Orchestra BioMed reports positive clinical data; plans pivotal trials H2 2023

Orchestra BioMed Holdings, Inc.

BackBeat CNT showed 8.1 mmHg net reduction in 24-hour aSBP at 6 months and 17.5 mmHg oSBP reduction at 2 years.
Virtue SAB in coronary ISR: 0.12 mm late lumen loss at 6 months, 2.8% target lesion failure at 1 year.
Pivotal trials for BackBeat CNT and Virtue SAB intend to start in H2 2023.
Medtronic collaboration: double-digit revenue share and $50M equity investment; Terumo: 10-15% royalty and $30M upfront.
Target markets: >$10B (BackBeat CNT) and >$3B (Virtue SAB); strong balance sheet with committed investors.

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