HistoSonics Raises New Financing Round at $3.75 Billion Valuation to Advance Edison Histotripsy System
HistoSonics, the developer of the Edison Histotripsy System, has announced the closing of a new financing round that values the company at $3.75 billion. The round includes participation from Reed Jobs and Yosemite, a firm focused on accelerating technologies to make cancer non-lethal, alongside several other strategic investors. The company did not disclose additional terms of the financing.
The funding comes as HistoSonics continues to expand clinical adoption of its non-invasive histotripsy platform for liver tumors and advances research into additional applications across other solid tumors. Over the past year, the company has seen growing physician adoption and increased utilization of its technology at leading academic medical centers and health systems.
Histotripsy is a non-invasive therapeutic platform that uses focused ultrasound energy and acoustic cavitation to mechanically destroy targeted tissue without surgery or radiation. The Edison System received U.S. FDA De Novo clearance for the destruction of liver tumors and has since seen expanding clinical adoption both domestically and internationally. Use of the system outside of liver applications remains investigational.
The company recently submitted a De Novo request to the FDA seeking clearance for the destruction of kidney tumors, which would represent a significant expansion of the platform’s addressable market. Additionally, HistoSonics is generating clinical experience in the treatment of primary pancreatic tumors and advancing toward an anticipated FDA submission for pancreatic applications as it continues to achieve clinical and technical milestones.
“Building a generational company requires partners who bring more than capital,” said Mike Blue, Chairman and CEO of 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.”
Reed Jobs noted that Yosemite’s mission is to help accelerate technologies that can meaningfully change patient outcomes, calling it a personal mission. He expressed excitement about supporting HistoSonics as it expands the reach of histotripsy throughout the body. Proceeds from the financing will support commercial expansion, clinical development programs, regulatory initiatives, and further advancement of the company’s pipeline applications.
