Greenberg Traurig is representing INSIGHTEC in obtaining $150 million in Series E financing in what is thought to be the largest private, pre-IPO med-tech funding round in Israel’s history.
Haifa, Israel-based INSIGHTEC, led by Miami-based Dr. Maurice Ferré, is a commercial-stage medical device company revolutionizing surgery with MRI-guided focused ultrasound. The lead investor in the transaction was Koch Disruptive Technologies, a subsidiary of Koch Industries focused on finding and funding innovative and emerging companies.
The investment will allow INSIGHTEC to further commercialize its approved indications, as well as continue research in areas such as Parkinson’s disease, Alzheimer’s disease and brain tumors, using the company’s breakthrough technology to deliver treatment in a non-invasive way. Founded in 1999, INSIGHTEC has developed a non-invasive therapy platform that transforms medicine in an expanding number of neurosurgery and oncology indications. The company created an image-guided alternative for deep brain procedures such as thalamotomy and pallidotomy for essential tremor, tremor dominant Parkinson’s disease and neuropathic pain.
The multi-office Greenberg Traurig team of attorneys in the deal is led by Shareholder Robert L. Grossman (picture), assisted by Joey T. Shabot, Managing Shareholder of the firm’s Tel Aviv office, Shareholders Mathew B. Hoffman (Fort Lauderdale), Seth J. Entin (Miami), and Stephen M. Pepper (New York), Associates Eliott Rimon (Miami) and Simon Harms (London), Of Counsels Michele A. Kulerman (New York) and Karen C. Corallo (Washington, D.C.), and Practice Group Attorney Rebecca Tracy Rotem (Washington, D.C.).
Israeli Counsel was Rick Mann, Ifat Sheftel and Ofer Zahavi of Gross, Kleinhendler, Hodak, Halevy, Greenberg & Co.
Involved fees earner: Robert Grossman – Greenberg Traurig; Joey Shabot – Greenberg Traurig; Eliott Rimon – Greenberg Traurig; Michele Kulerman – Greenberg Traurig; Karen Corallo – Greenberg Traurig; Mathew B. Hoffman – Greenberg Traurig; Seth Entin – Greenberg Traurig; Rebecca Tracy Rotem – Greenberg Traurig; Stephen Pepper – Greenberg Traurig; Simon Harms – Greenberg Traurig;
Law Firms: Greenberg Traurig;