Gradient Denervation Technologies (“Gradient”), a medical device company developing an innovative catheter-based solution for the treatment of pulmonary hypertension, announces today the successful closing of a €14m Series A financing that will support ongoing clinical development and evaluation of the ultrasound-based catheter device. BHH member Asabys Partners led the round through its new fund Sabadell Asabys II and was joined by Thuja Capital and founding investor Sofinnova Partners. Gradient was established in 2020 through a €3.5m seed financing from Sofinnova MD Start, the venture capital firm’s dedicated medtech accelerator.
Headquartered in Paris, the company is founded on cutting-edge innovation developed by the clinicians Dr. Swaminadhan Gnanashanmugam and Dr. Jeffrey Feinstein at the prestigious Stanford Biodesign Program. The company initiated a first-in-human clinical study earlier this year.
Gradient’s novel technology aims to treat patients with pulmonary hypertension by reducing sympathetic input into the pulmonary vasculature. The company’s initial focus is the Group 2 pulmonary hypertension patient population, which consists of patients with heart failure and associated high pulmonary vascular resistance. Up to 50% of heart failure patients have this debilitating condition, resulting in a large patient population with no approved therapies. Gradient’s minimally invasive device, designed for use in the pulmonary arteries, harnesses therapeutic ultrasound energy to perform the denervation procedure.
Martin Grasse, Chief Executive Officer of Gradient, said, “I’m very happy to welcome Asabys Partners and Thuja Capital to the Gradient team. In addition to capital, these investors bring deep expertise and thought partnership to Gradient as we seek to bring our technology to patients.”
Sylvain Sachot, Partner at Asabys Partners, said, “Gradient’s technology has the potential to become a first-in-class treatment for patients suffering from heart failure and elevated pulmonary pressures. The company is ready to prove the concept of its technology in the clinic, and we look forward to joining the management in this exciting journey.”
Evan Castiglia, Partner at Thuja Capital, added, “Gradient has the potential to significantly improve the care of patients with pulmonary hypertension due to left heart disease, a patient group with a substantial need for better treatment solutions. We are excited to support the team as they pursue this mission.” Mano Iyer, Venture Partner at Sofinnova Partners, commented, “Our continued support for Gradient underscores Sofinnova’s mission of backing world-class innovation.
The transformative potential we saw in Gradient’s unique technology at the outset is increasingly apparent, reinforcing our early conviction. We are excited to work with an expanded investor base to make this technology available for all patients with heart failure and pulmonary hypertension.”