Adjucor developed an implantable cardiac assist device, which – unlike other models – completely avoids blood contact. The startup hopes to use this to prevent complications such as strokes and bleeding that can occur during interventions in the circulatory system. Furthermore, the pacemaker is custom-manufactured for each patient using 3D imaging, which should ensure optimized performance. Adjucor has already demonstrated the effectiveness of its solution in preclinical studies.
The startup has now completed its Series B financing round. Healthtech company MitrAssist Holdings invested €25 million in the Munich-based startup, with an additional €4 million coming from existing investor Maurizio Group. Peggy Wang, CEO of MitrAssist Holdings, says:
"We are very pleased to have completed this new investment round, adding the company to our portfolio of world-class companies and becoming a strategic partner. Despite the constraints associated with investing during a global pandemic, the Adjucor team has gone the extra mile to clearly demonstrate their value proposition and clearly has the expertise and experience to execute on their plans. This makes them a perfect fit for our profile of founding and management teams with whom we work exclusively—and their vision of becoming the global market leader in mechanical circulatory support is clear."
Adjucor was founded in 2012 by Stephen Wildhirt The experienced heart surgeon explains:
"We are more than pleased with the trust placed in our technology and our team. Securing the €29 million in this financing round and the participation of MitrAssist Holdings Limited are exactly what Adjucor was looking for to achieve its goals."
Adjucor plans first clinical trial
Stephan Schueler, Clinical Advisor to Adjucor and Head of the Mechanical Circulatory Support Unit at the Freeman Hospital in Newcastle upon Tyne, UK, adds:
"Considering the many patients with end-stage heart failure we treat daily, who will surely benefit enormously from this technology, we are very pleased with the news of the new investment in Adjucor. It provides us with a clear perspective to participate in their planned first-in-human feasibility study, to be conducted together with Prof. Ulrich Stock at Harefield Hospital in London, UK."
"We are very proud to have supported Professor Wildhirt and his team in achieving the critical R&D goals and the necessary investments to enable entry into the clinical phase. Therefore, we are pleased to continue supporting their efforts with this follow-on investment. Their continued commitment and hard work to better serve this large patient group with such bleak prospects and unattractive treatment options is truly admirable."
says Rüdiger Wilbert, Managing Director of the Maurizio Group.
