Kardium's Globe System: A Revolutionary Breakthrough in Atrial Fibrillation Treatment
June 21, 2024, 9:34 pm
Location: Canada, British Columbia, Burnaby
Employees: 51-200
Founded date: 2007
Total raised: $249M
Kardium Inc., a pioneering medical technology company based in Vancouver, BC, Canada, recently announced a significant milestone in its journey towards transforming the treatment landscape for atrial fibrillation. Securing a substantial $104 million in funding for its cutting-edge Globe Mapping and Ablation System, Kardium is poised to make a lasting impact on the lives of millions of patients worldwide.
The latest financing round, spearheaded by the esteemed Fidelity Management & Research Company, underscores the confidence and support of existing investors in Kardium's innovative approach to addressing atrial fibrillation. Joining the funding consortium are funds and accounts advised by T. Rowe Price Associates, Inc. and T. Rowe Price Investment Management, Inc., along with the new investor Durable Capital Partners LP.
This infusion of capital will play a pivotal role in advancing Kardium's mission, enabling the company to complete its crucial PULSAR clinical study. The study aims to obtain regulatory approvals for the Globe System, a groundbreaking technology that promises to redefine the standard of care for atrial fibrillation. Additionally, the funding will fuel the expansion of Kardium's manufacturing team and capacity, as well as the development of a robust clinical support and commercial team in preparation for the forthcoming commercial launch of the Globe System.
At the heart of Kardium's transformative technology is the Globe Mapping and Ablation System, a sophisticated catheter equipped with a 122-electrode array and advanced software. This state-of-the-art system empowers healthcare providers with the ability to achieve rapid pulmonary vein isolation, conduct high-definition mapping, and perform precise ablation within the atrium - all with the convenience of a single catheter. Such capabilities represent a significant leap forward in the field of atrial fibrillation treatment, promising improved outcomes and enhanced patient experiences.
The recent unveiling of clinical data at the prestigious Heart Rhythm Society annual meeting has further solidified the promise of the Globe System. Impressively, the data showcased freedom from atrial arrhythmia rates of 84.2% in paroxysmal atrial fibrillation patients and 80% in persistent atrial fibrillation patients. These compelling results underscore the potential of the Globe System to deliver meaningful clinical benefits and improve the quality of life for individuals grappling with atrial fibrillation.
In a statement reflecting on the latest funding round, Kardium's CEO, Kevin Chaplin, expressed profound gratitude for the unwavering support of existing investors and extended a warm welcome to Durable Capital Partners LP. Chaplin emphasized the remarkable success achieved with the Globe System and the immense potential it holds to revolutionize atrial fibrillation treatment on a global scale.
As Kardium continues to push the boundaries of innovation and redefine the possibilities in atrial fibrillation treatment, the future looks brighter than ever for patients and healthcare providers alike. With the Globe System poised to make its mark as a game-changer in the field, Kardium stands at the forefront of a new era in cardiovascular care, where precision, efficiency, and patient-centricity converge to shape a healthier tomorrow.
The latest financing round, spearheaded by the esteemed Fidelity Management & Research Company, underscores the confidence and support of existing investors in Kardium's innovative approach to addressing atrial fibrillation. Joining the funding consortium are funds and accounts advised by T. Rowe Price Associates, Inc. and T. Rowe Price Investment Management, Inc., along with the new investor Durable Capital Partners LP.
This infusion of capital will play a pivotal role in advancing Kardium's mission, enabling the company to complete its crucial PULSAR clinical study. The study aims to obtain regulatory approvals for the Globe System, a groundbreaking technology that promises to redefine the standard of care for atrial fibrillation. Additionally, the funding will fuel the expansion of Kardium's manufacturing team and capacity, as well as the development of a robust clinical support and commercial team in preparation for the forthcoming commercial launch of the Globe System.
At the heart of Kardium's transformative technology is the Globe Mapping and Ablation System, a sophisticated catheter equipped with a 122-electrode array and advanced software. This state-of-the-art system empowers healthcare providers with the ability to achieve rapid pulmonary vein isolation, conduct high-definition mapping, and perform precise ablation within the atrium - all with the convenience of a single catheter. Such capabilities represent a significant leap forward in the field of atrial fibrillation treatment, promising improved outcomes and enhanced patient experiences.
The recent unveiling of clinical data at the prestigious Heart Rhythm Society annual meeting has further solidified the promise of the Globe System. Impressively, the data showcased freedom from atrial arrhythmia rates of 84.2% in paroxysmal atrial fibrillation patients and 80% in persistent atrial fibrillation patients. These compelling results underscore the potential of the Globe System to deliver meaningful clinical benefits and improve the quality of life for individuals grappling with atrial fibrillation.
In a statement reflecting on the latest funding round, Kardium's CEO, Kevin Chaplin, expressed profound gratitude for the unwavering support of existing investors and extended a warm welcome to Durable Capital Partners LP. Chaplin emphasized the remarkable success achieved with the Globe System and the immense potential it holds to revolutionize atrial fibrillation treatment on a global scale.
As Kardium continues to push the boundaries of innovation and redefine the possibilities in atrial fibrillation treatment, the future looks brighter than ever for patients and healthcare providers alike. With the Globe System poised to make its mark as a game-changer in the field, Kardium stands at the forefront of a new era in cardiovascular care, where precision, efficiency, and patient-centricity converge to shape a healthier tomorrow.