Orchestra BioMed Secures $111M in Funding from Strategic Transactions and Equity Offerings

Orchestra BioMed has secured over $111 million in proceeds and committed capital through strategic transactions and concurrent public and private equity offerings. The funds will extend the company's cash runway into the second half of 2027 and fund the completion of the BACKBEAT study and substantial enrollment of the Virtue Trial. The transactions include a $55 million royalty-based investment from Medtronic and Ligand, as well as a $56.2 million public offering and private placements with Medtronic and Ligand.