Certain VCs are becoming reluctant to invest in medtech, citing difficulties such as a shrinking pool of buyers and increasing regulatory challenges. But Sofinnova Partners has successfully sold a medical device portfolio company – and one that is in a difficult field like renal denervation, no less – to a Japanese buyer. Antoine Papiernik, managing partner at the French VC, explains how persevering with a renal denervation technology paid-off and gives his perspective on whether medtech is still a space worth investing in.
The recent sale of ReCor Medical Inc., developer of the Paradise ultrasound-based-renal denervation system, by its lead VC investor Sofinnova Partners to Japanese group Otsuka Holdings has provided further evidence that a renal denervation revival is underway.
Financial details of the transaction were not disclosed but Antoine Papiernik, managing partner of the Paris-headquartered venture capital firm, indicated...
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