Pulnovo Medical, a Shanghai, China-based medtech company developing devices for pulmonary hypertension (PH) and heart failure (HF), raised $100M in Series C funding.
The round was led by Qiming Venture Partners and existing shareholder Lilly Asia Ventures, with existing investors OrbiMed and Gaorong Capita.
The company intends to use the funds to advance its global clinical trials, international business expansion and strategic initiatives.
Founded in 2013 and led by president Cynthia Chen, Pulnovo Medical is a medtech company that leverages clinical expertise to drive scientific advancements and global commercialization. Its core product, PADN (Pulmonary Artery Denervation) technology, is a minimally invasive treatment for PH (a condition that can lead to heart failure and mortality, with limited treatment options) that has obtained market approval. PADN uses radiofrequency ablation to target the pulmonary vascular endothelial sympathetic nerve, effectively reducing pulmonary artery pressure and slowing disease progression.
PADN received FDA Breakthrough Device designation for Group I, Group II, and Group IV PH in 2021. In 2023, Pulnovo Medical achieved the Humanitarian Use Exemption Device designation for Group I PH. The RF catheter and RF generator received market approval in China in late 2023, becoming a commercially available interventional device in the field globally. In 2024, Pulnovo Medical’s accessory product, the 9F sheath, received FDA clearance.
FinSMEs
03/03/2025