Pulnovo Medical has closed an oversubscribed $100 million financing round led by Medtronic, with existing and new investors including HSG, to advance its Pulmonary Artery Denervation system for pulmonary hypertension and heart failure.
Pulnovo Medical has completed an oversubscribed $100 million strategic financing round, led by Medtronic with continued participation from EQT, Qiming Venture Partners, Gaorong Ventures, OrbiMed, and Lilly Asia Ventures, alongside new investor HSG (formerly Sequoia China), according to official disclosures. Separately, both companies have entered a commercial agreement to explore future commercialization opportunities leveraging Medtronic’s global reach.
This development matters because Pulnovo’s proprietary Pulmonary Artery Denervation (PADN) system addresses a mechanical pathway in cardiopulmonary disease, with approximately 1,500 procedures performed globally and regulatory approvals in seven countries. The company has secured FDA Breakthrough Device designation and initiated two IDE trials in the U.S., led by Mount Sinai’s Dr. Gregg Stone. Industries impacted include medical devices, interventional cardiology, and pulmonary hypertension therapeutics. Stakeholders include hospital interventional suites, cardiovascular specialists, and patients with treatment-resistant pulmonary hypertension.
For investors, Medtronic’s lead investment and the commercial agreement signals potential acquisition or deep partnership trajectory, reducing go-to-market risk for Pulnovo. Proceeds will fund clinical development, global regulatory submissions, and international commercialization. Andre Xiao has joined as Chief Strategy Officer, bringing healthcare investment experience from Citadel and Millennium Management.
Pulnovo Medical is a China-based medical device company pioneering interventional therapies for pulmonary hypertension and heart failure.
Medtronic plc is an Irish-domiciled global medical technology leader headquartered in Minneapolis, Minnesota.
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