Pulnovo Medical, a medical device firm focusing on pulmonary hypertension (PH) and heart failure (HF) treatment, has completed a Series C funding round, securing close to $100m.
This funding was co-led by Qiming Venture Partners alongside Lilly Asia Ventures, an existing shareholder. Other participants included OrbiMed and Gaorong Capital, who contributed on a super pro-rata basis.
The capital will be directed towards advancing clinical trials globally, expanding international business operations, and supporting strategic growth initiatives.
Founded in 2013, Pulnovo Medical is said to leverage its clinical knowledge to drive scientific advancements and commercialisation efforts worldwide. Its focus is on developing therapeutic solutions for different stages of HF to enhance patient outcomes.
Pulnovo Medical’s key product, Pulmonary Artery Denervation (PADN) technology, offers a minimally invasive treatment for PH. PADN utilises radiofrequency ablation to target the pulmonary vascular endothelial sympathetic nerve, effectively lowering pulmonary artery pressure and slowing disease progression.
PH is a condition with limited treatment options that can lead to heart failure and increased mortality.
In 2021, the firm’s PADN technology received the US Food and Drug Administration (FDA) breakthrough device designation for Group I, Group II, and Group IV PH. It was added to the European Society of Cardiology and European Respiratory Society Guidelines in 2022. By 2023, Pulnovo Medical achieved the Humanitarian Use Exemption Device designation for Group I PH.
The RF catheter and RF generator gained market approval in China at the end of 2023, becoming commercially available worldwide. In 2024, Pulnovo Medical’s 9F sheath accessory product secured FDA clearance.
In August 2024, Pulnovo Medical initiated Asia’s first international multi-centre clinical study of PADN for treating PH associated with left heart disease.
