HistoSonics Secures $250M in Series D Funding, Accelerating Commercialization of Innovative Cancer Treatment Technology

HistoSonics, a pioneering developer of non-invasive cancer treatments, has successfully raised $250 million in an oversubscribed Series D financing round. This substantial investment comes just two months after a syndicate of investors acquired a majority stake in the company, valuing it at $2.5 billion. The latest funding injection is set to propel the commercial expansion of HistoSonics' groundbreaking Edison System, which utilizes advanced sonic beam technology to target and destroy tumors.

Investment Details and Strategic Backing

The Series D round saw participation from both new and existing investors, including K5 Global, Bezos Expeditions, Wellington Management, Thiel Bio, and Founders Fund. This diverse group of backers underscores the growing confidence in HistoSonics' innovative approach to cancer treatment.

Mike Blue, Chairman and CEO of HistoSonics, emphasized the significance of this funding, stating, "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."

Edison System: A Breakthrough in Non-Invasive Cancer Treatment

At the heart of HistoSonics' success is the Edison histotripsy system, which received FDA de novo clearance in 2023 for the non-invasive treatment of liver tumors and metastases. The technology employs sonic beams to create gas bubbles within targeted tissue, effectively breaking down and liquefying tumors while preserving critical structures such as blood vessels.

Recent clinical trial data has showcased the system's efficacy, with 90% of 47 patients demonstrating local tumor control one year after treatment. These patients, suffering from either primary hepatocellular carcinoma or metastatic liver cancers, represent a significant breakthrough in treatment outcomes.

Expanding Horizons and Market Penetration

HistoSonics is not resting on its laurels, with plans to expand the application of its technology beyond liver cancer. The company is actively pursuing treatments for kidney and pancreatic tumors, with prostate cancer and benign conditions also in its sights.

The Edison System has already made substantial inroads into the medical community, with over 2,000 patients receiving treatments across more than 50 U.S. centers. HistoSonics anticipates installing an additional 50 devices by the end of the year, further solidifying its market presence.

Prior to the recent majority stake acquisition, HistoSonics had been exploring the possibility of going public. The company's ambitious revenue projections of $100 million for the current year and $200 million for 2026 highlight its confidence in the rapid adoption and success of its innovative technology.

As HistoSonics continues to push the boundaries of non-invasive cancer treatment, this latest funding round positions the company to potentially revolutionize oncology care and improve outcomes for patients worldwide.