HistoSonics, an Ann Arbor-based medical device company, has closed a $54 million Series C financing.
The round was led by Palo Alto, Calif.-based Varian Medical Systems Inc. Financing also included Johnson & Johnson Innovation, Lumira Ventures, Ann Arbor-based Venture Investors, the State of Wisconsin Investment Board and robotics pioneer Dr. Fred Moll, founder of Intuitive Surgical and former chairman and CEO at Auris Health.
HistoSonics plans to use the proceeds of the financing to complete regulatory and commercial milestones and expand development of its non-invasive platform designed to overcome limitations and side effects of current cancer therapies.
Robotically Assisted Sonic Therapy combines advanced robotics and imaging with proprietary sensing technology to deliver personalized treatments with both precision and control. It uses the science of histotripsy and focused sound energy to generate pressures strong enough to liquefy and completely destroy targeted tissues at sub-cellular levels, offering transformative change for both patients and physicians.
“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,” HistoSonics President and CEO Mike Blue said in a statement.
Histotripsy was developed at the University of Michigan and exclusively licensed to HistoSonics. The company is led by a team of experienced domain experts and industry leaders with offices in Ann Arbor and Minneapolis.
The company has raised $86.1 million to date, according to Crunchbase, including multiple rounds involving Venture Investors.