Puzzle Medical

Puzzle Medical Devices Inc. is a Montreal-based medical device startup that develops a percutaneous heart pump called ModulHeart for patients with advanced heart failure. The device's modular design allows for hemodynamic support through multiple parallel endovascular pumps anchored in the descending aorta. This novel approach results in low pump speeds, secure aortic anchoring, and positioning distal to the cerebral arteries, enabling safe long-term implantation with minimal risk of bleeding, stroke, and pump thrombosis.

In July 2022, Puzzle Medical successfully completed its first-in-human study, where the ModulHeart device was deployed, activated, and removed in four patients undergoing high-risk percutaneous coronary intervention procedures, with no procedural or device-related complications. All patients experienced improvements in cardiac and kidney function.

The company's technology has received Breakthrough Device Designation from the US FDA, allowing for an expedited review process. In January 2022, Puzzle Medical closed a major seed financing round led by investors such as Broadview Ventures, Grant Park Ventures, and Cathexis Ventures to fund its first-in-human study. In February 2023, the company closed a CADUSD 34 million Series A funding round led by Cordis-X, with participation from Longview Ventures, Desjardins Capital, and BDC Capital's Thrive Venture Fund, to complete its Human Feasibility Study and expand development efforts.

In March 2023, Puzzle Medical received CADUSD 300,000 in financial assistance from Canada Economic Development for Quebec Regions to increase its productivity and production capacity by acquiring digital equipment, a cleanroom, and securing its intellectual property.