HistoSonics closes $102 million financing for its non-invasive Histotripsy platform

HistoSonics, maker of the Edison Histotripsy System and new histotripsy therapy platforms, announced the closing of an oversubscribed $102 million Series D financing. The round was led by Alpha Wave Ventures, a global leader in growth-stage investing, with new participation from Amzak Health and HealthQuest Capital. Existing investors included Johnson & Johnson Innovation - JJDC, Inc. (JJDC), Venture Investors, Lumira Ventures, Yonjin Venture, the State of Wisconsin Investment Board and others.

HistoSonics' Edison System uses proprietary technology and advanced imaging to deliver customized, non-invasive histotripsy treatments that are precise and controlled and also enables rapid recovery. HistoSonics' platform enables physicians to track and monitor tissue destruction in real-time. Histotripsy uses focused ultrasound that produces "microbubbles" at high amplitudes and very short intervals that torpedo and destroy liver tumors. These bubbles form and then disintegrate again in microseconds. This creates strong mechanical forces that can destroy tissue at the cellular and sub-cellular level in a non-invasive and non-thermal way. Histotripsy offers a promising alternative to surgery, radiation and chemotherapy, which often have significant side effects.

The Series D financing is needed to accelerate advances in the non-invasive histotripsy platform and to support business growth in the US and other global markets. The company also plans to conduct an innovative BOOMBOX master study that will evaluate the multidisciplinary treatment of liver cancer with HistoSonics' Edison System. The Edison Histotripsy System was certified De Novo by the FDA in October 2023. HistoSonics is currently working with leading institutions in the US and internationally to develop multidisciplinary liver histotripsy programs.

Mike Blue, President & CEO, HistoSonics said, “We plan to expand the application to other organs such as kidney, pancreas, prostate and brain. The funding will enable us to accelerate important projects and improve key technical features of the current and future platforms, as well as to intensify our collaboration with physicians and researchers who are exploring innovative methods using this unique mechanism for the benefit of patients."