HistoSonics Pockets $102M in Oversubscribed Series D

HistoSonics, maker of the Edison histotripsy system and novel histotripsy platforms, has completed an oversubscribed $102 million Series D financing round.
 
The round was led by Alpha Wave Ventures, a world leader in growth stage investments, with participation from new investors Amzak Health and HealthQuest Capital, and existing investors Johnson & Johnson Innovation – JJDC, Inc. (JJDC), Venture Investors, Lumira Ventures, Yonjin Venture, the State of Wisconsin Investment Board, and others.
 
Histotripsy is a novel form of focused ultrasound that leverages high amplitude, very short pulses to generate a “bubble cloud” to mechanically destroy and liquefy targeted liver tumors. The bubble clouds form and collapse in microseconds, creating mechanical forces strong enough to destroy tissue. It does so at the cellular and sub-cellular manners in a non-invasive, non-thermal method.
 
Unlike any existing modality, the platform allows monitoring tissue destruction under continuous, real-time visualization and control. The company believes histotripsy could be a promising alternative to surgery, radiation, and chemotherapy.
 
The Series D funding, according to HistoSonics, will support U.S. commercial growth as well as growth in planned global markets. It will also be used to begin the prospective BOOMBOX Master Study to evaluate the Edison system to treat liver tumors across multidisciplinary users.
 
The Histotripsy system earned FDA de novo clearance in October 2023.
 
“Histotripsy is a paradigm-changing treatment option for patients who want a non-invasive approach to target and destroy tumors without the need for needles or incisions,” said Mike Blue, president and CEO of HistoSonics. “We’re thrilled to announce this top-tier investor syndicate led by Alpha Wave, which reinforces the confidence in our mission to impact patients’ lives with our current liver application and expanded use in kidney, pancreas, prostate, brain and other tumor types. This funding will accelerate key projects designed to enhance core technical capabilities impacting current and future platforms, and support collaboration with physicians and researchers studying innovative ways to use histotripsy’s unique mechanism of action to improve patient outcomes. By pioneering a new category of medicine with histotripsy, HistoSonics is redefining liver tumor treatment and providing hope for millions of people worldwide who desperately need new options.”