MINNEAPOLIS, Minnesota — Medtronic joined Morgenthaler Ventures and three other firms in investing $47 million in Ardian Inc., a California device company that treats hypertension, according to a press release.
Ardian is developing a catheter system that disrupts the sympathetic nerves in the kidneys, which will in turn reduce blood pressure. One reason for hypertension is hyper-activation of the sympathetic nervous system.
Ardian’s release did not say how the company would use the funding. Early clinical trials results are due next week.
Advanced Technology Ventures and Split Rock Partners – which, like Morgenthaler, are previous investors – also joined in the investment along with new investor Emergent Medical Partners. Medtronic was also a new investor.
Ardian raised at least $17 million before this round, according to filings with the Securities and Exchange Commission.
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