Medtronic committed $30 million in strategic capital to Orchestra BioMed, as part of Orchestra BioMed securing over $111 million in proceeds and committed capital. Medtronic's investment includes $10 million in an equity private placement and an additional $20 million in a secured subordinated promissory note convertible to prepaid revenue share.
This investment expands the strategic collaboration between Medtronic and Orchestra BioMed, providing a pathway for the development of AVIM therapy-enabled leadless pacemakers. The proceeds are expected to extend Orchestra BioMed's cash runway into the second half of 2027 and fund key clinical trials.
The expanded collaboration aims to accelerate high-impact technologies to patients, particularly in the treatment of uncontrolled hypertension. This strategic capital commitment underscores Medtronic's focus on investing in innovative solutions and partnerships that align with its long-term growth algorithm.
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