Orchestra Gains on $20M Buy-in from Medtronic
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Orchestra BioMed Holdings, Inc. (NASDAQ: OBIO) announced a $20 million investment from Medtronic, plc. (NYSE: MDT), marking the completion of a scheduled tranche under their agreement. This funding supports the BACKBEAT Trial for AVIM Therapy, aimed at treating uncontrolled hypertension in pacemaker patients. Following the announcement, OBIO shares rose by 1.3% to $4.06, while MDT shares increased by 2% to $80.97. Both companies expressed optimism about their collaboration and the potential benefits of the AVIM Therapy program.
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