What Changed

Orchestra BioMed received a milestone payment from Medtronic, its strategic collaboration partner, on Sept 14, 2026.

The payment lifts the company's total cash proceeds from this collaboration to approximately $11 million, a figure that includes an upfront payment of about $5 million received in January 2026.

Highlights

  • Orchestra BioMed received a milestone payment from Medtronic on Sept 14, 2026.
  • Total cash proceeds to date stand at approximately $11 million, including a prior upfront payment of about $5 million paid in January 2026.
  • Orchestra BioMed is eligible for additional proceeds of up to approximately $10 million, bringing total potential proceeds to as much as $21 million.
  • AVIM Therapy, a bioelectronic treatment for hypertension, and Virtue SAB have each received FDA Breakthrough Device Designation.
  • An estimated 7.7 million people in the U.S. have uncontrolled hypertension.

Who Is Affected

Orchestra BioMed is eligible to receive additional proceeds of up to approximately $10 million tied to further milestones under the collaboration, which would bring its total potential proceeds from the arrangement to as much as $21 million.

AVIM Therapy, described as a bioelectronic treatment for hypertension, has received FDA Breakthrough Device Designations.

A related program, Virtue SAB, has also received FDA Breakthrough Device Designation.

An estimated 7.7 million people in the United States have uncontrolled hypertension, the patient population these therapies target.

What To Watch Next

Orchestra BioMed has held a strategic stake in Vivasure Medical Limited, an Ireland-based company, since Vivasure's formation.

Haemonetics completed its acquisition of Vivasure on Jan 9, 2026.

Vivasure developed the PerQseal Elite system, which remains not available for sale in the United States.