Core Insights - Orchestra BioMed has secured $70 million in new capital from Ligand Pharmaceuticals and Medtronic to advance its late-stage cardiology programs [1][3][4] Investment Details - Ligand Pharmaceuticals will invest a total of $35 million, which includes $20 million at closing, $15 million subject to conditions, and an additional $5 million in an equity private placement [3][5] - Medtronic will invest $30 million, comprising $10 million in an equity private placement and $20 million in a secured subordinated promissory note convertible to prepaid revenue share [4][5][6] Strategic Collaboration - The agreement between Orchestra BioMed and Medtronic has been amended to include the development of AVIM therapy-enabled leadless pacemakers, enhancing their existing collaboration [2][5][6] - The partnership aims to address significant health challenges such as uncontrolled hypertension and arterial disease, targeting high-risk patient populations [3][9] Product Development - AVIM therapy is designed to lower blood pressure in patients with hypertension who are indicated for a pacemaker, showing promising results in pilot studies [12] - Virtue SAB is being developed for the treatment of atherosclerotic artery disease, with positive clinical data supporting its efficacy [13] Market Potential - Both AVIM therapy and Virtue SAB have received Breakthrough Device Designation from the FDA, indicating their potential to meet high unmet medical needs in cardiovascular care [9][12][13]