Orchestra BioMed™ Announces Completion of $41 Million Financing
Motus GI Holdings, Inc. (MOTS)
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Source: GlobeNewswire
Capital proceeds to support late-stage clinical development of lead cardiovascular product candidates for artery disease and hypertension Financing structure provides for up to an additional $23 million in follow-on financing from existing investors NEW HOPE, Pa., Nov. 15, 2018 (GLOBE NEWSWIRE) -- Orchestra BioMed, Inc., (“Orchestra BioMed” or the “Company”), a biomedical innovation company developing advanced therapeutic solutions to address major unmet medical needs, today announced the successful final closing of a $41 million private equity financing, which also included the conversion of outstanding debt to equity. Proceeds from the financing will support continued late-stage clinical development of Orchestra BioMed’s lead product candidates, which include the Virtue® Sirolimus-Eluting Balloon (SEB) for the treatment of artery disease and the BackBeat® Cardiac Neuromodulation Therapy (CNT) for the treatment of hypertension. “This successful financing marks a signific
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