Kardium Raises $115M in Financing

Kardium Inc., a Vancouver, British Columbia, Canada-based developer of the Globe® Mapping and Ablation System for the treatment of atrial fibrillation, raised US $115m in financing.

The round was led by Fidelity Management & Research Company LLC., with participation from funds and accounts advised by T. Rowe Price Associates, Inc.

The company intends to use the new funds to accelerate commercial growth of the Globe System across Europe, to conduct a clinical study for US Food and Drug Administration (FDA) approval of the Globe System, and to begin additional clinical studies of a new version of the Globe System that uses pulsed field ablation (PFA), a new energy source for cardiac ablation.

Founded in 2007 and led by Kevin Chaplin, CEO, Kardium is a medical solutions company that has developed an advanced system for the treatment of atrial fibrillation: the Globe Mapping and Ablation System, which consists of a catheter with a 122-electrode array and advanced software that enable rapid pulmonary vein isolation, high-definition mapping, and the ability to ablate anywhere in the atrium – all with a single catheter.

In the past six months, the company has secured CE mark approval, launched the Globe Mapping and Ablation System in Europe, and deployed the new Globe Positioning System (GPS™) 3D mapping and navigation module. Kardium will now further expand its activity across European markets and advance its submissions with the FDA.