InSightec Selected as a 2008 World Economic Forum Technology Pioneer

InSightec Selected as a 2008 World Economic Forum Technology Pioneer

December 03, 2007

    HAIFA, Israel, Dec. 3 /Xinhua-PRNewswire/ -- 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 prestigious
designation."

    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
serious symptoms.  

    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 employees 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 Economic Forum.

    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:
http://www.weforum.org/techpioneers/2008 .

    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(R) 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.

    About InSightec

    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: http://www.insightec.com 
    For more information, please contact:

     InSightec Ltd.
     Tel:   [phone]
     Email: [e-mail]
     Web:   http://www.insightec.com/  

    For media inquiries:

     Fern Lazar
     Lazar Partners, Ltd.
     Tel:   [phone]
     Email: [e-mail]
SOURCE  InSightec Ltd.