Gradient Denervation Technologies announced that it closed a $15 million (€14 million) Series A financing round.
Paris-based Gradient develops a catheter-based solution for treating pulmonary hypertension. It expects the financing to support the ongoing clinical development and evaluation of the ultrasound-based device.
Asabys Partners led the round through its new fund, Sabadell Asabys II. Thuja Capital and founding investor Sofinnova Partners also participated in the round.
Gradient designed its novel technology to treat pulmonary hypertension by reducing sympathetic input into the pulmonary vasculature. Its initial focus, the “Group 2” pulmonary hypertension population, includes patients with heart failure and associated high pulmonary vascular resistance.
The company says more than 50% of heart failure patients present this debilitation condition. This patient population currently has no approved therapies, the company added. It designed the minimally invasive device to harness ultrasound energy to perform denervation procedures in the pulmonary arteries.
Gradient initiated a first-in-human clinical study earlier this year. It was one of 50 startups to participate in MedTech Innovator’s accelerator program in 2022.
“I’m very happy to welcome Asabys Partners and Thuja Capital to the Gradient team,” CEO Martin Grasse said in a news release. “In addition to capital, these investors bring deep expertise and thought partnership to Gradient as we seek to bring our technology to patients.”