HistoSonics Closes $250M Growth Financing

HistoSonics, developer of the Edison histotripsy system, recently closed an oversubscribed $250 million financing.

The company’s new ownership group led the financing and included further investors Thiel Bio and Founders Fund, in addition to others. HistoSonics said the funds will support ongoing commercial expansion for the Edison system into new markets, power new clinical indications, and strengthen the company’s operational capacity.

This funding comes after HistoSonics’ recent $2.25 billion majority stake acquisition by a consortium of international tech and life science investors.

The company earned its first U.S. Food and Drug Administration (FDA) de novo clearance in October 2023 and hopes to pioneer a new non-invasive therapy that uses histotripsy—therapeutic focused ultrasound energy—to liquefy and destroy tumors and tissue under real-time image guidance without being invasive or toxic like traditional procedures.

“This funding, which was a shared priority of our new ownership group, enables us to accelerate key projects designed to expand global access to our platform and advance our therapy across an unprecedented number of new clinical applications and for the patients who need it most,” said HistoSonics’ chairman and CEO, Mike Blue.

The company hopes to move beyond its initial focus on liver tumors to kidney, pancreas, and prostate indications—the goal is to establish histotripsy as a treatment option throughout the body for both benign and malignant conditions.

“Treatment decisions often force a trade-off between survival and suffering. HistoSonics shows that fundamental technological innovation can free us from such Faustian bargains,” said Hannes Holste of Thiel Bio. “Beyond the focus today on abdominal tumors, the opportunity is to reimagine how a non-invasive approach could move treatment for other diseases earlier, alleviate the anxiety of monitoring, and preserve quality of life.”