BREAKING: K5 Global, Bezos, & Wellington Acquire HistoSonics at $2.25B Valuation
Destroying Tumors
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HistoSonics Hits $2.25B Valuation in Management-Led Majority Stake Acquisition
HistoSonics, the company behind the Edison® Histotripsy System, has announced a majority stake acquisition by a syndicate of high-profile investors, valuing the company at $2.25 billion. The deal, led by K5 Global and supported by Bezos Expeditions, Wellington Management, and others, marks a pivotal inflection point for the company as it scales its novel, noninvasive tumor treatment platform into new disease areas and global markets.
Founded in 2009, HistoSonics received FDA De Novo clearance in October 2023 for treating primary and metastatic liver tumors. Since then, the company has gained significant clinical and commercial traction, leading to the acquisition of roughly two-thirds of the business by the global investor group.
A Syndicate Betting on Category Leadership
The new investment round follows HistoSonics’ $102M Series D financing last year, which valued the company at around $600 million. This latest transaction represents a significant step up, reflecting market conviction in the company’s commercial trajectory and platform potential.
“What stood out with HistoSonics wasn’t just the technology, it was the speed and clarity with which the team turned a breakthrough into real clinical traction,” said Bryan Baum, Co-Founder and Managing Partner, K5 Global.
“Hospitals are continuing to order systems, patient demand is surging, and the clinical results speak for themselves. We partnered with HistoSonics because this is one of those rare moments where the science, the execution, and the opportunity all align, and we are here to ensure it reaches every hospital in the world.”
Eyes on K5 Global
Run by Michael Kives & Bryan Baum, K5 Global might be one of the most connected venture firms you’ve never heard of..
Founded in 2018, K5 has made 240 investments, with 14 exits, including companies like SpaceX, xAI, Anduril, Neuralink, Coinbase, 818 Tequila, Decagon, Flexport, Function, Khloud, Rainmaker, ServiceTitan, The Boring Company, Uber, & more.
Kives and Baum are two of the most deeply connected yet under-the-radar investors bridging Silicon Valley, Wall Street, & Hollywood. Kives, a former CAA talent agent, is known for his close relationships with figures like Jeff Bezos, Elon Musk, and just about every power player across entertainment & finance. Kives currently serves on the boards of Yahoo and 818 Tequila. Baum is a repeat founder with exits to Lyft and CustomInk and has personally invested in over 200 companies including Uber, Airbnb, Slack, & Flexport. Kives is rumored to be one of the best fundraisers out there.
Together, the duo has built K5 Global into a magnet for top-tier deal flow and strategic capital, advising and investing in some of the most consequential companies of the last decade.
“We’re happy to pay this price now,” Baum said to WSJ. “In a year, this is going to look like we stole this.”
This investment is a huge bet to be leading. We’ll be watching closely..
Strategic Investment from Leading Global Firms
The syndicate includes marquee names such as K5 Global, Bezos Expeditions, Wellington Management, and a range of new and returning investors. The investment reflects growing conviction in HistoSonics’ ability to revolutionize tumor treatment through its histotripsy platform, which mechanically destroys and liquifies targeted tissue using focused ultrasound.. without surgery, radiation, or toxicity.
Additional participants in the transaction include Alpha JWC Ventures, Alpha Wave Ventures, Venture Investors Health Fund, Lumira Ventures, HealthQuest Capital, and JJDC (Johnson & Johnson’s venture arm), among others.
HistoSonics will continue to be led by President and Chief Executive Officer, Mike Blue, and the executive team will continue to drive commercialization of the Edison System and expansion into new markets and indications.
“Our relentless focus as a company has been speed, scale, and the urgency to offer patients a better option than any they have today,” said Mr. Blue.
“This new group of partners backs category-defining companies that transform entire industries. Their support gives us the firepower to accelerate our momentum, expand into new clinical indications, and reach even more patients around the world who urgently need our breakthrough therapy.”
Transforming Surgery With Sound: Histotripsy’s Expanding Potential
HistoSonics’ technology, called histotripsy, uses focused ultrasound to mechanically destroy and liquify tumors without incisions, radiation, or chemotherapy. Physicians direct the therapy to precise locations, and a robotic arm automates delivery, ensuring consistent treatment. The system has already treated over 2,000 patients across 100+ hospital systems, with another 50 installations expected by year-end.
Histotripsy is currently approved to treat liver tumors, but clinical trials are underway for kidney and pancreas cancers, with FDA clearance for kidney tumors targeted in late 2026. The company ultimately aims to address a broad spectrum of solid tumors, as well as non-cancerous conditions like enlarged prostates and uterine fibroids.
Clinical Efficacy and Safety
Recent data is reinforcing confidence in the platform. In a study of 47 liver cancer patients, histotripsy successfully eliminated targeted lesions 90% of the time over 12 months, while also meeting key safety benchmarks. While HistoSonics is still evaluating long-term survival impact, a multi-year study is now underway to assess outcomes including quality of life, integration with other therapies, and overall survival.
Side effects are typically minimal, occasionally including flu-like symptoms as cancer cells release antigens during destruction, a sign the immune system is responding.
About HistoSonics
HistoSonics is a privately held medical device company headquartered in Ann Arbor, MI and Minneapolis, MN. The company is commercializing the Edison System in the U.S. and select international markets, with a focus on treating liver tumors and expanding into kidney, pancreas, prostate, and additional indications.