HistoSonics raises growth equity at $3.75B valuation, backed by Reed Jobs' Yosemite
What's the deal? HistoSonics, the medical device maker behind the Edison Histotripsy System, has closed a growth equity round that values it at $3.75 billion.
Backers include Reed JobsDealroom has a profile for this one. Try Dealroom → and his firm YosemiteDealroom has a profile for this one. Try Dealroom →, whose stated aim is to "make cancer non-lethal in our lifetime," alongside several new strategic investors. Other terms were not disclosed.
Why now? The raise follows a year of accelerating clinical adoption for histotripsy, a non-invasive therapy that uses focused ultrasound to destroy tumours without surgery or radiation.
The Edison System already holds US Food and Drug Administration clearance for liver tumours. HistoSonics recently filed for clearance to treat kidney tumours and is advancing toward a submission for pancreatic applications.
"Building a generational company requires partners who bring more than capital," said chairman and chief executive officer Mike Blue.
What could go wrong? Use of the system outside the liver remains limited to investigational use, so much of the growth thesis hinges on regulatory approvals that have yet to land.
Pancreatic and kidney programmes still need to clear FDA review, and adoption beyond early academic centres is unproven.
The signal: Reed Jobs, son of Apple co-founder Steve Jobs, has steered Yosemite toward technologies that promise to "make cancer non-lethal in our lifetime," and backing a late-stage device maker already cleared by the Food and Drug Administration marks a shift from his earlier bets on younger biotech. The $3.75 billion valuation reflects investor conviction that non-invasive histotripsy can scale beyond liver tumours into kidney and pancreatic applications, where surgical and radiation options remain limited.
Read more: Business Wire
