The developer of a non-invasive, autonomous robotic platform, HistoSonics has secured a USD54 million in Series C round for its robotically-assisted platform that the company says it utilizes sound energy to liquify and obliterate cancerous tumors without affecting the surrounding tissue. The funding round was led by Varian Medical, along with participation from Johnson & Johnson. Lumira Ventures, Venture Investors, the State of Wisconsin Investment Board and existing investors, robot-assisted surgery pioneer Dr. Fred Moll. According to the company’s statement, it plans to utilize the proceeds to complete key regulatory and commercial milestones, as well as expand its development efforts.
Seated in Ann Arbor, MI, HistoSonics was developed to advance the development of histotripsy, a revolutionary science discovered and developed by leading scientists at the University of Michigan to offer advanced therapies for patients. Named as Robotically Assisted Sonic Therapy (RAST), the histotripsy technology consists of robotics, imaging and sensor technology to make use of microscopic air bubbles that naturally exist in tissue. In a statement, HistoSonics President and CEO Mike Blue stated that we are very excited to be adding this group of experienced investment partners who share in our vision and mission. He further noted that RAST will offer transformative change for both patients and physicians and will help overcome many of the major limitations and side effects of today’s cancer therapies. It has also shown great promise to work synergistically with other therapies and platforms, such as drug and immunotherapy, a big focus of our preclinical work, as well as with other surgical robotic platforms.
Moreover, Blue added that we are confident that RAST will provide an entirely new experience for patients and physicians, as well as a more cost-effective alternative that better aligns with value-based healthcare initiatives, and we are thrilled to have such a strong syndicate joining us on this journey.