Mike Blue on HistoSonics' Non-Invasive Tumor Destruction Technology

Summary

HistoSonics was founded in 2010, commercializing histotripsy research that began in 2001 at the University of Michigan's ultrasound lab. The technology uses high-amplitude sound waves to mechanically break down and liquefy tissue, which the body then naturally absorbs — enabling non-invasive surgery with no cutting, no radiation, and fewer side effects than traditional approaches. The Edison platform, a surgical robot with a 42-inch touchscreen and robotic delivery arm, received FDA clearance for liver tumors (both primary liver cancer and metastatic tumors from other cancers, such as metastatic breast cancer). Many current patients are advanced-stage and previously deemed non-surgical candidates. Blue describes cases where patients who underwent histotripsy treatments became eligible for liver transplants — a curative outcome previously unavailable to them.

The company has raised over $500M in total, including a Series D in mid-2024 and a recent $250M equity infusion that came alongside finishing enrollment in a kidney tumor trial and beginning enrollment in a pancreatic tumor trial. The company had begun an IPO process (banker selection completed) before the private equity infusion. Blue argues histotripsy is the final step in surgery's evolution: from open surgery to laparoscopic to robotic to fully non-invasive. Long-term, he believes histotripsy will be the primary method for removing unwanted tissue from the body.