Minneapolis — HistoSonics has closed a financing round that values the medical technology company at $3.75 billion and will support additional clinical applications of its noninvasive histotripsy platform.
The round included participation from Reed Jobs and Yosemite, along with several other strategic investors. Additional financial terms were not disclosed.
HistoSonics developed the Edison Histotripsy System, which uses focused ultrasound energy and acoustic cavitation to mechanically destroy targeted tissue without surgery or radiation.
“Building a generational company requires partners who bring more than capital,” commented Mike Blue, Chairman & CEO, HistoSonics. “This financing continues to add strategic investors who understand our mission, appreciate the magnitude of the opportunity ahead, and share our commitment to delivering lasting value for patients, physicians, and shareholders.”
The company has expanded commercial and clinical use of histotripsy for liver tumors, including metastatic disease, at academic medical centers and health systems in the United States and other countries.
HistoSonics recently submitted a De Novo request to the U.S. Food and Drug Administration seeking clearance to use the technology for the destruction of kidney tumors.
The company is also evaluating the platform for primary pancreatic tumors and expects to pursue an FDA submission for pancreatic applications as its clinical and technical programs progress.
“Yosemite’s mission is to help accelerate technologies that have the potential to meaningfully change outcomes for patients,” said Reed Jobs. “And for me it’s a personal mission. HistoSonics is pioneering an entirely new approach to addressing some of the world’s deadliest cancers and diseases, and we are excited to support the company as it expands the reach of histotripsy throughout the entire body.”
The Edison system has received FDA De Novo clearance for the destruction of liver tumors. Applications outside the liver remain limited to investigational use.
HistoSonics said the financing will support commercial expansion, clinical development, regulatory initiatives and the advancement of additional applications for its technology.
