Business
Ligand and Medtronic Commit $70 Million in Strategic Capital to Orchestra BioMed
• Ligand to invest $35 million in exchange for a tiered royalty on future sales of Orchestra’s AVIM therapy and Virtue SAB and an additional $5 million in an equity private placement • Medtronic to invest $10 million in an equity private placement and an additional $20 million in a secured subordinated promissory note convertible to prepaid revenue share • Medtronic and Orchestra BioMed expand strategic collaboration to provide pathway for development of AVIM therapy-enabled leadless pacemakers
About this update from Orchestra Biomed Holdings, Inc.
[{"type":"image","alt":"Orchestra BioMed Holdings, Inc.","displaySize":"","headline":null,"caption":"Orchestra BioMed Holdings, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":97,"url":"https://media.zenfs.com/en/globenewswire.com/82bb98ef85c6f29f82627c7205a5e888"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/PcUBlKSAoIj3BMZ.626pqg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEzNjtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/82bb98ef85c6f29f82627c7205a5e888","width":300,"height":97}},"lazy":false},{"type":"text","content":"• Ligand to invest $35 million in exchange for a tiered royalty on future sales of Orchestra’s AVIM therapy and Virtue SAB and an additional $5 million in an equity private placement • Medtronic to invest $10 million in an equity private placement and an additional $20 million in a secured subordinated promissory note convertible to prepaid revenue share • Medtronic and Orchestra BioMed expand strategic collaboration to provide pathway for development of AVIM therapy-enabled leadless pacemakers","length":523,"tagName":"p"},{"type":"text","content":"NEW HOPE, Pa., July 31, 2025 (GLOBE NEWSWIRE) -- Orchestra BioMed Holdings, Inc. (Nasdaq: OBIO, “Orchestra BioMed” or the “Company”), a biomedical company accelerating high-impact technologies to patients through risk-reward sharing partnerships, today announced that the Company has secured $70 million in new capital from Ligand Pharmaceuticals Incorporated (Nasdaq: LGND, “Ligand”) and Medtronic, plc. (NYSE: MDT, “Medtronic”) to advance its late-stage partnered cardiology programs. ","length":487,"tagName":"p"},{"type":"text","content":"Simultaneously, Orchestra BioMed and Medtronic, which have an existing strategic collaboration for atrioventricular interval modulation (“AVIM”) therapy for the treatment of uncontrolled hypertension in pacemaker-indicated patients, have amended their agreement to include the potential future development of AVIM therapy-enabled leadless pacemakers. Unlike traditional pacemakers that are placed in a patient's chest with leads (or wires) running to the heart, minimally-invasive Medtronic Micra™ leadless pacemakers are implanted directly into the heart, reducing potential sources of complications.","length":605,"tagName":"p"},{"type":"text","content":"Ligand $40 million Investment","length"...