Puzzle Medical, founded in 2018 and based in Montreal, is developing a long-term, percutaneous transcatheter heart pump for people with advanced heart failure. The device features a modular design intended to allow safe implantation to support both renal and cardiac function. Its system uses 4mm pumps that anchor in parallel in the descending aorta. The company positions the device as a potentially less-invasive alternative to LVADs. Puzzle Medical closed a Series A of approximately $25 million (CAN$34 million) and plans to use the funds to complete a human feasibility study, expand development efforts, and attract talent. The company recently added Duke Rohlen, Aftab Kherani and Maria Berkman to its board of directors. Puzzle Medical Devices is developing ModulHeart, a percutaneous heart pump intended for patients with advanced heart failure who are not transplant or surgical MCS candidates. The device uses a modular design of multiple parallel endovascular pumps anchored in the descending aorta, enabling low pump speeds, secure aortic anchoring, and positioning distal to the cerebral arteries. That design is intended to preserve blood integrity, reduce risk of embolic events, and enable ambulatory and outpatient use with low risks of bleeding, stroke, and pump thrombosis. Puzzle Medical has demonstrated safety and efficacy in preclinical studies and has obtained FDA Breakthrough Device designation. The company recently closed a major Seed financing round to fund a first-in-human study of the ModulHeart device. The team has expanded governance and clinical expertise, adding David Prim, PhD to the board and several renowned heart-failure advisors. Puzzle Medical Devices is developing a minimally invasive transcatheter pump intended for long-term hemodynamic support. The company has completed acute in-vivo preclinical implantations with reported success. The investment follows completion of its first preclinical studies and is intended to support continued development toward clinical testing. Puzzle is led by CEO Stuart Kozlick and is based in Montreal, Canada. The company closed its first financing round as it advances its transcatheter pump program. No operating metrics or revenues were disclosed in the article.

Total raised

$25M

Funding rounds

3

Latest round

Series A

Latest activity

Feb 2023