Insightec Partners with Virginia Tech for Brain Research, Closes $150 Million Series E Funding Round


In a partnership facilitated by the Foundation, Insightec has selected Virginia Tech’s Carilion Research Institute (VTCRI) as its first nonclinical research site for developing new treatment options for brain disorders. VTCRI scientists will use Insightec’s Exablate Neuro system paired with a Siemens MRI unit to study potential applications for attacking brain tumors, opening the blood-brain barrier to deliver therapeutics, and treating psychiatric disorders using FUS-induced neuromodulation.

InsightecLogo 101011 200In their statement announcing the new center, VTCRI’s Executive Director, Michael Friedlander, and Insightec’s CEO and Chairman of the Board, Maurice R. Ferre, MD, both expressed their enthusiasm for the new collaboration. “We share a common vision, a culture of discovery and openness, and a commitment to study and develop scientifically validated technological innovations, to treat patients with otherwise untreatable brain disorders,” said Friedlander, who is also Virginia Tech’s Vice President for Health Sciences and Technology. Ferre added, “Collaboration with academic centers of excellence, such as VTCRI, is a key component of Insightec’s heritage of innovation. Collaboration fuels the scientific breakthroughs that ultimately improve patient lives.”

The collaboration announcement comes at the same time that Insightec closed its Series E $150 million funding round, which was primarily supported by Koch Disruptive Technologies.