CVRx, Inc. acquired private equity funding amounting to US $29.6 million, which will be used to finance expansion of its international commercial activities as well as advance its clinical trials.

Co-lead investors for the deal were Johnson & Johnson Development Corporation and New Enterprise Associates. SightLine Partners and BBT Fund LP also participated for this round.

CVRx, Inc., which was established in 2001, is a privately held company. The Minneapolis-based company created Barostim neo^TM, which is an implantable system intended to treat hypertension and heart failure. The company has reportedly treated over 625 patients using its patented device.

Johnson & Johnson Development Corporation, on the other hand, serves as the venture capital arm of Johnson & Johnson. It provides private equity investments among health care companies.

Meanwhile, New Enterprise Associates is a leading venture capital company that concentrates in aiding businesses make and put up major new enterprises. It has an estimated US $13 billion in committed assets across its affiliated funds.