Backed by investors including Peter Thiel, Jeff Bezos, and Wellington Management, the medical device company plans global expansion of its non-invasive histotripsy technology.
HistoSonics, Inc., a Minneapolis- and Ann Arbor-based medical device company, has announced an oversubscribed $250 million growth financing round, following its recent $2.25 billion majority stake acquisition by a consortium of investors.
The new funding, led by the company’s ownership group and joined by Thiel Bio, Founders Fund, Bezos Expeditions, K5 Global, and Wellington Management, will support HistoSonics’ global commercial expansion and development of new clinical applications for its Edison® Histotripsy System — a non-invasive therapeutic ultrasound platform that uses focused sound waves to destroy tumors and diseased tissue without surgery.
The financing aims to accelerate global market entry, expand indications beyond liver tumors to organs such as the kidney, pancreas, and prostate, and scale operational capacity. The company received its first FDA De Novo clearance in October 2023 and reports over 2,000 patients treated across 50 U.S. medical centers, with 50 more installations expected by the end of the year.
“HistoSonics’ Edison System combines breakthrough science, real-world clinical validation, and strong early commercial traction,” said Bryan Baum of K5 Global, one of the company’s investors.
HistoSonics remains privately held and will continue to operate under the leadership of Chairman and CEO Mike Blue, with offices in Minneapolis, Minnesota, and Ann Arbor, Michigan.
Read the full announcement on Business Wire here.
This article was created with the assistance of AI to summarize and curate local tech news.
