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Sound Blade Medical, a medical device company that develops handheld ultrasound-guided histotripsy technology, announced it raised $16.5 million in Series A funding.
The round was coled by Amzak Health and Lumira Ventures, with participation from Invest Nova Scotia.
WHAT IT DOES
Sound Blade Medical develops handheld histotripsy technology, a noninvasive, non-ionizing and non-thermal ablation technology that is guided by real-time imaging that uses focused ultrasound delivered from outside the body to mechanically destroy targeted tissue.
In a statement, the company said the technology works by inducing cavitation bubbles in the tissue at the ultrasound beam focus by using short and high-pressure pulses. When the bubbles collapse, only liquified tissue remains.
According to Sound Blade, due to the non-thermal nature of the technology, it may permit better immune and healing responses and avoid the dangers that are associated with heating.
Additionally, in contrast to open surgery, histotripsy may allow for improved patient outcomes, such as less blood loss, fewer complications, reduced recovery time and lower chance of infection.
The company will use the funds to increase the development and clinical authentication of its technology with the aim of bringing precision ultrasound therapy to a broad range of patient conditions.
"We're thrilled to have the support of such forward-thinking investors who share our vision for the future of Sound Blade and our technology," Jeremy Brown, cofounder and CEO of Sound Blade, said in a statement.
"This funding enables us to rapidly advance our technology, expand our team and accelerate regulatory approvals to quickly bring our therapy to patients in need."
MARKET SNAPSHOT
Other companies in the ultrasound space include Grey Matter Neurosciences which earlier this month secured $14 million in seed financing to be used to develop an ultrasound headset for individuals with Alzheimer's disease and test that device in clinical trials.
The financing was led by the Wittington Innovation Fund, with participation from Toronto Innovation Acceleration Partners, Ontario Brain Institute and Ontario's Life Sciences Innovation Fund.
In 2024, Clarius Mobile Health announced a partnership with AI ultrasound organization ThinkSono for a new application called ThinkSono Guidance, an AI-enabled application available in Europe that pairs with Clarius scanners to improve deep vein thrombosis (DVT) detection.
Clarius handheld wireless AI-powered ultrasound scanners connect to smartphones and deliver high-resolution ultrasound images to clinicians.
In March of last year, Novosound secured a patent for its ultrasound instrumentation system, the Slanj digital platform, which is targeted at the medical and wearable-device market.
Novosound manufactures a wearable, WiFi-enabled ultrasound device that uses gel-free, high-resolution sensors to solve issues associated with traditional ultrasound technology. The patent gives Novosound exclusive rights to sell its wireless, wearable technology platform in the United States and the United Kingdom.
That same month, digital ultrasound company Butterfly Network achieved EU MDR certification for its Butterfly IQ+ ultrasound system. That allowed the company to release its offerings into the European market, including its AI-enabled software Auto B-Line Counter and its Pulse Wave Doppler (PWD).
Auto B line Counter uses AI to help providers determine patient abnormalities by measuring B-lines. B-lines appear as bright lines on an ultrasound and are associated with conditions such as chronic obstructive pulmonary disease (COPD).
Pulsed Wave Doppler, which received FDA clearance in 2023 is a mode that providers can use to graphically display blood flow velocity measurements over a set span of time.