CVRx Secures $113 Million Series G Financing to Advance Barostim Neo for Heart Failure and Hypertension

In the United States, the incidence of hypertension has risen significantly in recent years alongside the growing obese population. Traditional management of hypertension has primarily relied on pharmacological control. U.S. medical device company CVRx has focused on implantable devices, dedicating its efforts to treating hypertension and heart failure caused by it.

On August 9, CVRx announced the completion of a $113 million Series G financing round, comprising $93 million in equity financing and $20 million in debt financing. The round was led by Johnson & Johnson Innovation – JJDC, with participation from New Enterprise Associates, Ysios BioFund I F.C.R., and Windham Venture Partners. The company plans to use the proceeds to complete clinical trials for its Baroreflex Activation Therapy for heart failure (BeAT-HF) and to expand its global business operations.

CVRx, founded in 2001 and headquartered in Minnesota, is a privately held company dedicated to the development of implantable technologies. The company has developed BAROSTIM NEO, a second-generation minimally invasive implantable system, which has received Humanitarian Device Exemption (HDE) designation from the U.S. Food and Drug Administration (FDA). Implanted subcutaneously near the clavicle, this device stimulates the body’s neural reflex pathways to help regulate blood flow. While neuromodulation technologies are typically used for pain management, CVRx has innovatively applied this approach to the treatment of hypertension and heart failure.

Heart failure is primarily characterized by the heart’s inability to pump sufficient blood to meet the metabolic and functional demands of various organs, resulting in impaired baroreflex function and an inability to properly regulate blood flow. BAROSTIM NEO modulates the baroreceptors in the carotid artery wall, activating the baroreflex via afferent pathways of the autonomic nervous system. The brain then regulates efferent pathways, leading to vasodilation and a reduced heart rate, ultimately achieving a reduction in blood pressure.

The product has obtained CE certification for medical devices in Europe for the treatment of heart failure and resistant hypertension, and is currently undergoing clinical evaluation in the United States and Canada. Additionally, it shows potential efficacy in the treatment of chronic kidney disease.

Reprinted from: 36Kr