Kona Medical, Inc., a Bellevue, Washington-based developer of novel hypertension therapy, has raised $30m in Series C financing.
The round was led by large-cap medical technology company, with participation from existing investors Essex Woodlands, Domain Associates, Morgenthaler Ventures and BioStar Ventures.
Led by founder and CEO Michael Gertner, MD, Kona Medical is developing an ultrasound-based approach to address severe high blood pressure (hypertension) through ablation of the renal nerves. Its proprietary technology, which utilizes externally delivered ultrasound energy to ablate the renal nerves, can enable non-invasive treatment for drug-resistant hypertension and has significant potential advantages over alternative methods. It is still investigational and not yet for sale or approved by the US Food and Drug Administration.
The company intends to use the proceeds from the financing for clinical trials and to add staff in both Bellevue and the San Francisco Bay Area as it advances its technology into commercial development.
Kona Medical also added experienced medical device executive John Bowers, former Senior Vice President at SonoSite, Inc., as Chief Operating Officer.