HistoSonics has announced $40 Million in an oversubscribed Series C-1 funding. The funding round was led by the Yonjin Venture and other strategic investors as Varian Medical Systems, JJDC Venture Investors, Johnson & Johnson Innovation, State of Wisconsin Investment Board and Lumira Ventures.
The company uses the most advanced and cutting edge imaging technology for personalized treatments with unparalleled control and precision. The company has further added that it will appoint Mr. Chen to the company’s Board of Directors. Prior joining the company, Mr. Chen served the Tigermed as the Head of Business Development and Operations and Senior Vice President (SVP).
The newly appointed company’s member of Board of Directors, Mr. Chen, holds the BSc in Biochemistry from Purdue University, MBA from Durham University and Masters in Immunology and Oncology from Washington State University.
Venture Partner at Yonjin Venture, Mr. Wen Chen said on the occasion, “We believe that having the ability to precisely destroy targeted tissue without entering the body and without the use of radiation or thermal energy, will provide meaningful change to patients and the physicians who care for them.”
“We believe that histotripsy and the Edison Platform have the ability to provide meaningful clinical, quality of life, and economic benefits across a very broad range of applications, starting in the liver, and with far reaching implications, and we are excited to join HistoSonics on this journey,” added Mr. Wen Chen.
Chief Executive Officer and President of HistoSonics, Mike Blue said, “We are thrilled to welcome Wen and the team from Yonjin Venture,”
“Their deep experience and domain expertise in strategic markets, as well as passion for our mission and vision, were very important to us in a partner, and we look forward to working closely with their team moving forward to execute on our global plan,” Mike Blue concluded.