CVRx closes $65m record:
This article was originally published in Clinica
Hypertension treatment specialist CVRx has received $65m in a fourth round financing led by Johnson & Johnson's venture capital arm, J&J Development (JJD). As part of the financing, Brad Vale, vice president of JJD, has joined Maple Grove, Minnesota-based CVRx's board of directors. The round saw new investor BBT Fund LP combine with existing shareholders New Enterprise, Thomas Weisel, InterWest, ABS, Frazier Healthcare and SightLine to bring the overall financing to in excess of $125m. CVRx will use the funds to advance the current pivotal clinical trials of its Rheos Baroflex hypertension therapy system, which it claims is the only implantable device designed to control hypertension.