Puzzle Medical Devices Inc. Wins TCT 2022 Shark Tank Innovation Competition

NEW YORK – September 27, 2022 – The Cardiovascular Research Foundation (CRF) is pleased to announce that Puzzle Medical Devices Inc. has won the TCT 2022 Shark Tank Innovation Competition for its novel circulatory support device that is implanted percutaneously in the abdominal aorta. The competition took place during Transcatheter Cardiovascular Therapeutics (TCT), the world’s premier educational meeting specializing in interventional cardiovascular medicine, September 16-19 in Boston. The winner was also presented with the Jon DeHaan Foundation Award for Innovation in Cardiology.

“We are excited to name Puzzle Medical as this year’s TCT Shark Tank Innovation Competition winner,” said Juan F. Granada, MD, President and Chief Executive Officer of CRF, the sponsor of TCT. “Their ModulHeart device has the potential to change the course of treatment for heart failure patients in a minimally invasive way.”

The ModulHeart device provides hemodynamic support through three endovascular pumps inserted in series and assembled in parallel into a self-expandable anchor implanted in the descending aorta. Results from the device’s first-in-human study were published on September 17, 2022 and showed 100% procedural success in four patients. In addition, cardiac output increased by 25%, urine output increased by nine-fold, and left ventricular end-diastolic pressure decreased by 78%.

“It is an honor to be recognized by CRF and the Jon DeHaan Foundation,” said Jade Doucet-Martineau, Co-founder and CEO of Puzzle Medical Devices, Inc. “Our team is grateful to have been chosen from the other innovative companies that presented at this year’s TCT Shark Tank Innovation Competition. With the successful completion of our first-in-human study, further investigations are underway using the ModulHeart device.”

“Now in its ninth year, the TCT Shark Tank Innovation Competition was created to highlight the most innovative device concepts and technological developments with the potential to disrupt the cardiovascular field and dramatically change how patients are treated,” said Greg L. Kaluza, MD, PhD, Senior Director of Research, CRF Skirball Center for Innovation. “This year six companies were chosen to present their technologies at the TCT 2022 Shark Tank. A distinguished panel of multidisciplinary experts judged the entrants on the six criteria established for the competition at its inception: unmet clinical need, technology differentiation, IP position/viability, biological proof of concept, regulatory pathway, and commercialization potential.”

For the fifth year in a row, the TCT Shark Tank Innovation Competition partnered with the Jon DeHaan Foundation to provide a $200,000 award for the winner. The Jon DeHaan Foundation is dedicated to supporting those working to advance cardiac medicine and provides grants and awards to individuals and companies who focus on innovative developments in cardiovascular medicine, including research, prevention, diagnosis, treatment, or rehabilitation.

“We are delighted to support the ground-breaking work of Puzzle Medical as it has the potential to benefit countless heart failure patients and we wish them the best of luck as they continue their research endeavors,” said Robert Schwartz, MD, President of the Jon DeHaan Foundation. “The DeHaan Foundation remains committed to its primary mission of supporting cardiovascular disease and medical innovation and our partnership with CRF and TCT is an ideal collaboration to further this goal.”

“CRF is truly grateful to the Jon DeHaan Foundation for their continued support of pioneers in the field dedicated to developing novel technologies for the diagnosis and treatment of cardiovascular diseases,” added Dr. Granada.

About CRF and TCT

The Cardiovascular Research Foundation (CRF) is one of the world’s leading nonprofit organizations specializing in interventional cardiology innovation, research, and education. CRF is dedicated to helping doctors improve survival and quality of life for people suffering from heart and vascular disease. For over 30 years, CRF has helped accelerate medical breakthroughs and educated doctors on the latest treatments for heart disease. CRF’s centers of excellence include the CRF Skirball Center for Innovation, CRF Clinical Trials Center, CRF Center for Education, CRF Digital, TCTMD, and Structural Heart: The Journal of the Heart Team.

Transcatheter Cardiovascular Therapeutics (TCT) is the annual scientific symposium of CRF and the premier educational meeting specializing in interventional cardiovascular medicine. Now in its 34^th year, TCT features major medical research breakthroughs and gathers leading researchers and clinicians from around the world to present and discuss the latest evidence-based research in the field.

For more information, visit www.crf.org and www.tctconference.com.

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