HistoSonics has closed an oversubscribed $102 million Series D financing round, led by Alpha Wave Ventures. New investors Amzak Health and HealthQuest Capital joined existing backers Johnson & Johnson Innovation – JJDC, Inc., Venture Investors, Lumira Ventures, Yonjin Venture, and the State of Wisconsin Investment Board. This funding will support the expansion of their Edison® Histotripsy System and other histotripsy therapy platforms.
Histotripsy is an innovative focused ultrasound technique that creates a “bubble cloud” to non-invasively destroy and liquefy liver tumors through mechanical forces. This method, which relies on high-amplitude, short pulses, avoids the side effects associated with surgery, radiation, and chemotherapy.
The Series D funding will advance HistoSonics’ histotripsy technology, expand its U.S. and global market presence, and support the BOOMBOX Master Study, assessing the Edison System for liver tumor treatment. FDA granted the Edison Histotripsy System De Novo clearance in October 2023. HistoSonics is collaborating with top institutions to develop histotripsy liver programs.
Mike Blue, HistoSonics’ CEO, expressed excitement about the investment from Alpha Wave and its potential to transform treatment for various tumor types. Chris Dimitropoulos from Alpha Wave highlighted histotripsy’s potential to revolutionize treatment with its precise, non-invasive approach. Dimitropoulos will join the HistoSonics Board of Directors as part of this financing round.
HistoSonics, based in Ann Arbor and Minneapolis, is developing the Edison System for liver tumor treatment and exploring histotripsy for other organs. The Edison System, designed for non-invasive tumor destruction, has not yet been evaluated by the FDA for specific diseases or conditions.
