On July 10, 2024, Adona Medical, a Shifamed portfolio company that aims to deliver advanced solutions for heart failure, announced that it has secured $33.5 million in Series C financing. The financing was led by Cormorant Asset Management and TCP Health Ventures, with participation from Excelestar Ventures, the PA MedTech VC Fund II, Unorthodox Ventures, AMED Ventures, and other new and existing investors. Wilson Sonsini Goodrich & Rosati advised Adona Medical on the transaction.

The proceeds from the financing will be used to further product development and to initiate clinical use of the company’s adjustable interatrial shunt with integrated bi-atrial pressure monitoring.

The Wilson Sonsini team that advised Adona Medical on the transaction included James Huie and Matt Kovac.

For more information, please see the company’s news release.