HistoSonics, an Ann Arbor, Michigan and Minneapolis, MN-based developer of a non-invasive, novel sonic beam therapy, raised $100M in equity and debt.
The $85M equity round was led by Johnson & Johnson Innovation with participation from Venture Investors, Lumira Ventures, Yonjin Venture, and the State of Wisconsin Investment Board. Concurrently, the company also secured a commitment for a $15M expansion of the amount available under its existing debt facility with Signature Bank. HistoSonics also announced today the appointment of Erica Rogers, President and CEO of Silk Road Medical, Inc., to the company’s Board of Directors.
The company intends to use the funds to support its anticipated commercial launch, additional clinical trials, and to expand application development of Edison, its novel histotripsy therapy platform, throughout the body.
Led by Mike Blue, President and CEO, HistoSonics is a medical device company developing a non-invasive platform and proprietary sonic beam therapy utilizing the science of histotripsy, a novel mechanism of action that uses focused ultrasound to mechanically destroy and liquify unwanted tissue and tumors at sub-cellular levels. The company is currently focused on the development of its Edison platform, combining advanced imaging with proprietary sensing technology to deliver personalized external beam treatments with precision and control, and with the promise of reducing many of the side effects of conventional therapies.
The Edison platform is not currently available for sale and is intended for use in the destruction of liver tissue.
FinSMEs
14/12/2022