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

HistoSonics, a pioneering developer of cancer treatment technology, 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 funding will primarily support the commercial expansion of HistoSonics' innovative Edison System, a non-invasive tumor treatment platform.

Investment Details and Strategic Implications

The latest funding round saw participation from notable investors, including K5 Global, Bezos Expeditions, Wellington Management, Thiel Bio, and Founders Fund. This diverse group of backers underscores the growing confidence in HistoSonics' technology and market potential.

Mike Blue, Chairman and CEO of HistoSonics, emphasized the strategic importance 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: Revolutionizing Cancer Treatment

At the heart of HistoSonics' success is the Edison System, which utilizes a groundbreaking approach called histotripsy. This technology employs sonic beams to create gas bubbles within tumors, effectively breaking them down and liquefying the tissue while preserving critical structures such as blood vessels.

The Edison histotripsy system received FDA de novo clearance in 2023 for the non-invasive treatment of liver tumors and metastases. Recent clinical trial data has shown promising results, with 90% of 47 patients demonstrating local tumor control one year after treatment. These patients included those with primary hepatocellular carcinoma and metastatic cancers that had spread to the liver.

Expanding Treatment Applications and Market Reach

HistoSonics is not resting on its laurels with liver cancer treatment alone. The company is actively focusing on expanding its technology to address kidney and pancreatic tumors, with plans to tackle prostate cancer and benign conditions in the future.

The Edison System has already made significant inroads in 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 considering going public, with projected revenues of $100 million for the current year and $200 million in 2026. The substantial Series D funding and growing investor interest suggest that the company is well-positioned to meet or exceed these ambitious financial targets.