Pulnovo Medical, which is developing minimally invasive treatments for pulmonary hypertension and heart failure, has raised almost US$100m to drive its growth.
The medtech firm’s flagship product is PADN (pulmonary artery denervation) technology; a minimally invasive treatment for pulmonary hypertension (PH)
PH is a condition that can lead to heart failure and mortality, with limited treatment options.
PADN uses radiofrequency ablation to target the pulmonary vascular endothelial sympathetic nerve, effectively reducing pulmonary artery pressure and slowing disease progression.
The technology received FDA Breakthrough Device designation for Group I, Group II, and Group IV PH in 2021.
It was also included in European Society of Cardiology and European Respiratory Society Guidelines in 2022.
In 2023, Pulnovo Medical achieved the Humanitarian Use Exemption Device designation for Group I PH.
The RF catheter and RF generator received market approval in China in late 2023, becoming a commercially available interventional device in the field globally.
Its funding round was co-led by Qiming Venture Partners and existing shareholder Lilly Asia Ventures, with existing investors OrbiMed and Gaorong Capital participating on a super pro-rata basis.
Cynthia Chen, executive chair and president of Pulnovo Medical, said the funds would support two upcoming FDA trials planned this year.
Spun out of the lab in 2013, the firm now has offices in the US, Singapore, Hong Kong and four cities in Chinese Mainland, including Beijing and Shanghai.
William Hu, managing partner of Qiming Venture Partners, said: “Pulnovo Medical’s breakthroughs in interventional treatments for PH and HF are impressive. The company’s PADN technology is now commercially available in Chinese Mainland, Hong Kong, and Macau, and in 2024, global multicenter trials were initiated in Portugal, Serbia, Georgia, and Southeast Asia.
“Following the FDA Breakthrough Device designation, the global clinical trials further validate the technology’s leadership and clinical value. As a long-term healthcare investor, Qiming is committed to supporting innovators with global visions. We are confident in Pulnovo Medical’s potential and will support its international expansion and commercialisation, bringing new hope to patients worldwide.”
