News Summary

Montreal-based medtech startup Puzzle Medical Devices has successfully raised $43 million in a second Series A funding round to support the clinical trial of its innovative heart pump, ModulHeart. This round was co-led by Desjardins Capital and KF Matheson, with significant contributions from Lumira Ventures, Longview Ventures, and BDC Capital. The ModulHeart is designed to offer a less-invasive alternative to traditional left ventricular assist devices (LVADs), aiming to support cardiac and renal function in patients with advanced heart failure. The funds will be utilized to refine the heart pump, advance its human feasibility study to test safety and efficacy, and expand the team. The company, led by CEO and co-founder Jade Doucet-Martineau, anticipates a Series B round to complete a pivotal study, followed by a Series C round to prepare for market entry by 2029.