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§ Public · New Hope, PA, USA
Orchestra BioMed is a technology company.
Orchestra BioMed develops therapeutic products addressing unmet clinical needs in procedure-based medicine. Its pipeline includes AVIM Therapy and Virtue® SAB, a drug-coated balloon for conditions including coronary in-stent restenosis and peripheral artery disease. The company accelerates high-impact solutions to market by targeting mature therapeutic device sectors, leveraging risk-reward sharing partnerships for rapid adoption.
The company was co-founded by David P. Hochman, Chairman and Chief Executive Officer, and Darren R. Sherman, President and Chief Operating Officer. Mr. Hochman assumed his CEO role in May 2018. Their foundational insight established a collaborative business model to expedite development and commercialization of innovative medical technologies through strategic industry alliances.
Orchestra BioMed’s investigational products target patients needing advanced cardiovascular interventions. The company’s mission is to enhance patient lives globally by bringing medical innovations to fruition. Its vision optimizes product candidates for strategic partnerships, ensuring efficient delivery of novel therapies to the global market, improving patient outcomes.
Orchestra BioMed has raised $275.0M across 5 funding rounds.
Key people at Orchestra BioMed.
Orchestra BioMed was founded in 2017 by David Hochman (Chief Executive Officer and Founder) and Darren Sherman (President, Chief Operating Officer, Director and Founder).
Orchestra BioMed has raised $275.0M in total across 5 funding rounds.
Orchestra BioMed has raised $275.0M across 5 funding rounds. Most recently, it raised $70.0M Other Equity in August 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 8, 2025 | $70M Venture Round | — | Todd C. Davis, Robert Kowal | Announced |
| Jul 5, 2022 | $110M Series D | Roderick Wong | Medtronic, Perceptive Advisors, Sternaegis Ventures, Terumo Corporation | Announced |
| Dec 10, 2019 | $20M Debt Financing | Clark Hayes | — | Announced |
| Jul 10, 2019 | $34M Series B | Perceptive Advisors, RTW Investments, Soleus Capital | Sternaegis Ventures, Terumo Corporation | Announced |
| Nov 19, 2018 | $41M Venture Round | — | — | Announced |
Key people at Orchestra BioMed.
Orchestra BioMed (NASDAQ: OBIO) is a biomedical innovation company developing transformative therapeutic products for unmet needs in procedure-based medicine, particularly hypertension and atherosclerotic artery disease.[1][2] It employs a partnership-enabled business model, collaborating with leading medical device firms like Medtronic and Terumo to advance late-stage technologies through clinical trials and regulatory approvals, while partners handle global commercialization.[1][2][3][4] The company's flagship programs include AVIM therapy (a hypertension treatment integrated into pacemakers) and Virtue Sirolimus Angio Infusion Balloon (a non-coating treatment for coronary and peripheral artery disease), both nearing or in pivotal trials with strong clinical data.[4]
These products target massive markets—hypertension as a top global mortality risk factor and artery disease as the leading cause of death—serving patients via integrated cardiac devices and interventional therapies to improve outcomes where current treatments fall short.[1][4] Growth momentum includes a 2022 strategic partnership with Medtronic, a $110M Series D financing backed by Terumo, Medtronic, RTW Investments, and Perceptive Advisors, and a NASDAQ listing via SPAC merger with cash runway into 2026.[3]
Orchestra BioMed emerged from Orchestra Medical Ventures, an investment firm founded by CEO David Hochman and President/COO David Sherman, who previously served as its Managing Partners focusing on high-impact medical device therapies.[5] Hochman became Chairman and CEO in May 2018, while Sherman joined as President, COO, and Board member, co-founding the company and its subsidiaries like Caliber, BackBeat, and Freehold.[5] The idea crystallized around accelerating innovations through risk-reward partnerships, building on their venture experience to de-risk development and commercialization.[2][3]
Early traction came with a June 2019 global strategic partnership with Terumo, followed by Medtronic's 2022 collaboration on BackBeat Cardiac Neuromodulation Therapy (AVIM).[3][4] Pivotal moments include the $110M Series D in H2 2022 and the NASDAQ debut via Health Sciences Acquisitions Corp. 2 SPAC, with low redemption rates securing financial stability.[3] This evolution shifted from pure investment to hands-on biomedical development, humanized by a leadership team blending venture savvy, cardiology expertise (e.g., interventional cardiologist Dr. Pieter Stella), and deep medtech operations.[5]
Orchestra BioMed stands out in medtech through its partnership-first model, outsourcing commercialization to giants like Medtronic (pacemakers) and Terumo (global devices) for faster market access, royalties, and shared R&D costs.[1][2][4] Key strengths include:
This model differentiates from traditional device makers by emphasizing development efficiency and upside via royalties over solo scaling.[4]
Orchestra BioMed rides the convergence of bioelectronics and interventional cardiology, addressing chronic diseases like hypertension and atherosclerosis amid rising demand for minimally invasive, integrated therapies.[1][4] Timing aligns with aging populations, post-pandemic cardiovascular focus, and medtech giants seeking bolt-on innovations for stagnant portfolios—e.g., pacemakers needing hypertension add-ons.[3][4] Market forces favor it: massive unmet needs (hypertension as a top killer, artery disease #1 globally), regulatory tailwinds for late-stage assets, and investor appetite shown in its $110M raise and SPAC listing.[1][3]
It influences the ecosystem by pioneering partnered development models, de-risking startups via Big Medtech alliances, inspiring similar risk-sharing in cardiovascular tech, and accelerating patient access through outsourced commercialization.[2][4] This counters high failure rates in device trials, shaping a more collaborative medtech landscape.
Orchestra BioMed's near-term catalysts—pivotal trial readouts for AVIM (Medtronic-partnered) and Virtue SAB (Terumo-partnered)—could unlock royalties and further deals, extending its cash into 2026+.[3][4] Trends like AI-driven trial design, combo-device approvals, and Asia-Pacific medtech growth (via Terumo) will propel it, potentially expanding to adjacent cardio-renal indications.[4] Influence may evolve from innovator to platform licensor, as partnerships multiply and NASDAQ visibility draws strategics.
Tying to its core: by forging alliances to "bring medical innovations to life," Orchestra exemplifies efficient medtech scaling, poised to transform procedure-based care for millions.[1]
Orchestra BioMed was founded in 2017 by David Hochman (Chief Executive Officer and Founder) and Darren Sherman (President, Chief Operating Officer, Director and Founder).
Orchestra BioMed has raised $275.0M in total across 5 funding rounds.
Orchestra BioMed's investors include Todd C. Davis, Robert Kowal, Roderick Wong, Medtronic, Perceptive Advisors, SternAegis Ventures, Terumo Corporation, Clark Hayes, RTW Investments, Soleus Capital.