HistoSonics Secures $250M in Series D Funding, Accelerating Expansion of Innovative Cancer Treatment Platform

HistoSonics, a leading 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 fuel the commercial expansion of HistoSonics' groundbreaking Edison System, which utilizes advanced sonic beam technology to target and destroy tumors.

Innovative Technology Drives Investor Interest

HistoSonics' Edison System employs a novel approach called histotripsy, which uses focused sonic beams to create gas bubbles within targeted tissue. These bubbles rapidly expand and collapse, effectively liquefying tumors while preserving surrounding healthy structures, including blood vessels. This non-invasive technique has shown promising results in treating liver tumors and metastases, garnering FDA de novo clearance in 2023.

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

Clinical Success and Expansion Plans

Recent clinical trial data has bolstered confidence in the Edison System's efficacy. In a study involving 47 patients with primary hepatocellular carcinoma or liver metastases from other cancers, 90% demonstrated local tumor control one year post-treatment. This impressive outcome has paved the way for HistoSonics to broaden its focus to include kidney and pancreatic tumors, with plans to address prostate cancer and benign conditions in the future.

The company reports that over 2,000 patients have already received Edison treatments across more than 50 U.S. centers. HistoSonics aims to install an additional 50 devices by the end of the year, significantly expanding patient access to this innovative therapy.

Financial Outlook and Industry Impact

Prior to the recent majority stake acquisition, HistoSonics had reportedly been considering an initial public offering. The company projected revenues of $100 million for the current year, with expectations to double that figure to $200 million by 2026. The substantial Series D funding, backed by notable investors including K5 Global, Bezos Expeditions, Wellington Management, Thiel Bio, and Founders Fund, underscores the industry's confidence in HistoSonics' technology and growth potential.

As HistoSonics continues to advance its platform and expand into new therapeutic areas, the company is poised to make a significant impact on the landscape of cancer treatment, offering patients a non-invasive alternative with promising outcomes.