Montreal, QC – Puzzle Medical, a Montreal-based startup developing a percutaneous heart pump designed to support cardiac and renal function in patients with advanced heart failure, announced today the successful closing of its CAN$ 34 million Series A funding round led by Cordis-X, a Cardiovascular-Focused Investment Vehicle Backed by Ajax Health, Hellman &Friedman, and KKR. The round also included participation from Longview Ventures, Desjardins Capital, and BDC Capital’s Thrive Venture Fund, as well as existing investors.
The funding will be primarily used to complete the company’s Human Feasibility Study, which aims to evaluate the safety and efficacy of the percutaneous heart pump. Puzzle Medical will also allocate resources towards expanding its development efforts and attracting top talent to facilitate its growth trajectory. In addition to this, the company is pleased to welcome Duke Rohlen, Aftab Kherani, and Maria Berkmanto its Board of Directors.
According to Dr. George Adams, an interventional cardiologist at UNC Rex Hospital and Chief Medical Officer of Cordis, “Heart failure is a devastating condition that impacts over 30 million people worldwide. I believe that Puzzle Medical’s percutaneous heart pump has the potential to revolutionize the treatment of advanced heart failure, and I’m excited to witness the positive impact it can have on the lives of my patients and others around the globe.”