Pulnovo Medical, a medical technology company focused on breakthrough therapies for pulmonary hypertension and heart failure, announced the completion of an oversubscribed $100 million strategic financing round led by Medtronic. The round also included continued participation from existing investors EQT, Qiming Venture Partners, Gaorong Ventures, OrbiMed, and Lilly Asia Ventures, along with new investors including HSG and other global backers.
The financing represents a major milestone for Pulnovo as it accelerates its global expansion and strengthens validation of its technology and clinical progress. In addition to the investment, Pulnovo and Medtronic have entered into a commercial agreement aimed at exploring future commercialization opportunities by leveraging Medtronic’s global reach and capabilities.
Pulnovo’s proprietary Pulmonary Artery Denervation (PADN) System is designed to treat cardiopulmonary disease by targeting overactive sympathetic nerve activity. The minimally invasive therapy has already been used in approximately 1,500 procedures worldwide and has received regulatory approvals in seven countries. The company is actively expanding commercialization efforts across the European Union, Middle East, and China.
In the United States, Pulnovo has secured FDA Breakthrough Device designation and launched two fully approved Investigational Device Exemption trials led by Dr. Gregg Stone at Mount Sinai.
The new funding will be used to advance clinical development, support global regulatory submissions, expand international commercialization, and further invest in Pulnovo’s core technology platform.
As part of its leadership expansion, Pulnovo appointed Andre Xiao as Chief Strategy Officer. He will oversee global financing and strategy initiatives, bringing experience from prior roles at Citadel and Millennium Management, where he focused on MedTech investments.
Pulnovo’s PADN therapy has been recognized in multiple international clinical guidelines, including the 2022 ESC and ERS guidelines for pulmonary hypertension, and continues to be evaluated in ongoing clinical studies across Europe, Asia, and the United States.
KEY QUOTE:
“Through the integration of industry expertise and long-term capital, Pulnovo is building a scalable growth model anchored in proprietary innovation, global clinical development, and strategic ecosystem partnerships. This financing marks a pivotal transition from a product-driven phase to a fully integrated global platform. As we continue to strengthen our capabilities across both clinical and technological fronts, we remain committed to delivering meaningful innovation to patients worldwide.”
Cynthia Chen, Chairlady, President, Pulnovo Medical
