Pulnovo Medical announced the successful completion of an oversubscribed $100 million strategic financing round with a leading investment by Medtronic.
Separately, Medtronic and Pulnovo have entered into a commercial agreement that contemplates potential future commercialization opportunities. The agreement is designed to leverage the commercial synergy between Pulnovo and Medtronic and Medtronic's global commercialization capabilities.
Pulnovo's proprietary Pulmonary Artery Denervation (PADN) System targets a key underlying mechanism of cardiopulmonary disease and has demonstrated clinical benefits, including improvements in functional capacity and patient outcomes. To date, the company has performed approximately 1,500 PADN procedures globally and has secured regulatory approvals in seven countries, supporting its expanding international footprint. Pulnovo is advancing commercialization across the European Union, Middle East and China.
In the United States, Pulnovo has received FDA Breakthrough Device designation and has initiated two fully approved Investigational Device Exemption (IDE) trials, both led by Dr. Gregg Stone, Senior Faculty and Professor at Mount Sinai.
"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," said Cynthia Chen, president of Pulnovo Medical, in a statement.
The proceeds from this financing will be used to support ongoing clinical development, global regulatory submissions, international commercialization, and continued investment in the company's core technology platform.
