Pulnovo Medical

Pulnovo Medical (帕母医疗), founded in 2013, develops radiofrequency ablation therapies for pulmonary hypertension and heart failure, anchored by its self-developed PADN (pulmonary artery denervation) system — a world-first minimally invasive interventional product whose ablation catheter earned FDA Breakthrough Device Designation in early 2021 . By April 2026 it had completed roughly 1,500 PADN procedures across seven countries and closed an oversubscribed $100 million Series D led by Medtronic — which also signed a commercial cooperation agreement — with EQT, Qiming Venture Partners, Gaorong Ventures, OrbiMed, Lilly Asia Ventures and Sequoia China among participants; Gaorong first invested in 2021 and has topped up every round since . Regulatory momentum has continued since: after Indonesia, the PADN system won approval in Malaysia and the three Baltic states for Group 1 pulmonary hypertension, per a Qiming Venture Partners update in August 2026, while the company pushes commercialization in the EU, Middle East and China and runs two FDA-approved IDE trials in the US .