Pulnovo Medical, a globally recognized pioneer in the field of medical devices for pulmonary hypertension (pH) and heart failure (HF), has announced the conclusion of series-C financing of almost $ 100 million. This round was jointly directed by Qiming Venture Partners and the existing shareholder Lilly Asia Ventures, with the existing investors orbimed and Gaorong capital participated. The proceeds are used to promote the global clinical studies of Pulnovo Medical, the international business expansion and strategic initiatives.
The financing round was oversubscribed twice and represents one of the greatest capital procurement in the Asian-Pacific sector for innovative medical devices in recent years. This reflects the trust of the leading institutions in the global strategy and the technical skills of Pulnovo Medical.
Pulnovo Medical was founded in 2013 and is a groundbreaking medical technology company recognized in international guidelines. The company uses its extensive clinical expertise to promote scientific progress and global marketing. The company focuses on the development of superior therapeutic solutions for the different stages of HF to improve the results for patients.
The main product of Pulnovo Medical, the Padn (Pulmonary Artery Denervation) technology (denial of the pulmonary arteries), is an innovative and effective minimally invasive treatment for PH, which has successfully received market registration. PH is an illness that can lead to heart failure and mortality, with the treatment options limited. In the PADN, the pulmonary vascular endothelic sympathetic nerve is specifically attacked using radio frequency dilation, which effectively reduces the pressure in the lung artery and the progression of the disease is slowed down.
In 2021, PADN received the status of a groundbreaking device for PH of Groups I, II and IV PADN in 2021 in 2022 in the guidelines of the European Society for Cardiology and the European Society for Respiratory Diseases. In 2023, Pulnovo Medical received the exceptional permit for use on people for devices of the group I ph. The HF catheter and the HF generator will receive market registration in China at the end of 2023 and thus become an interventional intervention in this area. In 2024, Pulnovo Medical’s accessory product, the 9F protective cover, received the FDA approval.
Cynthia Chen, Chairman, Managing Director and President of Pulnovo Medical, announced that the proceeds of this round will support two FDA studies planned for this year for PH of Group I and PH of Group II (chronic heart failure in combination with PH). Under the leadership of the management team, the company developed from a laboratory to a globally structured company with branches in the USA, Singapore, Hong Kong Sar and in four cities on the Chinese mainland, including Beijing and Shanghai.
William Hu, Managing Partner von Qiming Venture Partners, said: “The breakthroughs of Pulnovo Medical in the interventional treatment of PH and HF are impressive. The company’s padn technology is now commercially available on the Chinese mainland, in Hong Kong and Macau and in 2024 global multicenter studies were launched in Portugal, Serbia, Georgia and Southeast Asia. After the FDA approval as a groundbreaking device, the global clinical studies confirm the leading role and the clinical value of technology. As a long -term investor in healthcare, Qiming strives to support innovative companies with global visions. We are convinced of the potential of Pulnovo Medical and will support the international expansion and commercialization of the company in order to give patients new hope worldwide. “
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