NANJING, China, August 3, 2021 / PRNewswire / – Pulnovo Medical, a pioneering medical device company specializing in the treatment of pulmonary arterial hypertension, recently raised millions of dollars through OrbiMed, Cenova, Lilly Asia Ventures (LAV) and GaoRong Capital. The funds raised in this cycle will be used for the complete layout of the product pipeline and the global multi-center clinical trials.
In early 2021, Pulnovo Medical received breakthrough designation from the FDA, being the first Chinese medical device company to receive such certification. In June, Pulnovo Medical completed the recruitment of all patients in the PADN-CFDA (China-FDA) clinical trials and will continue to work with the National Research Center to complete the follow-up work.
As an industry pioneer, Pulnovo has already explored all sources of energy available in processing. The energy source used in the procedure is more optimal, stable and suitable for ANDS therapy. In addition, the shape of Pulnovo’s product is more aligned with the inner wall of the pulmonary artery, greatly improves the safety and efficiency of radiofrequency ablation, while significantly reducing the time of the surgical procedure.
Cynthia Chen, MPH, Executive Chairman, commented, “The road to global medical innovation has never been an easy journey. We have carefully selected professional healthcare investors as partners. Over the past few years, we are grateful to have Chiron-Ventures by our side to lay a solid foundation for the future. Today, we are honored by the recognition and support of OrbiMed, Cenova Capital, Lilly Asia Ventures (LAV) and GaoRong Capital. We are confident and excited for the next chapter of Pulnovo Medical. “
With strong clinical exploration and early stage build-up, Pulnovo Medical is entering a period of vigorous and high-speed development with its products progressing rapidly. He will progressively carry out global multicenter clinical trials benefiting a greater number of patients with pulmonary hypertension.
David Wang, MD, PhD, Partner at OrbiMed Asia, commented, “Pulmonary hypertension is a serious cardiovascular disease with a poor prognosis and there are few clinical treatment options. The 5-year survival rate for group 1 pulmonary hypertension patients is only 57%, while for group 2 pulmonary hypertension the patient population is much larger. and no targeted therapy available, faces an even worse prognosis. As a global pioneer in ANDS technology, Pulnovo’s product received Breakthrough Device Designation for Groups 1, 2, and 4 Pulmonary Hypertension by the FDA in February. Its NMPA registration clinical trial also completed patient enrollment in June. We are impressed with Pulnovo’s innovation and advancement in ANDS, and willing to help the company become a global leader in pulmonary hypertension by providing more effective treatment solutions in this area. “
Dr. June Wu, Managing Partner at Cenova Capital, commented, “Cenova Capital has a long history of focusing on innovative global medical products that address the unmet needs of patients. Pulmonary arterial hypertension (PAH) has often been compared to “cancer of the cardiovascular system,” a disease so serious that the five-year survival rate of patients with PAH is less than 40%. Despite some targeted therapy approvals, there are still huge and urgent unmet needs for about 80% of patients with PAH. We are excited to see an innovative global intervention (ANDS technology) being developed by the Pulnovo team, and we are also very impressed with the strong scientific R&D and execution of the team over the past ten years. We look forward to a successful breakthrough in ANDS products that will bring significant benefits to patients, and we will support the company to become a global leader in the field of PAH.
Fei Chen, PhD, Managing Partner at Lilly Asia Ventures (LAV), commented, “Pulmonary hypertension is known as cancer of the heart and pulmonary vascular system, which represents a huge unmet medical need. has obtained Breakthrough Designation (BTD) from the FDA. LAV is committed to supporting outstanding local businesses with breakthrough innovation capabilities around the world. Pulnovo is the first medical cardiac technology company to obtain a BTD by the FDA in China, we are very proud to partner with the company to support their long-term efforts to fight pulmonary hypertension. “
Kevin Yang, partner at GaoRong Capital, commented, “Pulmonary hypertension is also called ‘the cancer of cardiovascular disease’ because treatment options are very limited while the prognosis is bleak. There are significant unmet medical needs. Pulnovo Medical Ltd. is the global pioneer in pulmonary artery denervation (ANDS) and has been at the forefront of practice for decades. The company’s first ANDS device was named by the FDA in February as a breakthrough device for group 1, 2 and 4 pulmonary hypertension, and recently completed the NMPA registration trial. GaoRong Capital has focused on medical innovations for a long time, and we are willing to partner with Pulnovo to bring more effective treatments to patients with pulmonary hypertension around the world. “
David liu, Chairman of Chiron-Ventures, commented, “As an angel investor of Pulnovo Medical, we realized years ago that pulmonary arterial hypertension has become a global medical burden, accompanied by the ceiling effect of targeted drugs and high patient mortality. To this day, the world has still not developed. effective way to treat disease. Pulnovo Medical has provided a robust clinical solution for patients with pulmonary arterial hypertension, which has been clinically validated and has gained the attention of the pulmonary and cardiovascular hypertension field worldwide. Chiron-Ventures has always been committed to cultivating and supporting start-up companies with cutting edge medical technology, we will continue to work with Pulnovo Medical to create a comprehensive pipeline of solutions for patients with pulmonary arterial hypertension. . “
From biopharmaceuticals to medical devices, diagnostics and healthcare services, OrbiMed explores the world for innovations that will help ensure humanity lives healthier, longer and more productive. OrbiMed has been investing globally for more than 20 years in the healthcare sector: from private start-ups to large multinational corporations. OrbiMed’s team of over 100 eminent scientific, medical, investment and other professionals manages over $ 19 billion through investments by public and private companies around the world.
Cenova Capital is one of the premier healthcare funds dedicated to early stage and growth investments in the life sciences and healthcare sectors in China. Since its creation in 2010, Cenova Capital now manages six funds with investments in more than 60 companies in the fields of health services, pharmaceuticals, medical devices and digital health. Cenova Capital’s investors are primarily large domestic and international institutional investors, including Asian sovereign investors, government institutions, insurance companies, financial institutions and multinational corporations.
About Lilly Asia Ventures (LAV)
Lilly Asia Ventures (LAV) is a leading biomedical venture capital firm, with offices in Shanghai, Hong Kong, and Palo Alto. Founded in 2008 as a venture capital subsidiary of Eli Lilly, LAV split into an independent investment management company. As one of the first biomedical venture capitalists in China, LAV has consistently invested in the region for over a decade and recently increased its presence in the United States. The LAV team of over 30 prominent scientific, medical, investment and operational professionals embraces a culture of integrity, entrepreneurship and teamwork. Currently, LAV manages more than $ 4.5 billion of committed capital. LAV has significant resources in China, with extensive local expertise in preclinical and clinical development, regulatory know-how and market knowledge. LAV also has a strong global outlook and relationships, thanks to the consolidated experience of LAV’s overseas team members as well as LAV’s network of scientific advisors. By combining the LAVs China global expertise and outlook, we are uniquely positioned to support LAV’s portfolio companies and investors around the world.
About GaoRong Capital
GaoRong Capital is dedicated to identifying key founders and working with them to achieve long-term value. GaoRong Capital focuses on early stage and growth phase investments, with a specialty in new consumptions, new technologies and healthcare. Current total assets under management are approximately $ 4.3 billion, including funds in USD and RMB. GaoRong Capital has 19 successful IPO portfolios and over 20 projects valued at over $ 1 billion. GaoRong Capital continues to invest in the healthcare sector and is committed to discovering and supporting leading companies in digital health, medical services, drug discovery, medical instrumentation and testing .
About Chiron Ventures
Chiron-Ventures, focused on innovation and investment in the healthcare sector, was founded in August 2008. The founding team cumulatively invests in more than 30 start-ups in the industry, with an investment amount of hundreds of millions. Chiron-Ventures has accumulated rich and successful experiences and resources in medical technology development, medical innovation and entrepreneurship, and has provided substantial support and value-added professional services to its businesses.
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SOURCE Pulnovo Medical