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Kona Medical secures $10m for Chinese expansion

21 Oct 2013

china dragon_sqInvestment firm Morningside Group has led a $10m Series D round for high blood pressure therapy company Kona Medical, which is looking to expand its presence in China.

The Washington, DC-based company said the funds will allow it to “navigate the complex clinical, regulatory and intellectual property issues associated with this region.”

Kona’s main product is the Surround Sound Renal Denervation System, which utilizes ultrasound to treat nerves leading to and from the kidney. It said that renal denervation leads to significant and lasting reductions in blood pressure in drug-resistant hypertension patients.

Kona founder and CEO Michael Gertner said, “These funds are earmarked for the China market. Our research predicts a very large market in China for a non-invasive therapy to treat hypertension.

“This investment will allow Kona to begin navigating the complex clinical, regulatory, and intellectual property issues associated with this region. We are very pleased to have an experienced investor in the region join the Kona syndicate.”

In May last year Kona raised a Series C $30m round led by Morgenthaler Ventures and BioStar Ventures and backed by Noro-Moseley Partners, C&B Capital, Intersouth Partners and Harbert Ventures.

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