Medtronic leads $100M investment in artery denervation company
Pulnovo Medical, a global medtech company focused on developing treatments for pulmonary hypertension and heart failure, has secured $100 million in financing from Medtronic and several other new and existing investors.
The new funds are expected to go toward clinical development, regulatory submissions, commercialization and continuing to fine-tune the company’s core technologies. This includes Pulnovo’s proprietary Pulmonary Artery Denervation System (PADN), which has been fully approved in several countries and received the FDA’s breakthrough device designation in the United States. PADN is a percutaneous procedure that delivers radiofrequency energy to sympathetic nerves in a patient’s pulmonary artery. Clinical trials have linked this technology with long-term hemodynamic and quality-of-life improvements for a wide variety of patients presenting with pulmonary hypertension. Additional research is now underway that could potentially clear the way for a full FDA approval.
“Through the integration of industry expertise and long-term capital, Pulnovo is building a scalable growth model anchored in proprietary innovation, global clinical development and strategic ecosystem partnerships,” Cynthia Chen, chairlady and president of Pulnovo Medical, said in a statement. “This financing marks a pivotal transition from a product-driven phase to a fully integrated global platform. As we continue to strengthen our capabilities across both clinical and technological fronts, we remain committed to delivering meaningful innovation to patients worldwide.”
Pulnovo and Medtronic also entered into a new commercial agreement focused on the future commercialization of the company’s technologies. The goal, according to Pulnovo, is to leverage the “commercial synergy” between these two companies as well as Medtronic’s “unique and extensive global commercialization capabilities.”
Other investors involved in this oversubscribed funding round include EQT, Qiming Venture Partners, Gaorong Ventures, OrbiMed, Lilly Asia Ventures and HSG (formerly Sequoia China).
Michael has more than 19 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.