Pulnovo Medical's Remarkable $100M Series C Financing Secured
Deal News | Mar 02, 2025 | PR Newswire Cision Pulnovo Medical
Pulnovo Medical has announced the close of a substantial $100 million Series C financing round. This funding was heavily oversubscribed, reflecting the company's promising future in the medical device sector, specifically regarding treatments for pulmonary hypertension (PH) and heart failure (HF). The round was co-led by Qiming Venture Partners and Lilly Asia Ventures, with significant contributions also coming from OrbiMed and Gaorong Capital. The funds will go towards supporting Pulnovo's global clinical trials, expanding international operations, and pursuing strategic initiatives. Founded in 2013, Pulnovo has made substantial advancements with its innovative Pulmonary Artery Denervation (PADN) technology, aimed at reducing pulmonary artery pressure and treating PH. Various international accolades validate Pulnovo's innovations, with PADN receiving both FDA Breakthrough Device designation and market approval in China. Under Chairlady Cynthia Chen, the company has transformed into a robust international entity with a strategic goal of global expansion, backed by strong investor support.
Sectors
- Medical Devices
- Venture Capital
Geography
- China – Pulnovo Medical is based in China and has achieved regulatory approval for its PADN technology in this region.
- Asia-Pacific – This classification is relevant as the financing news represents one of the largest fundraises in the Asia-Pacific medical device sector.
- United States – FDA trials and regulatory pursuits for Pulnovo Medical are a focus in the U.S. market.
- Europe – Pulnovo Medical initiated multicenter trials in European countries like Portugal, Serbia, and Georgia, emphasizing its strategic expansion toward global markets.
Industry
- Medical Devices – This article is focused on Pulnovo Medical, a company specializing in pioneering medical devices aimed at treating pulmonary hypertension and heart failure.
- Venture Capital – The article discusses the involvement of venture capital firms Qiming Venture Partners and Lilly Asia Ventures in Pulnovo Medical's Series C financing round.
Financials
- $100 million – The amount raised by Pulnovo Medical in its Series C financing round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Pulnovo Medical | Target Company | Company | A pioneer in medical devices for pulmonary hypertension and heart failure, advancing innovative therapeutic solutions. |
| Qiming Venture Partners | Investor | Company | A venture capital firm that co-led Pulnovo Medical's Series C financing. |
| Lilly Asia Ventures | Investor | Company | An existing shareholder and co-leader in Pulnovo Medical's Series C financing. |
| OrbiMed | Investor | Company | Participated in the financing round on a super pro-rata basis. |
| Gaorong Capital | Investor | Company | Participated in the financing round on a super pro-rata basis. |
| Cynthia Chen | Executive | Person | Chairlady, Executive Chairwoman, and President of Pulnovo Medical. |
| William Hu | Executive | Person | Managing Partner of Qiming Venture Partners. |