HistoSonics, a manufacturer of the Edison Histotripsy System and novel histotripsy therapy platforms, announced the completion of an oversubscribed $102 million Series D financing. This funding 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 form of focused ultrasound that utilizes high amplitude, very short pulses to create a bubble cloud that is designed for mechanically destroying and liquefying targeted liver tumors. These bubble clouds form and collapse in microseconds while creating mechanical forces strong enough to destroy tissue at cellular and subcellular levels in a non-invasive and non-thermal method. Histotripsy offers a promising alternative to treatments such as surgery, radiation, and chemotherapy, which often have significant side effects.
This Series D funding will be used for accelerating category-defining advancements to its non-invasive histotripsy platforms, support commercial growth in the US and in planned global markets, and initiate the company’s innovative, prospective BOOMBOX Master Study that will evaluate HistoSonics’ Edison System for the treatment of liver tumors across multidisciplinary users. And the Edison Histotripsy System was granted FDA De Novo clearance in October 2023. HistoSonics is partnering with leading institutions across the US and internationally to develop multi-disciplinary histotripsy liver programs.
KEY QUOTES:
“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. 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.”
- Mike Blue, President & CEO, HistoSonics
“Alpha Wave is proud to lead the investment in HistoSonics, a pioneer in the use of histotripsy. Histotripsy’s unique non-invasive approach uses focused ultrasound to precisely target and destroy diseased tissue without damaging surrounding healthy tissue. This groundbreaking technology has the potential to transform the treatment landscape for a variety of challenging clinical conditions, offering patients improved outcomes and recovery times. The level of adoption we’ve seen from leading hospital centers across the country and overseas highlights the huge unmet medical need. We are excited to support HistoSonics in accelerating the development and availability of this innovative therapy.”
- Chris Dimitropoulos, Managing Director, Healthcare Investments at Alpha Wave Global, who will be joining the HistoSonics Board of Directors
