HistoSonics, an Ann Arbor, MI. and Minneapolis, MN.-based developer of a non-invasive robotic platform and sonic beam therapy, closed a $40m Series C-1 financing.
The round was led by Yonjin Venture, LLC, with participation from existing investors Varian Medical Systems, Inc., Johnson & Johnson Innovation – JJDC, Inc. (JJDC), Venture Investors, Lumira Ventures, State of Wisconsin Investment Board, and others.
The company intends to use the funds to accelerate activities focused on its Edison™ Platform, as well as launch new strategic projects.
Led by President and CEO Mike Blue, HistoSonics provides the Edison Platform, which uses advanced imaging and proprietary sensing technology to deliver non-invasive, personalized treatments with precision and control, and uses the science of histotripsy and focused sound energy to generate pressures to liquify and completely destroy targeted tissues at sub-cellular levels. As part of the financing, HistoSonics will add Mr. Wen Chen, Venture Partner at Yonjin Venture, to their Board of Directors. Prior to joining Yonjin, Mr. Chen held the positions of Senior Vice President, Head of Business Development and Operations at Tigermed, a publicly traded company located in China, Chief Operating Officer of HD Biosciences, and Executive Vice President of HUYA Bioscience International. Mr. Chen received his bachelor’s degree in Biochemistry from Purdue University, a master’s degree in Immunology and Oncology from Washington University in St. Louis, and a Master of Business Administration from Durham University.