HistoSonics has completed an oversubscribed $102m Series D funding round to scale the launch of the non-invasive histotripsy platform, Edison System.
The round was spearheaded by Alpha Wave Ventures, a growth-stage investment firm, with contributions from new investors Amzak Health and HealthQuest Capital.
Existing backers also participated, including Johnson & Johnson Innovation – JJDC, Venture Investors, Lumira Ventures, Yonjin Venture, the State of Wisconsin Investment Board and others.
Alpha Wave global healthcare investments managing director Chris Dimitropoulos said: “The level of adoption we’ve seen from leading hospital centres 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.”
The Series D funding will be allocated to accelerate advancements in HistoSonics’ non-invasive histotripsy platforms, bolster commercial expansion both in the US and internationally, and launch the BOOMBOX Master Study.
The study aims to evaluate the Edison System for treating liver tumours through multi-disciplinary approaches.
Edison Histotripsy System received US Food and Drug Administration (FDA) De Novo clearance in October 2023.
HistoSonics is also collaborating with US-based institutions and around the world to develop multi-disciplinary histotripsy liver programmes.
HistoSonics president and CEO Mike Blue said: “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 tumour 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.”
HistoSonics’ Edison System leverages proprietary technology and imaging to offer personalised, non-invasive histotripsy treatments with precision and control.
According to the medical device company, the technology offers benefits to patients, such as rapid recovery and resorption of the treatment site.
Additionally, the platform enables physicians to continuously monitor tissue destruction with real-time visualisation and control.
