Varian leads $54m Series C for HistoSonics

HistoSonics said today that it closed a $54 million Series C round led by Varian Medical (NYSE:VAR) that included a contribution from Johnson & Johnson (NYSE:JNJ). The Ann Arbor, Mich.-based company, which is developing an image-guided, robotically assisted platform using non-invasive and non-thermal technologies, said Lumira Ventures, Venture Investors, the State of Wisconsin Investment Board and existing backers also participated – including robot-assisted surgery pioneer Dr. Fred Moll. HistoSonics said it plans to use the proceeds to complete “key regulatory and commercial milestones” and expand its development efforts. “We are very excited to be adding this group of experienced investment partners who share in our vision and mission,” president & CEO Mike Blue said in prepared remarks. “[Robotically assisted sonic therapy] will offer transformative change for both patients and physicians and will help overcome many of the major limitations and side effects of today’s cancer therapies. 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. We are confident that RAST will provide an entirely new experience for patients and physicians, as well as a more cost-effective alternative that better aligns with value-based healthcare initiatives, and we are thrilled to have such a st...
Source: Mass Device - Category: Medical Devices Authors: Tags: Featured Funding Roundup Robotics Wall Street Beat HistoSonics Inc. johnsonandjohnson Varian Medical Systems Source Type: news