Pulnovo Medical Closes Series C Financing to Advance Trials of PADN Technology

March 2, 2025—Pulnovo Medical announced the closing of approximately $100 million Series C financing. Pulnovo is a China-based developer of medical devices for pulmonary hypertension (PH) and heart failure (HF).

Pulnovo’s pulmonary artery denervation (PADN) technology uses radiofrequency (RF) ablation to target the pulmonary vascular endothelial sympathetic nerve to reduce pulmonary artery pressure and slow disease progression.

According to Pulnovo, proceeds from the financing round will be used to advance the company’s international business expansion, strategic initiatives, and global clinical trials, including two upcoming FDA trials for group I PH and group II PH (chronic heart failure combined with PH) planned this year.

The financing round was co-led by Qiming Venture Partners and existing shareholder Lilly Asia Ventures, with existing investors OrbiMed and Gaorong Capital participating on a super prorata basis, advised Pulnovo.

In its press release, the company noted recent achievements, including market approval in China for the PADN RF catheter and RF generator (received in late 2023) and FDA clearance of Pulnovo’s accessory product, the 9-F sheath (received in 2024).

In July 2024, Pulnovo announced the initiation of a global multicenter clinical study of its PADN treatment for PH associated with left heart disease.