recently completed enrolment for a Phase 3 clinical trial for the neurosurgical application of its lead product, ExAblate Neuro. It will use the funding to support its clinical trials to expand marketing and sales efforts.
InSightec has granted existing shareholders an extended deadline of January 30, 2015 to invest an additional $3.5m.
– Photo courtesy of InSightec