Michigan medical device maker HistoSonics is creeping toward the close of a $14.22 million funding round in support of its non-invasive tissue ablation technology.
The company has raised about $14.17 million so far from 13 unnamed investors, through sales of equity, options, warrants and other rights to acquire securities, according to an SEC filing dated May 16.
HistoSonics was born in 2009 with assets exclusively licensed from the University of Michigan and investor financing in support of its so-called "histotripsy" technology. The company hopes to apply the tech initially for use in non-invasive, image-guided benign prostate hyperplasia treatment.
"HistoSonics mission is to be the technology and market leader in non-invasive surgery," according to the company’s website. "HistoSonics histotripsy platform technology will replace traditional surgical and minimally invasive modalities with non-invasive histotripsy procedures that will reduce patient trauma and healthcare costs significantly."
The company’s Vortx Rx device applies high-intensity acoustic energy to destroy targeted tissue without harming nearby areas. The device is available only for investigational use in the U.S. and Canada.
HistoSonics treated its 1st patient in at the University of Michigan in December 2013.