Israeli MedTech veteran InSightec, innovator of MR-guided Focused Ultrasound solution, and Royal Philips (NYSE: PHG), a multinational leader in health technology announced a collaboration to expand access to MR-guided Focused Ultrasound.
InSightec’s Exablate Neuro uses focused acoustic energy to precisely target and treat deep in the brain without incisions or implants. MR imaging provides high-resolution imaging and acts as a thermometer for real-time temperature monitoring. The incisionless treatment option is often performed in an outpatient setting. When used to treat Essential Tremor or Tremor-dominant Parkinson’s Disease, many patients demonstrated immediate tremor relief with minimal complications.
“InSightec is committed to expanding patient access for MR-guided focused ultrasound, which is rapidly being adopted as a standard of care worldwide for treating Essential Tremor, as well as continuing to develop a research pipeline for the treatment of many other disorders,” said Maurice R. Ferré MD, InSightec CEO and Chairman of the Board of Directors. “Partnering with Philips will help increase adoption of our innovative technology to transform patient care.”
In mid-2016, InSightec announced an agreement with Siemens Healthineers and then in 2018 received regulatory approvals for the Exablate Neuro platform compatible with several Siemens MRI scanners. Prior to that, the platform had been developed to be compatible with specific GE Medical scanners.
“As a leading innovator in MR imaging to support precise diagnosis and targeted therapies, we continue to expand the role of MR in providing precision guidance for minimally invasive therapy solutions into new treatment areas,” said Arjen Radder, General Manager for MR at Philips. “By partnering with InSightec we are expanding access to Philips’ advanced MR capabilities to a wider range of healthcare providers, including neurosurgery practices both in-hospital and in outpatient settings, as well as the global research community. Together, we aim to advance towards clear care pathways with predictable outcomes for every patient."
According to the agreement, InSightec and Philips expect market introduction for the compatible systems in 2023. InSightec closes out 2020 with yet another key milestone, following an up to $150 million KDT led Series F from March, in addition to securing national healthcare reimbursements in Japan and England.