A Minnesota medical technology company that’s developing a non-invasive device to destroy cancerous tissue has raised $100 million.
Plymouth, Minnesota-based HistoSonics Inc. announced Tuesday that it raised $85 million of the funds in a convertible-note form of financing, in a post-Series C round led by Johnson & Johnson Innovation. The form of short-term debt will convert to equity in a Series D round, CEO and president Mike Blue said in an interview.
Existing investors also participated in the funding round, including Venture Investors, which has offices in Madison and Milwaukee; Lumira Ventures; Yonjin Venture; the State of Wisconsin Investment Board (SWIB) and others, the announcement said.
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