HistoSonics expands to 10 staffers, adds former FDA commissioner to board

Wednesday, December 1, 2010 | Source: Concentrate

HistoSonics is rounding out its staff and board of directors as the Ann Arbor-based startup begins to head toward clinical trials.

The 1-year-old U-M spin-off is developing a medical device that uses tightly focused ultrasound pulses to treat prostate disease in a non-invasive manner with robotic precision. HistoSonics (histo meaning tissue and sonics meaning sound waves) landed $11 million in venture capital last year and has used it to build up its staff from five to 10 people and add a sixth board member, Dr. Andrew von Eschenbach, former commissioner of the FDA, that will help lead the firm through clinical trials.

"We'll be shifting into clinical trial phase late next year," says Christine Gibbons, president & COO of HistoSonics.

HistoSonics has also spent the last year hitting key product development milestones. Gibbons expects her team to finish up product development over the next few months and begin the company's first pilot study in the summer. The company will probably add a handful of independent contractors at that time.

More hires should be made as clinical trials progress, with commercialization of the product by 2014. The company's $11 million in seed capital is also expected to take product development well into the clinical trial phase.

Source: Christine Gibbons, president & COO of HistoSonics
Writer: Jon Zemke

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