MPower Partners Fund II ("MPower"), a Japan-based global venture capital fund, has invested in HistoSonics, a Minneapolis-based medical technology company redefining cancer treatment through its breakthrough histotripsy platform — the world's first FDA-cleared system to non-invasively destroy tumors using focused ultrasound energy. MPower joins a distinguished group of strategic investors in this financing round, including Yosemite, whose mission is to make cancer non-lethal in our lifetime.

For decades, cancer treatment has forced a difficult trade-off: effective therapies that also carry a significant physical burden — surgery, radiation, and ablation techniques that damage healthy tissue, require lengthy recovery, and diminish quality of life. HistoSonics is charting a different course, pioneering a non-invasive approach that destroys tumors with precision while leaving surrounding structures intact, eliminating incisions, radiation, or heat, resulting in potentially fewer side effects. 

At the core of HistoSonics' platform is the Edison® Histotripsy System, which delivers precisely focused ultrasound energy through a robotic arm to mechanically destroy and liquefy targeted tumors at the cellular level. Received FDA De Novo clearance in 2023 for the non-invasive destruction of liver tumors. Edison is currently the only histotripsy system cleared for clinical use globally, and emerging clinical evidence suggests the mechanical destruction of tumor tissue may also activate the body's immune response, opening potential new dimensions for the therapy.

HistoSonics has achieved significant commercial momentum, with growing physician adoption across leading academic medical centers and health systems in the United States. The company recently submitted a De Novo request to the FDA for kidney tumor treatment and continues to generate encouraging clinical data in pancreatic tumors — advancing toward a broad platform addressing solid tumors throughout the body.

With its non-invasive profile, outpatient-compatible workflow, and expanding body of clinical evidence, HistoSonics is positioned to become the standard of care for patients who are not candidates for surgery or who seek alternatives to conventional interventional procedures — a population that is substantial and growing across global oncology markets, including Japan.

This investment is part of MPower Partners Fund II, which completed its first close in May 2025. HistoSonics' mission to expand patient access to breakthrough cancer care aligns directly with MPower's core investment themes of advancing human health through technology and Japan Dynamism — reflecting MPower's conviction that Japan, with its world-class oncology infrastructure and strong demand for patient-centered innovation, represents one of the most important markets for HistoSonics' global expansion.

Comment from Mike Blue, CEO, HistoSonics

“We are very excited to partner with MPower as we enter our next phase of growth, and at this point in our company’s journey, it is important that new partners offer more than just capital”, commented Mike Blue, Chairman and CEO, HistoSonics. “Japan represents one of the most important markets in our global expansion strategy — with its aging population and significant unmet need for non-invasive cancer care, and MPower's deep roots in the Japanese ecosystem and track record of supporting category-defining companies in the region make them an ideal partner as we continue expanding access to our breakthrough therapy across the globe.”

Comment from Yumiko Murakami, General Partner at MPower Partners

“HistoSonics represents exactly the kind of category-defining innovation that MPower was built to support — a technology that fundamentally reimagines what is possible for patients. Histotripsy’s non-invasive approach has the potential to transform cancer care in Japan, where an aging society and growing cancer burden are creating urgent demand for therapies that are both highly effective and gentle on patients. Japan’s world-class oncology centers are primed to embrace this breakthrough — and we look forward to leveraging MPower’s deep network to accelerate HistoSonics’ path into this critical market, and to serve as their bridge into Japan and across Asia.”

About HistoSonics

• CEO: Mike Blue

• Established: 2009

• Location: Ann Arbor, MI & Minneapolis, MN

• Corporate URL: https://histosonics.com/

About MPower Partners

MPower Partners is a Japan-based venture capital fund with a mission to empower visionary gamechangers and unlock transformative growth. With our diverse investment team and deep global networks, we identify and support high-potential ventures both in Japan and internationally. We go beyond capital investments by helping drive true and sustainable growth among our portfolio startups via our proprietary ESG framework. On a broader level, as bridge-builders and ecosystem shapers, we hope to leave the Japanese venture capital ecosystem better than we found it, one with more diversity and scale.

Fund website: https://www.mpower-partners.com

For inquiries, please contact: info@mpower-partners.com

This press release has been prepared for the purpose of providing information to qualified institutional investors and potential portfolio companies of the Fund, and is not a disclosure document pursuant to the Financial Instruments and Exchange Act, and does not constitute a solicitation or recommendation to purchase the Fund.