HistoSonics Closes New Financing, Now Valued at $3.75B

HistoSonics has closed a new financing round with participation from Reed Jobs and Yosemite, along with several new strategic investors. Further financing terms were not disclosed.

The financing’s proceeds will be used to support continued commercial expansion, clinical development programs, additional regulatory initiatives, and advancement of the company’s pipeline applications.

The financing arrives as the company continues to extend clinical adoption of histotripsy for liver tumors and quickly advancing additional applications of its non-invasive platform across solid tumors. In the past year, HistoSonics has sped commercial and clinical progress in destruction of liver tumors, including metastatic disease.

“Building a generational company requires partners who bring more than capital,” said Mike Blue, chairman and CEO of HistoSonics. “This financing continues to add strategic investors who understand our mission, appreciate the magnitude of the opportunity ahead, and share our commitment to delivering lasting value for patients, physicians, and shareholders.”

The company recently submitted a de novo request to the U.S. Food and Drug Administration (FDA) pursuing clearance for destruction of kidney tumors. It’s also advancing toward an anticipated FDA submission for pancreatic applications as clinical and technical milestones continue to occur.

Histotripsy is a non-invasive therapeutic platform that leverages focused ultrasound energy and acoustic activation to mechanically destroy targeted tissue without surgery or ablation. The Edison histotripsy system earned FDA de novo clearance to destroy liver tumors and clinical adoption has since been expanding in the U.S. and internationally.

“Yosemite’s mission is to help accelerate technologies that have the potential to meaningfully change outcomes for patients,” said Reed Jobs. “And for me it’s a personal mission. HistoSonics is pioneering an entirely new approach to addressing some of the world’s deadliest cancers and diseases, and we are excited to support the company as it expands the reach of histotripsy throughout the entire body.”

Last month, the company earned Taiwan Food and Drug Administration (TFDA) approval for the Edison histotripsy system