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

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

Munich-based healthtech startup Adjucor has closed its Series B funding round with 29 million euros. The lead investor is Israeli medical platform MitrAssist, which is giving €25 million. Existing investor, Pullach-based private equity firm Maurizio Capital is adding four million euros.

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

Adjucor is developing an implantable cardiac assist device that, unlike competing products, does not come into contact with the blood. The idea is to prevent strokes and bleeding that can occur during surgery. Such 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 will now undergo the first clinical tests. "The investment offers us the clear prospect of participating in the first planned first-in-human feasibility study," says Stephan Schueler, Adjucor's clinical advisor and head of the mechanical circulatory support department at Freeman Hospital in Newcastle upon Tyne, UK. Adjucor was founded in 2012. The start-up has already raised more than €40 million in funding rounds.