HistoSonics, creator of the Edison Histotripsy System, has been acquired in a majority stake deal by global investors including K5 Global, Bezos Expeditions, and Wellington Management, valuing the company at $2.25 billion. Additional investors include Alpha JWC Ventures, Alpha Wave Ventures, Johnson & Johnson – JJDC, Inc., and others.
Led by President and CEO Mike Blue, who will become Chairman, HistoSonics aims to expand from liver tumors into kidney, pancreas, and prostate treatments. The system uses focused ultrasound to non-invasively destroy targeted tissue, with over 2,000 patients treated at 50 U.S. medical centers and plans for further installations. The company is running clinical trials for liver, kidney, and pancreas tumors, supported by extensive research.
Advisors: Citi served as financial advisor, and Fox Rothschild served as legal advisor to HistoSonics. Morgan Stanley served as financial advisor and Cooley, with assistance from Orrick, served as legal advisors to the investment syndicate. Wilson Sonsini Goodrich & Rosati served as legal advisor to Histosonics’ existing major shareholders.
KEY QUOTES:
“Our relentless focus as a company has been speed, scale, and the urgency to offer patients a better option than any they have today. This new group of partners backs category-defining companies that transform entire industries. Their support gives us the firepower to accelerate our momentum, expand into new clinical indications, and reach even more patients around the world who urgently need our breakthrough therapy.”
Mike Blue
“What stood out with HistoSonics wasn’t just the technology, it was the speed and clarity with which the team turned a breakthrough into real clinical traction. Hospitals are continuing to order systems, patient demand is surging, and the clinical results speak for themselves. We partnered with HistoSonics because this is one of those rare moments where the science, the execution, and the opportunity all align, and we are here to ensure it reaches every hospital in the world.”
Bryan Baum, Co-Founder and Managing Partner, K5 Global
“I am thrilled about this landmark moment for HistoSonics, the University of Michigan and the patients that will benefit from this increased momentum behind the Edison System.”
“Two decades ago, the first invention report describing what we now call histotripsy was disclosed to our office. Today, it’s an FDA-cleared treatment for the destruction of liver tumors, with clinical trials underway for renal and pancreatic cancers. This milestone is a powerful example of how NIH-funded research, combined with entrepreneurial drive and strategic venture investment, can create transformational impact.”
Kelly Sexton, associate vice president for research – innovation partnerships and economic impact.
“When I first learned of Charles and Zhen and the team’s work on histotripsy and saw what their system could potentially do, I knew this could revolutionize surgery. It took a long time to get others to see this innovation in the same light as I did. We stuck with it, and I am ecstatic to see where the company is today and look forward to where it goes in the future.”
Jim Adox, chairman of HistoSonics’ board and a member of Innovation Partnership’s National Advisory Board
“One of the best parts about science is turning the impossible to possible. It has been the challenge and highlight of my lifetime to see our response to a simple question ‘Can we create a non-invasive interventional technology that performs surgery?’ evolve into a platform that is revolutionizing cancer treatment.”
“I am proud of what we have accomplished for patients so far, and with this acquisition I anticipate quickly expanding histotripsy to benefit patients with various tumor types and neurological diseases all over the world.”
Zhen Xu, a co-inventor of the treatment HistoSonics uses to kill liver tumors with focused ultrasound—called histotripsy
