• Payment fulfills previously disclosed funding commitment of $20 million and supports planned completion of the BACKBEAT Global Pivotal Trial ("BACKBEAT Trial") evaluating Atrioventricular Interval Modulation Therapy ("AVIM Therapy") in patients with uncontrolled hypertension and an indication for a pacemaker as part of the strategic collaboration between Orchestra BioMed and Medtronic
• This payment, together with $15 million received from Ligand and announced separately, represents a total of $35 million in strategic capital received under previously disclosed agreements

NEW HOPE, Pa., May 06, 2026 (GLOBE NEWSWIRE) -- Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) ("Orchestra BioMed" or the "Company"), a biomedical company accelerating high-impact technologies to patients through strategic partnerships with market-leading global medical device companies, today announced the receipt of a $20 million investment from Medtronic, plc. (NYSE:MDT, "Medtronic"))) pursuant to the previously disclosed strategic financing agreement. The funding represents the completion of a scheduled tranche under the agreement, as well as Medtronic's continued support for the BACKBEAT Trial for AVIM Therapy, Orchestra BioMed's global pivotal trial evaluating its patented investigational treatment for uncontrolled hypertension in pacemaker-indicated patients.