HistoSonics has secured $102m in an oversubscribed Series D financing round to advance its non-invasive histotripsy platforms and support commercial growth.
The round, which was led by Alpha Wave Ventures, is expected to help the company advance its histotripsy technology, aimed at treating liver tumours.
The funding will also support the company's commercial expansion in the US and planned international markets, as well as the initiation of the BOOMBOX Master Study.
This study aims to evaluate the efficacy of HistoSonics’ Edison System in treating liver tumours.
The Edison histotripsy system, which received the US Food and Drug Administration (FDA) De Novo clearance in October 2023, features proprietary technology and advanced imaging to deliver personalised, non-invasive histotripsy treatments.
HistoSonics is collaborating with institutions in the US and internationally to develop multidisciplinary histotripsy liver programmes.
HistoSonics president and CEO Mike Blue said: “Histotripsy is a paradigm-changing treatment option for patients who want a non-invasive approach to target and destroy tumours without the need for needles or incisions.
“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 company's platform provides physicians with the capability to monitor tissue destruction in real-time, offering a level of visualisation and control not available with any existing modality.
Alpha Wave Global Healthcare Investments managing director Chris Dimitropoulos said: “Histotripsy’s unique non-invasive approach uses focused ultrasound to precisely target and destroy diseased tissue without damaging surrounding healthy tissue.
“This ground-breaking technology has the potential to transform the treatment landscape for a variety of challenging clinical conditions, offering patients improved outcomes and recovery times. The level of adoption we have seen from leading hospital centres across the country and overseas highlights the huge unmet medical need.”
