Pulnovo Medical Closes $100 Million Series C Round for Global Expansion
Deal News | Mar 04, 2025 | PR Newswire Cision Pulnovo Medical
Pulnovo Medical, a globally recognized pioneer in medical devices for pulmonary hypertension and heart failure, has announced the closure of a nearly $100 million Series C funding round. This funding round was co-led by Qiming Venture Partners and existing shareholder Lilly Asia Ventures, with participation from existing investors OrbiMed and Gaorong Capital on a super pro-rata basis. The proceeds of the funding will be used to advance Pulnovo Medical's global clinical trials and support international expansion and strategic initiatives. The funding round was oversubscribed twice, highlighting the confidence large institutions have in Pulnovo Medical’s global strategy and technical capabilities. Pulnovo Medical was founded in 2013 and has made significant contributions to medical technology advancements. Its flagship technology, PADN, is an innovative minimally invasive treatment for pulmonary hypertension, which has received market approval and multiple designations from major health authorities. The company continues to expand its global presence with new trials and market authorizations, leveraging its leadership and expertise to enhance patient outcomes worldwide.
Sectors
- Medical Devices
- Healthcare Innovation
Geography
- China – Pulnovo Medical is based in China and has received market authorization in the region for their PADN technology.
- United States – Pulnovo Medical plans to conduct FDA trials in the United States, representing its expansion into the American market.
- Asia-Pacific – The funding round is one of the largest in recent years in the Asia-Pacific region for medical device innovation.
- Europe – Pulnovo Medical's global clinical trial initiatives include locations in Portugal and Serbia.
Industry
- Medical Devices – Relevant as Pulnovo Medical is a pioneer in developing medical devices for treating pulmonary hypertension and heart failure.
- Healthcare Innovation – Pulnovo Medical is involved in innovative treatments for significant health conditions, highlighting its role in healthcare innovation.
Financials
- Nearly $100 million – The total amount raised in the Series C funding round by Pulnovo Medical.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Pulnovo Medical | Target Company | Company | A pioneer in medical devices for pulmonary hypertension and heart failure, leading global expansion and clinical trials. |
| Qiming Venture Partners | Bidding Company/Investor | Company | A venture capital firm co-leading the Series C funding round to support Pulnovo Medical's expansion and innovations. |
| Lilly Asia Ventures | Investor | Company | An existing shareholder in Pulnovo Medical that co-led the Series C funding round. |
| OrbiMed | Investor | Company | A healthcare investment firm participating in the funding round on a super pro-rata basis. |
| Gaorong Capital | Investor | Company | An investment firm partaking in Pulnovo Medical's funding round on a super pro-rata basis. |
| Cynthia Chen | Executive Leader | Person | Chairwoman, Executive President, and President of Pulnovo Medical, announcing the utilization of funds for clinical trials. |
| William Hu | Investor Representative | Person | Partner at Qiming Venture Partners, advocating Pulnovo's global clinical initiatives and supporting its strategic growth. |