Plymouth-based medical technology manufacturer HistoSonics announced it has raised $102 million in Series D financing, surpassing its goal.

The fourth round was led by New York City-based Alpha Wave Ventures, according to a news release issued Thursday. With the latest round of funding secured, the company has raised more than $300 million in total, said HistoSonics CEO Mike Blue in an interview with TCB. Almost all of that came from funding rounds in the last five years, he noted.

The funding will be used to continue trials on HistoSonics’ Edison Histotripsy System for eliminating tumors throughout the body, both benign and malignant. The FDA approved the technology for commercialization to be used on liver tumors in October of last year, but because this is a completely new technology, it needs individual approval for each organ, Blue said.

Histotripsy is a novel kind of ultrasound that uses high amplitude, brief pulses to create a “bubble cloud” that can destroy and liquefy targeted tumors. The non-invasive treatment is an alternative to surgery, radiation, and chemotherapy. In the future, Blue hopes it could be used throughout the body.

The Edison Histotripsy System can be moved from department to department within hospitals and does not need infrastructure built like radiation therapy, Blue said.

“This groundbreaking technology has the potential to transform the treatment landscape for a variety of challenging clinical conditions, offering patients improved outcomes and recovery times. The level of adoption we’ve seen from leading hospital centers across the country and overseas highlights the huge unmet medical need,” said Chris Dimitropoulos, managing director, health care investments at Alpha Wave Global in the news release. Dimitropoulos will join HistoSonics’ Board of Directors.

The company is in a “limited launch” stage, Blue said, with about 20 centers launched already and an additional 20 set to come online by the end of 2024. HistoSonics has received orders from hospitals in the United States as well as internationally, in markets like the United Arab Emirates and Hong Kong.

“We’re delighted that demand, both for the systems as well as how often it’s being used today, is far exceeding our expectations,” Blue said.

The funding will also go toward continuing to expand its Plymouth headquarters facilities, where about 100 of its 170-or-so employees are based, Blue said. HistoSonics recently moved into a new facility in Ann Arbor, Michigan, an advanced research center in collaboration with the University of Michigan. Around 40 of the company’s employees are in Michigan.

Meanwhile, HistoSonics has plans to launch “Boombox,” a post-market, eight-year clinical program for liver tumors enrolling thousands of patients. The study will look at a variety of use cases and determine good qualities for the treatment, Blue said. Some of the funding from this round will go toward collecting and publishing that data.