With backing from Peter Thiel, K5 Global, Jeff Bezos, and Wellington Management, among others, HistoSonics is positioned to expand globally across new clinical applications
MINNEAPOLIS--BUSINESS WIRE--
HistoSonics, Inc., the developer of the Edison® Histotripsy System and novel histotripsy therapy platform, today announced the closing of an oversubscribed $250 million financing led by its new ownership group and included additional investors Thiel Bio and Founders Fund, among others. The financing will support the ongoing commercial expansion of HistoSonics’ Edison System into new global markets, accelerate new clinical indications throughout the body, and strengthen operational capacity for the next phase of growth.
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HistoSonics Non-Invasive Edison Histotripsy System Image credit: HistoSonics
This funding follows the recent $2.25 billion majority stake acquisition of HistoSonics by a consortium of international technology and life science investors, including K5 Global, Bezos Expeditions, and Wellington Management, who all participated in the new round that positions HistoSonics to advance its strategic priorities as a privately held company.
HistoSonics received its first FDA De Novo clearance in October 2023 and is pioneering a paradigm changing, non-invasive therapy, that uses histotripsy, a therapeutic focused ultrasound energy, to liquefy and destroy tumors and tissue under real-time image guidance, without the invasiveness or toxicity of traditional procedures. The Edison System is the first and only histotripsy platform cleared for clinical use globally.
“This funding, which was a shared priority of our new ownership group, enables us to accelerate key projects designed to expand global access to our platform and advance our therapy across an unprecedented number of new clinical applications and for the patients who need it most”, said HistoSonics’ Chairman and CEO, Mike Blue.
“Treatment decisions often force a trade-off between survival and suffering. HistoSonics shows that fundamental technological innovation can free us from such Faustian bargains,” said Hannes Holste of Thiel Bio. “Beyond the focus today on abdominal tumors, the opportunity is to reimagine how a non-invasive approach could move treatment for other diseases earlier, alleviate the anxiety of monitoring, and preserve quality of life.”
HistoSonics plans to expand beyond its initial focus on liver tumors to kidney, pancreas, and prostate indications, with the goal of establishing histotripsy as a treatment option across a wide range of clinical applications throughout the body, treating both benign and malignant conditions.
“Histotripsy has the potential to redefine how we treat solid tumors and other diseases by introducing a completely new modality of care,” said Bryan Baum of K5 Global. “HistoSonics’ Edison System combines breakthrough science, real-world clinical validation, and strong early commercial traction. We are proud to support and bolster the team as they accelerate adoption of this transformative technology.”
About HistoSonics
HistoSonics is a privately held medical device company developing a non-invasive platform and proprietary sonic beam therapy utilizing the science of histotripsy, a novel mechanism of action that uses focused ultrasound to mechanically destroy and liquefy unwanted tissue and tumors. The company is currently focused on commercializing their Edison System in the US and select global markets for liver treatment while expanding histotripsy applications into other organs like kidney, pancreas, prostate, and others. HistoSonics has offices in Ann Arbor, MI and Minneapolis, MN. For more information on the Edison Histotripsy System please visit: www.histosonics.com. For patient-related information please visit: www.myhistotripsy.com.
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