Kardium announced today that it raised $250 million in a new financing round to support the launch of its pulsed field ablation system.
New investors, including Janus Henderson Investors, Qatar Investment Authority (QIA), MMCAP, Piper Heartland Healthcare Capital, Eventide Asset Management and Eckuity Capital, led the oversubscribed round. Existing investors, such as funds advised by T. Rowe Price and Durable Capital Partners, also participated. The financing also included an equity investment from an unnamed leading strategic investor.
Kardium said the new funding enables it to pursue regulatory approvals for its Globe system. Other uses for funds include expanding manufacturing and production and establishing a clinical support and commercial team. It also enables further clinical research for additional applications of the Globe system.
More about the Kardium Globe system
The Vancouver, British Columbia-based company designed its Globe mapping and ablation system with a catheter that features a 122-electrode array and advanced software. The platform enables rapid pulmonary vein isolation, high-definition mapping and the ability to ablate anywhere in the atrium. All of these capabilities combine in one single catheter.
Globe catheter sensors provide proprietary Contact maps to identify electrodes in contact with cardiac tissue. This helps to ensure therapy for AFib is effectively delivered. The technology delivers just 1.2 applications per vein on average, making it a single-short PFA solution. It has integrated mapping and ablation, all built into one single catheter.
Earlier this year, the company shared data from its PULSAR IDE trial backing the Globe system.
“We’re thrilled to have secured this transformational financing with a world-class syndicate of investors,” said Kevin Chaplin, CEO of Kardium. “This funding enables us to move ahead with the commercial launch of the Globe system by expanding our manufacturing capabilities and building a strong commercial team. Everyone at Kardium is energized by the opportunity to bring the Globe system to market and help improve the lives of millions of patients worldwide suffering from atrial fibrillation.”
