U-M's HistoSonics hires 5, takes in $11M in financing

Wednesday, January 13, 2010 | Source: Concentrate
Hear that bang? That's Ann Arbor's newest tech biz -HistoSonics- breaking onto the scene. The University of Michigan spin-off launched last month with the help of $11 million in startup financing.

"We got the financing and that was the first day of business," says Chris Gibbons, president of HistoSonics.

Now the company is about to sign a lease on the west side of the city for its five employees. It plans to make at least one more hire this year and be up to 20 people within 2-3 years.

HistoSonics (histo meaning tissue and sonics meaning sound waves) is developing a medical device that uses tightly focused ultrasound pulses to treat prostate disease. The idea is to create a non-invasive, image-guided system that can destroy tissue with robotic precision.

A team from the U-M Department of Biomedical Engineering and the Department of Urology discovered the technology. That research team includes Charles Cain, Brian Fowlkes, Tim Hall, Zhen Xu and Dr. William Roberts.

Source: Chris Gibbons, president of HistoSonics
Writer: Jon Zemke
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Biotechnology, Higher Education, Medical Research, University Of Michigan, Venture Capital 

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