Wed, 21 Oct 2020

PARIS, FRANCE / ACCESSWIRE / September 17, 2020 / Gradient Denervation Technologies, a Paris-based medical device company developing a minimally-invasive solution for the treatment of pulmonary hypertension, announced today the close of a €3.5M seed financing from Sofinnova Partners to support the development of its intravascular, catheter-based technology. The funding will enable the company to advance towards a fully validated device while systematically de-risking areas that are key to its growth: Intellectual property, pre-clinical validation, regulatory and market access pathways, and initial clinical experience. The Sofinnova MD Start III Fund's unique incubation structure will also bring greater operational capabilities to accelerate the development of the company's highly disruptive technology.

Founded in February 2020, Gradient Denervation Technologies ('Gradient') builds on an innovation from two clinicians from Stanford University, Dr. Swami Gnanashanmugam and Dr. Jeffrey Feinstein. The company is managed by the Sofinnova MD Start III team, which is comprised of seasoned medtech professionals: Anne Osdoit, Chief Executive Officer, Dr. Lukas Guenther, Chief Medical Officer, and Cécile Dupont, Chief Operating Officer.

'Gradient's technology has the potential to enhance the duration and quality of life of pulmonary hypertension patients by offering a minimally-invasive, device-based treatment option,' said Dr. Gnanashanmugam, a cardiac surgeon, now at the Texas Heart Institute. 'The expertise and operational support that Sofinnova MD Start III brings to our innovation will provide a tremendous accelerator for growth.'

'We are proud to see that the innovation we created can now be translated into a revolutionary solution designed to improve the lives of pulmonary hypertension patients,' said Dr. Feinstein, Professor of Pediatrics (Cardiology) and Bioengineering at Stanford University, and the holder of the The Dunlevie Family Professorship in Pulmonary Vascular Disease.

'Pulmonary hypertension is a progressive and highly debilitating disease, characterised by elevated blood pressure in the respiratory system,' commented Dr. Guenther, Chief Medical Officer of the company. 'Available therapeutic options are extremely limited with less than 15% of patients with pulmonary hypertension eligible for complex drug regimens,[1] making it a serious disease with large unmet needs. We aim to build a solid foundation for the successful development of the technology and ultimately accelerate the availability of our new therapy to millions of patients, while also improving the healthcare economics surrounding this critical disease.'

Gradient is developing a solution designed to restore the benefits of a healthy, elastic pulmonary artery, which in turn reduces cardiac workload, enhances blood flow and brings pulmonary pressure back under safety thresholds.

Gradient is one of two French medtech finalists that recently received the support of the EIT Health catapult training program. The program aims to boost the development of European health start-ups by connecting them with top quality experts and international investors.

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About Gradient Denervation Technologies

Gradient Denervation Technologies develops a device-based minimally invasive solution for the treatment of pulmonary hypertension with technology developed by two clinicians from Stanford University. It is a privately held portfolio company of Sofinnova Partners, financed through the MD Start III Fund and based in Paris, France. For more information, please visit: https://www.gradientdenervation.com

About Sofinnova Partners

Sofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Based in Paris, France, with offices in London and Milan, the firm brings together a team of 40 professionals from all over Europe, the U.S. and Asia. The firm focuses on paradigm-shifting technologies alongside visionary entrepreneurs. Sofinnova Partners invests across the Life Sciences value chain as a lead or cornerstone investor, from very early-stage opportunities to late-stage/public companies. It has backed over 500 companies over more than 48 years, creating market leaders around the globe. Today, Sofinnova Partners has over €2 billion under management. For more information, please visit: www.sofinnovapartners.com

About Sofinnova MD Start III

Sofinnova MD Start III is committed to creating and accelerating companies that offer revolutionary solutions for unmet medical needs. It builds on the success of MD Start I and MD Start II which proved the validity of the concept. Sofinnova MD Start III has privileged access to breakthrough technologies in healthcare through its network of scientists and experts from prestigious research and development centers around the world. MD Start has successfully launched over nine companies that focus on bridging the gap between patient care and medical device innovation. Learn more here.

[1] Rieth, A., 2017. What Can Be Expected From Current Treatments For Pulmonary Hypertension?. [online] Escardio.org. Available at: [Accessed 30 June 2020].

Media Contacts:

Anne Osdoit, CEO, Gradient Denervation Technologies

aosdoit@sofinnovapartners.com

SOURCE: Sofinnova Partners



View source version on accesswire.com:
https://www.accesswire.com/606397/Gradient-Denervation-Technologies-Raises-35M-in-Seed-Funding-with-Sofinnova-Partners

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