On July 5, 2022, Orchestra BioMed, Inc. closed the transaction. The company has received $98,725,735.55 in its second tranche, brining total funding raised in the transaction to $110,000,000. The round of funding led by returning investor RTW Investments, LP for $20,000,000 as part of the transaction.

The transaction included participation from new investor Medtronic plc for $40,000,000, returning investors SternAegis Ventures, Terumo Corporation, Perceptive Advisors LLC, and others.