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Orchestra BioMed gets $34mm via Series B-1 financing

Executive Summary

Orchestra BioMed Inc. raised $34mm in a Series B-1 preferred stock financing led by Perceptive Advisors, RTW Investments, and Soleus Capital, which were joined by partner Terumo and returning shareholders SternAegis Ventures. Orchestra may receive up to another $57mm in follow-on investments from existing shareholders based on the structure of its Series B-1 and Series B financings. The company will use the funds for R&D activities including development of its BackBeat cardiac neuromodulation therapy for hypertension. Additional proceeds are earmarked for its collaboration, penned last month, with Terumo for the development and commercialization of the Virtue sirolimus-eluting balloon for percutaneous coronary and peripheral vascular interventions.
Deal Industry
  • Biotechnology
  • Medical Devices
    • Implantable Devices
  • Pharmaceuticals
    • Drug Delivery
      • Controlled Release
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement

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