Alpha Wave Ventures led the round, while new investors Amzak Health and HealthQuest Capital participated. Johnson & Johnson Innovation – JJDC, Venture Investors, Lumira Ventures, Yonjin Venture, the State of Wisconsin Investment Board — all existing investors — joined, too.
Based outside Minneapolis, HistoSonics develops a histotripsy treatment for liver tumor procedures.
Edison, its image-guided therapy system, uses advanced imaging and proprietary sensing technology. It delivers non-invasive, personalized treatments with precision and control. Histotripsy, a novel form of focused ultrasound, uses high-amplitude, very short pulses to create a “bubble cloud.” That cloud mechanically destroys and liquefies targeted liver tumors. Histotripsy could offer an alternative to treatments like surgery, radiation and chemotherapy.
The system received FDA investigational device exemption in February 2023. A month later, HistoSonics announced the first kidney tumor treatment with its novel therapy system. Last fall, the FDA granted de novo authorization for the Edison system.
HistoSonics plans to use the funding to accelerate advancements to its non-invasive histotripsy platforms, support commercial growth in the U.S. and planned global markets and initiate the company’s BOOMBOX master study. The company plans for BOOMBOX to evaluate Edison in treating liver tumors across multidisciplinary users.
“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,” said Mike Blue, president & CEO, HistoSonics. 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.
The Star Tribune of Minneapolis reports that HistoSonics plans to double its headquarters space in Plymouth, Minnesota.
