#Shanghai #USA #Heart Failure #Pulnovo Medical #PADN Technology

Pulnovo Medical Achieves Major Funding Milestone

Pulnovo Medical, a recognized leader in the development of medical devices for pulmonary hypertension and heart failure, has successfully completed a Series C funding round, raising close to $100 million. This significant capital infusion marks a major milestone for the company, bolstering its initiatives in clinical trials and international expansion.

Funding Details

The funding round was co-led by Qiming Venture Partners alongside existing shareholder Lilly Asia Ventures. Other key investors such as OrbiMed and Gaorong Capital also participated, highlighting strong investor confidence in Pulnovo Medical’s strategic direction and technological capabilities. Notably, the round was oversubscribed, indicating substantial interest from investors in innovative medical technologies within the Asia-Pacific region.

Use of Funds

The capital raised will primarily be directed towards advancing Pulnovo Medical’s global clinical trials and supporting strategic international initiatives. One of the key focuses will be funding two anticipated FDA trials this year targeting Group I and Group II pulmonary hypertension, conditions closely associated with chronic heart failure.

Company Overview

Founded in 2013, Pulnovo Medical has made a name for itself by developing advanced medical technologies that adhere to international guidelines. The company leverages its extensive clinical expertise to create and commercialize innovative solutions aimed at improving patient outcomes, particularly for those suffering from various stages of heart failure.

The PADN Technology

Pulnovo Medical’s flagship product, the PADN (Pulmonary Artery Denervation) technology, is an innovative and minimally invasive treatment designed for pulmonary hypertension. This condition is particularly dangerous, often leading to heart failure and significantly increasing mortality rates, yet it has had limited treatment options traditionally available.

Utilizing radiofrequency ablation, PADN effectively targets the sympathetic endothelial nerve in the pulmonary vessels, leading to a reduction in pulmonary artery pressure and deceleration of disease progression. In 2021, PADN received the “Breakthrough Device” designation from the FDA for treatment of Group I, Group II, and Group IV pulmonary hypertension. The technology was subsequently included in the European Society of Cardiology and European Respiratory Society guidelines as of 2022.

In 2023, the company also obtained humanitarian device exemption status for Group I cardiac diseases, showcasing its commitment to explore new therapeutic pathways. By the end of 2023, both the catheter and RF generator received market authorization in China, making them commercially available on a global scale. The accompanying 9F sheath also received FDA approval in 2024, further enhancing the product line.

Leadership and Vision

Cynthia Chen, Chairwoman and CEO of Pulnovo Medical, expressed the company’s commitment to leveraging the recent funding to strengthen its clinical trials and initiatives. Under her leadership, Pulnovo has transitioned from research to a fully structured global operation with offices in the U.S., Singapore, Hong Kong, and several cities across mainland China, including Beijing and Shanghai.

William Hu, Principal at Qiming Venture Partners, commended Pulnovo’s achievements in interventional cardiology and heart failure treatments, emphasizing the impressive progress of the PADN technology. He highlighted the commercial availability of the device in mainland China, Hong Kong, and Macao, and mentioned that global multicenter trials would commence soon across various European and Southeast Asian countries.

As longstanding investors in healthcare innovation, Qiming Venture Partners is dedicated to supporting Pulnovo’s international expansion and market entry efforts, aspiring to provide new hope to patients worldwide. The company continues to demonstrate its potential in transforming the landscape of heart failure treatment through innovative solutions and strategic growth initiatives.