What You Should Know:
– HistoSonics, a medical technology company specializing in histotripsy, a non-invasive treatment for liver tumors raises $102M in Series D financing round.
– Led by Alpha Wave Ventures, with participation from new investors Amzak Health and HealthQuest Capital, and existing investors including Johnson & Johnson Innovation – JJDC, Inc., Venture Investors, Lumira Ventures, Yonjin Venture, and the State of Wisconsin Investment Board, the funding will accelerate the company’s commercial growth and technological advancements.
Histotripsy: New Standard of Care for Liver Tumor Treatment
HistoSonics’ Edison Histotripsy System utilizes focused ultrasound to destroy liver tumors without the need for invasive procedures like surgery, radiation, or chemotherapy. The company’s proprietary technology offers a promising alternative with minimal side effects. The newly acquired funding will be used to expand commercial operations, initiate the BOOMBOX Master Study, and further develop histotripsy platforms.
BOOMBOX Master Study
The BOOMBOX Master Study is a pivotal step in advancing histotripsy treatment. This multi-center clinical trial will evaluate the Edison System’s effectiveness in treating liver tumors across various patient populations and clinical settings. By gathering comprehensive data, HistoSonics aims to solidify the technology’s position as a leading treatment option for liver cancer.
Expansion Plans
The newly acquired funding will be used to:
- Advance histotripsy technology and develop new platforms
- Expand commercial operations in the United States and global markets
- Initiate the BOOMBOX Master Study to evaluate the Edison System in a multidisciplinary setting
Recent FDA Clearance
The company’s FDA De Novo clearance for the Edison Histotripsy System in October 2023 marked a significant milestone. HistoSonics is actively collaborating with leading institutions worldwide to establish multidisciplinary histotripsy liver programs.
“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,” said Mike Blue, President & CEO, HistoSonics. “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.”
