Puzzle Medical Devices Inc., a Montreal-based start-up developing a percutaneous heart pump designed to support patients with advanced heart failure, closes C$34 million Series A financing 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, as well as existing investors.
The funding will be primarily used to complete Puzzle Medical Devices Inc.’s Human Feasibility Study, which aims to evaluate the safety and efficacy of the percutaneous heart pump. Puzzle Medical Devices Inc. will also allocate resources towards expanding its development efforts and attracting top talent to facilitate its growth trajectory. In addition to this, Puzzle Medical Devices Inc. is pleased to welcome Duke Rohlen, Aftab Kherani, and Maria Berkman to its Board of Directors.
Fasken advised Puzzle Medical Devices Inc. with a team led by Constantinos Ragas and included Alexie Amyotte, Marianne Khairi-Arancibia, Shannon Snow, LeeAnn Carter, Claude Jodoin, Gabriel Paradis, Rhonda Grintuch and Alexia Magneron.
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