UW Spin-out Kona Medical Secures $30M in Financing to Pursue Novel Hypertension Therapy
Kona Medical announced it has raised $30 million in Series C financing to advance its novel hypertension therapy. The company was founded in 2009 by CEO Michael Gertner and is headquartered near Seattle in Bellevue, Washington.
Kona Medical licensed technology from the University of Washington, developed by UW researchers Jessica Foley, James Little, and Shahram Vaezy, that uses high intensity focused ultrasound to treat nerves. Kona is developing an ultrasound-based approach to address severe high blood pressure (hypertension) through ablation of the renal nerves. Renal nerves are located proximal to the renal arteries, which provide blood flow to the kidneys. Renal nerves are part of the sympathetic nervous system and play a significant role in determining blood pressure. Recent clinical data have shown that ablation of renal nerves can result in profound and lasting reduction in hypertension in patients whose blood pressure is not adequately controlled by medication. Industry analysts have forecast that the future market for devices to effect renal denervation may reach several billion dollars worldwide.
Kona Medical will use proceeds from the financing to fund clinical trials and to add staff in both Bellevue and the San Francisco Bay Area as it advances its technology into commercial development.
Read the Kona Medical press release.