Gradient Denervation raises €14m for pulmonary hypertension treatment
Gradient Denervation Technologies has successfully closed a €14 million Series A financing round to support the clinical development of its ultrasound-based catheter device for pulmonary hypertension treatment. The funding round was led by Asabys Partners through its new fund Sabadell Asabys II and saw participation from Thuja Capital and founding investor Sofinnova Partners.
Gradient Denervation Technologies Background and Mission
Headquartered in Paris, Gradient Denervation Technologies was founded on innovation developed by clinicians Dr. Swaminadhan Gnanashanmugam and Dr. Jeffrey Feinstein from Stanford Biodesign Program. Initially funded through a €3.5 million seed round from Sofinnova MD Start, the venture capital firm’s dedicated medtech accelerator, the company aims to develop a minimally invasive device to treat pulmonary hypertension. It is worth noting that the device is for investigational use only and has yet to receive commercial approval.
Clinical Focus on Pulmonary Hypertension
The company focuses on a specific group of pulmonary hypertension patients who suffer from heart failure and high pulmonary vascular resistance. This Group 2 pulmonary hypertension population comprises a large number of patients with no approved therapies available. Gradient Denervation Technologies’ device aims to reduce sympathetic input into the pulmonary vasculature through the use of therapeutic ultrasound energy.
Investor and Executive Quotes
Martin Grasse, CEO of Gradient Denervation Technologies, expressed, “I’m very happy to welcome Asabys Partners and Thuja Capital to the Gradient team. In addition to capital, these investors bring deep expertise and thought partnership to Gradient as we seek to bring our technology to patients.”
Sylvain Sachot, Partner at Asabys Partners, said, “Gradient’s technology has the potential to become a first-in-class treatment for patients suffering from heart failure and elevated pulmonary pressures. The company is ready to prove the concept of its technology in the clinic, and we look forward to joining the management in this exciting journey.”
Clinical Studies and Future Direction
Earlier this year, Gradient Denervation Technologies initiated a first-in-human clinical study to evaluate the effectiveness of its innovative catheter device. The Series A financing will likely expedite the ongoing clinical development and evaluation, solidifying the company’s presence in the medical device arena for pulmonary hypertension treatment.