HistoSonics, the Minnesota medtech startup behind a novel treatment destroying harmful liver tumors with bubbles, has raised an additional $250 million and gained another high-profile backer.
Tech entrepreneur Peter Thiel and other investors have infused the Plymouth-based company with this additional capital, which brings HistoSonics’ total fundraising to more than $550 million, CEO Mike Blue said.
The company will use the funds to accelerate growth in more regions of the world and explore applications of its tumor-fighting technology in organs such as the brain, Blue said.
HistoSonics, Blue said in an interview, is experiencing “incredibly exciting growth.” In August, HistoSonics disclosed that Amazon founder Jeff Bezos and a group of high-profile investors paid $2.25 billion for a majority stake in the firm.
The company’s Edison systems use focused ultrasound to create micro bubbles that rapidly expand and collapse, liquefying tumors. In 2023, the company won “de novo” classification from the U.S. Food and Drug Administration, which allows for the commercialization of devices tending to be lower-risk and novel. The technology is used for the noninvasive destruction of liver tumors.
The company has focused on using the ultrasound technology on liver, kidney, pancreas and prostate tissue. With the new funds, Blue said HistoSonics will explore breast, thyroid, brain, bladder and uterine fibroid applications.
HistoSonics is enrolling patients in a pancreatic tumor clinical trial in Barcelona.
The company plans to submit results to the FDA in the first half of 2026 from a pivotal trial testing the technology on the kidney, Blue said. It will also enroll patients in a study testing the technology on the common prostate condition benign prostatic hyperplasia in the same period, he added.
