HAIFA, Israel, Dec. 3 /CNW/ - InSightec Ltd. today announced that the
World Economic Forum has selected the company as one of its Technology
Pioneers for 2008. Technology Pioneers are companies developing and applying
technologies deemed highly transformational and innovative in the areas of
energy, biotechnology and health and information technology.
The World Economic Forum appointed a panel of leading technology experts
to select the finalists from a pool of 273 nominees.
InSightec's vision is to develop the next-generation, non-invasive,
outpatient operating room that minimizes trauma, morbidity and recovery time.
The company's ExAblate(R) 2000 is the world's first and only non-invasive
surgery system to combine focused ultrasound and magnetic resonance imaging.
"We believe this non-invasive technology has the potential to become one
of the major forms of surgery within the next 20 years, helping improve
millions of lives without the long hospitalizations, extended recovery times,
side effects, complication risks and extensive costs associated with invasive
surgery," said Dr. Kobi Vortman, InSightec's President and CEO. "We're pleased
that the World Economic Forum has recognized ExAblate's potential with this
ExAblate received its European CE Marking in 2002 and U.S. Food and Drug
Administration approval in 2004 for treating uterine fibroids, a pervasive
condition that impacts up to 70% of women of childbearing age and leads to
The ExAblate procedure takes about three to four hours and allows the
patient to go home the same day and return to normal activities within a day
or two. Hysterectomy, the most common treatment for this condition, is a major
surgery, requiring two to five days of hospitalization, six to eight weeks of
recovery and generates significant complications. Many women have chosen to
suffer from the severe symptoms that fibroids cause rather than undergo
hysterectomies or other invasive procedures.
Uterine fibroids carry a significant economic burden in terms of the cost
of treatment, hospitalization and work absenteeism. Since the ExAblate
procedure is performed on an outpatient basis without any hospitalization and
allows the patient to return to normal activity with in one to two days, it
offers cost and comfort advantages to patients, healthcare providers and
employers as compared with other treatment modalities.
InSightec has launched an extensive research program to conduct clinical
trials using this technology in various cancerous applications including
breast, bone metastases, liver, brain and prostate, while continuing clinical
trials in uterine fibroids.
To be selected as a Technology Pioneer, a company must be involved in the
development of life-changing technology innovation and have the potential for
long-term impact on business and society. In addition, it must demonstrate
visionary leadership, show all the signs of being a long-standing market
leader - and its technology must be proven.
"This year the World Economic Forum received a record number of
applications from companies around the world to become a Technology Pioneer.
We are extremely pleased to have a community that is using innovation and
technology to dramatically affect the way society and business operate and
doing so in a markedly collaborative manner. We are excited to welcome the
Technology Pioneers class of 2008 to the larger community of the World
Economic Forum and we are looking forward to the fruits that their
collaboration will bring," said Peter Torreele, Managing Director of the World
Twenty-three of the Technology Pioneers 2008 are US-based companies.
Israel and the United Kingdom each boast three; Sweden and Switzerland two
each; Canada, France, Germany, India, the Netherlands and Russia, one each.
Technology Pioneers are nominated in three main categories:
Energy/Environment, Biotechnology/Health and Information Technology.
The entire list of Technology Pioneers and interviews with the CEOs of
the selected companies can be found here:
About the World Economic Forum
The World Economic Forum is an independent international organization
committed to improving the state of the world by engaging leaders in
partnerships to shape global, regional and industry agendas.
Incorporated as a foundation in 1971, and based in Geneva, Switzerland,
the World Economic Forum is impartial and not-for-profit; it is tied to no
political, partisan or national interests. (http://www.weforum.org)
About ExAblate(R) 2000
The ExAblate is the first system to use the breakthrough MRgFUS
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. ExAblate has been
recognized for its innovation and potential to serve mankind and has been
awarded the 2004 European Union's Information Society Technologies grand
prize, The Wall Street Journal's 2004 Technology Innovation Awards, Advanced
Imaging's 2005 Solutions of the Year, the Red Herring 100 Europe 2007 Award
and currently one of the World Economic Forum Technology Pioneer 2008.
InSightec Ltd. is a privately held company owned by Elbit Imaging (EMI),
General Electric, 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 150 employees and has invested more than
$100 million in research, development, and clinical investigations. Its U.S.
headquarters are located in Dallas, Texas. For more information, please go to:
For further information:
For further information: InSightec Ltd., Tel: +972-4-813-1313, Email:
firstname.lastname@example.org; For media inquiries: Fern Lazar, Lazar Partners, Ltd.,
Tel: (212) 867-1762, Email: email@example.com