Syntach
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Syntach AB is a Lund, Sweden-based medtech company founded in 2012 with close ties to Lund University. It is developing the Syntach Cardiac Support System, a revolutionary, minimally invasive long-term cardiac support device for the rapidly growing number of heart failure patients: unlike conventional cardiac assist devices, it can be implanted without open-heart surgery and needs no drive line through the skin, instead aiding the heart's natural atrioventricular-plane movement with each beat. It is also developing a minimally invasive mitral-valve repair device for patients with valve regurgitation. Under CEO Patrick N.J. Schnegelsberg it secured up to EUR 17.5 million in blended EIC Accelerator financing (a EUR 2.5M grant in Dec 2021 plus up to EUR 15M equity, Jan 2023) and was selected for CRT 2023's Best Innovation Competition. No failure has been reported; it remains active.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Company founded
Syntach AB was founded in Lund, Sweden, to create a new class of cardiac support devices, working closely with Lund University.
- EIC grant
Syntach was awarded a EUR 2.5 million grant from the European Innovation Council in December 2021.
- EIC equity financing and CEO appointment
Syntach received up to EUR 15 million in EIC Accelerator equity financing, named Patrick N.J. Schnegelsberg CEO, and was selected for CRT 2023's Best Innovation Competition.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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