Sam Brusco, Associate Editor06.11.24
Kardium has raised $104 million in a new financing round led by existing investor Fidelity Management & Research Company, together with follow-on participation by funds and accounts advised by T. Rowe Price Associates and T. Rowe Price Investment Management, as well as new investor Durable Capital Partners LP.
The company said the new funds will help it complete its PULSAR clinical study to receive regulatory approvals for its Globe system, grow its manufacturing team and capacity, and build a clinical support and commercial team to prepare for the Globe system’s launch.
Kardium finished enrolling patients in the paroxysmal cohort of its PULSAR IDE study last month.
The Globe mapping and ablation system is used to treat atrial fibrillation (AFib) with pulsed fiend ablation (PFA). It consists of a catheter with a 122-electrode array and software for rapid pulmonary vein isolation, high-definition mapping, and the ability to ablate anywhere in the atrium.
Recent clinical data showed using the Globe system yielded freedom from atrial arrhythmia at one year in 84.2% of paroxysmal AFib patients and 80% in persistent AF patients.
“We are very excited to have the continued support of existing investors, and welcome Durable Capital Partners to this round,” said Kevin Chaplin, CEO of Kardium. “Their enthusiasm and support reflect the incredible success we have achieved with the Globe System and the tremendous potential we have to dramatically improve the treatment of atrial fibrillation for millions of patients worldwide.”
The company said the new funds will help it complete its PULSAR clinical study to receive regulatory approvals for its Globe system, grow its manufacturing team and capacity, and build a clinical support and commercial team to prepare for the Globe system’s launch.
Kardium finished enrolling patients in the paroxysmal cohort of its PULSAR IDE study last month.
The Globe mapping and ablation system is used to treat atrial fibrillation (AFib) with pulsed fiend ablation (PFA). It consists of a catheter with a 122-electrode array and software for rapid pulmonary vein isolation, high-definition mapping, and the ability to ablate anywhere in the atrium.
Recent clinical data showed using the Globe system yielded freedom from atrial arrhythmia at one year in 84.2% of paroxysmal AFib patients and 80% in persistent AF patients.
“We are very excited to have the continued support of existing investors, and welcome Durable Capital Partners to this round,” said Kevin Chaplin, CEO of Kardium. “Their enthusiasm and support reflect the incredible success we have achieved with the Globe System and the tremendous potential we have to dramatically improve the treatment of atrial fibrillation for millions of patients worldwide.”