News Summary

Halifax-based medtech startup Sound Blade has successfully raised $23.8 million CAD in a Series A funding round to further develop its innovative ultrasound technology aimed at treating liver tumours non-invasively. The funding round was led by Montréal-based Lumira Ventures and Amzak Health from New York, with additional support from Invest Nova Scotia. Sound Blade’s technology, which uses a technique called histotripsy, utilizes ultrasound waves to precisely target and destroy cancerous and benign liver tumours while sparing surrounding healthy tissue. This method promises to reduce complications, blood loss, and recovery time compared to conventional surgery or radiation. The company plans to use the funds to expand its team and accelerate the development of its device, aiming for eventual clinical use. This investment comes amidst a challenging period for healthtech funding in Canada, with venture capital in the sector showing a significant decline. Lumira Ventures has previously invested in histotripsy technology, including its investment in Michigan-based HistoSonic.