Pulnovo Medical announced the successful completion of its Series C funding round, raising nearly $100 million. The financing was co-led by Qiming Venture Partners and existing shareholder Lilly Asia Ventures, with additional participation from OrbiMed and Gaorong Capital on a super pro-rata basis. Based in Shanghai, Pulnovo reported that the round was oversubscribed by two times, making it one of the largest fundraises in the Asia-Pacific medical device sector in recent years.
The company plans to use the funds to advance global clinical trials, expand its international business, and support strategic initiatives.
Pulnovo specializes in developing pulmonary artery denervation (PADN) technology, a treatment for pulmonary hypertension (PH) and heart failure (HF). PADN uses radiofrequency ablation to target the pulmonary vascular endothelial sympathetic nerve, helping to reduce pulmonary artery pressure and slow the progression of the disease.
The PADN system has FDA breakthrough device designation. Pulnovo Executive Chair and President Cynthia Chen said the company plans to us proceeds to support upcoming FDA trials.
“Pulnovo Medical’s breakthroughs in interventional treatments for PH and HF are impressive. The company’s PADN technology is now commercially available in Chinese Mainland, Hong Kong, and Macau, and in 2024, global multicenter trials were initiated in Portugal, Serbia, Georgia, and Southeast Asia”, said William Hu, managing partner of Qiming Venture Partners. “Following the FDA breakthrough device designation, the global clinical trials further validate the technology’s leadership and clinical value.
We are confident in Pulnovo Medical’s potential and will support its international expansion and commercialization, bringing new hope to patients worldwide”.
