CVRx, a US-based medical device company, has completed a $29.6m financing led by venture capital firm New Enterprise Associates and Johnson & Johnson Development Corporation, the venture capital subsidiary of healthcare company Johnson & Johnson, were co-lead investors. Other participants in this round included existing, financial investors BBT Fund L.P. and SightLine Partners.
CVRx plans to use the funding for the primary purposes of advancing its clinical trials and expanding its international commercial activities. CVRx has developed an implantable device, the Barostim neo, designed to treat high blood pressure and heart failure.