HistoSonics secures $102m in blockbuster funding to transform liver cancer treatment forever

HistoSonics, a trailblazer in non-invasive histotripsy technology, has successfully concluded an oversubscribed $102 million Series D financing round. The round was spearheaded by Alpha Wave Ventures, a leading growth-stage investment firm, with substantial contributions from new investors Amzak Health and HealthQuest Capital. Existing investors also included Johnson & Johnson Innovation – JJDC, Inc. (JJDC), Venture Investors, Lumira Ventures, Yonjin Venture, and the State of Wisconsin Investment Board, among others.

Transformative Histotripsy Technology

HistoSonics is at the forefront of developing the Edison Histotripsy System, which employs a groundbreaking approach using focused ultrasound to create a “bubble cloud” within targeted tissue, such as liver tumors. This novel technology generates high amplitude, ultra-short pulses that form and collapse bubbles in microseconds, generating mechanical forces powerful enough to destroy and liquefy tissue. This process, known as histotripsy, offers a non-invasive and non-thermal alternative to conventional treatments like surgery, radiation, and chemotherapy, which often come with significant side effects.

Histotripsy has emerged as a significant advancement in oncology. By avoiding invasive procedures, it minimizes patient recovery times and reduces risks associated with traditional cancer treatments. This technology is gaining traction in clinical settings, with studies demonstrating its potential effectiveness in treating a variety of solid tumors.

The Series D funding will facilitate the expansion of HistoSonics’ technology, including commercial growth in the US and targeted international markets. A key initiative supported by this investment is the BOOMBOX Master Study, a comprehensive clinical trial designed to evaluate the Edison Histotripsy System’s efficacy in treating liver tumors across various clinical environments. This study represents a pivotal step in establishing the system’s clinical benefits and potential for broader application.

Expert Insights and Company Vision

Mike Blue, President & CEO of HistoSonics, highlighted the transformative nature of histotripsy. “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,” he said. Blue emphasized that the investment from Alpha Wave Ventures validates HistoSonics’ mission to improve patient outcomes and explore expanded uses for other cancers, including kidney, pancreas, prostate, and brain tumors.

Alpha Wave Ventures’ Chris Dimitropoulos also underscored the significance of this investment. “Alpha Wave is proud to lead the investment in HistoSonics, a pioneer in the use of histotripsy,” Dimitropoulos remarked. He praised the technology for its non-invasive approach, which targets and destroys diseased tissue while preserving surrounding healthy tissue. Dimitropoulos noted that the widespread adoption of histotripsy by leading hospitals underscores the significant unmet medical need it addresses.

Technological Advancements and Future Outlook

The Edison Histotripsy System employs advanced imaging technology to deliver precise, real-time treatment. This system enables continuous monitoring and control of tissue destruction, providing a level of precision and safety unmatched by current medical technologies. The ability to visualize and adjust treatment in real time offers significant benefits in terms of treatment efficacy and patient safety.

HistoSonics, headquartered in Ann Arbor, Michigan, and Minneapolis, Minnesota, is focused on expanding its histotripsy technology for liver treatment while exploring applications in other organs such as the kidney, pancreas, prostate, and brain. The company is also actively engaging with leading institutions to develop multidisciplinary histotripsy programs, further advancing its technology and clinical applications.

This latest funding round represents a critical milestone for HistoSonics, positioning the company to accelerate the development and availability of its innovative therapy. The investment not only supports the expansion of current applications but also paves the way for future advancements in non-invasive tumor treatment.