Healthtech start-up Adjucor receives 29 million euros in Series B funding

The Munich-based start-up has attracted a new investor. Adjucor is now planning its first clinical trial for its device.

The Munich-based healthtech start-up Adjucor has closed its Series B financing round with 29 million euros. The lead investor is the Israeli medical platform MitrAssist, which is providing 25 million euros. The existing investor, Pullach-based investment company Maurizio Capital, added four million euros.

"We are more than satisfied with the trust placed in our technology and our team," says CEO and heart surgeon Stephen Wildhirt. "Securing the 29 million euros in this financing round and the participation of MitrAssist are exactly what Adjucor was looking for to achieve its goals."

Adjucor is developing an implantable heart assist device that, unlike competing products, does not come into contact with the blood. This is intended to prevent strokes and bleeding that could occur during surgery. These so-called LVADs are needed in cases of cardiac insufficiency, when the heart can no longer pump enough blood through the body on its own.

The product is now to undergo its first clinical trials. "The investment offers us the clear prospect of participating in the first planned first-in-human feasibility study," says Stephan Schueler, clinical advisor to Adjucor and Head of the Department of Mechanical Circulatory Support at the Freeman Hospital in Newcastle upon Tyne, UK. Adjucor was founded in 2012. The start-up has already raised more than 40 million euros in financing rounds.