New Hope, Pa.-based Orchestra Biomed Inc. scooped up $34 million in a series B-1 preferred stock financing led by Perceive Advisors, RTW Investments and Soleus Capital. The funds will be used to advance development of the company's Backbeat cardiac neuromodulation therapy (CNT) system, to support commitments to Orchestra's strategic global partnership with Tokyo-based Terumo Corp. for the development and marketing of the Virtue sirolimus-eluting balloon (SEB) and to grow the company's product pipeline and pursue future collaborations. Terumo and existing investors from Sternaegis Ventures also participated in the round.

Paris-based Ablacare SA, which is focused on women's health and fertility care, has raised €10 million (US$11.2 million) in series A financing from Sofinnova Partners. Proceeds are earmarked for advancing the company's clinical and regulatory programs in Europe and the U.S. The company also reported the appointment of medical device executive Jodie Fam as CEO. In addition, Andrew Weiss, president and CEO at Recor Medical Inc., has been named chairman of the company's board.