Pulnovo Medical Raises ￥100 Million in New Funding Round

(VCBeat) Aug. 04, 2021 -- Pulnovo Medical (Wuxi) Co.,Ltd. ("Pulnovo Medical") recently completed a new round of financing of more than 100 million yuan, co-led by OrbiMed and Cenova Capital, with participation from Lilly Asia Ventures, and GaoRong Capital. The funds raised in this round will mainly be used for the full pipeline product development and the launch of global multi-center clinical trials.

Pulnovo Medical was established in 2013. It is a wholly-owned Hong Kong enterprise that integrates development, production and services. Its core products including use of radiofrequency ablation technology to treat pulmonary hypertension. The high-frequency ablation equipment and intravascular catheters developed by the company are pioneer inventions with global invention patents.

Pulnovo Medical has established a 10,000-level purification workshop according to international standard with multiple advanced foreign equipments.

Pulnovo Medical has built a 10,000-level clean workshop, active production workshop and warehouse in accordance with GMP and ISO 13485 requirements. It has a complete water injection, purified water system and independent physical, chemical, and microbiological laboratories.

In early 2021, the self-developed radiofrequency ablation product of Pulnovo Medical achieved the US FDA Breakthrough designation. Prior to this, Pulnovo Medical has completed the enrollment of all patients in the PADN-CFDA clinical trial, and will continue to assist each enrollment center in the follow-up of the enrolled patients and other work.

OrbiMed is a healthcare-dedicated investment firm, with approximately US$5 billion in assets under management. OrbiMed's investment advisory business was founded in 1989 with a vision to invest across the spectrum of healthcare companies.

Cenova Capital is one of the earliest healthcare dedicated funds in China founded in 2010 and is one of the earliest investors in private healthcare services and digital health. Currently, Cenova Capital has five funds under management and invested in over 50 companies with a proven track record across three funds.