Canada-based medical solutions company Kardium has raised $250m in an oversubscribed financing round to support the commercial launch of its Globe System.
The funding was led by new investors Eckuity Capital, Eventide Asset Management, Janus Henderson Investors, MMCAP, Piper Heartland Healthcare Capital, and Qatar Investment Authority.
Existing investors Durable Capital Partners, T. Rowe Price Associates, and T. Rowe Price Investment Management also participated in the financing round.
Kardium plans to use the new funding to pursue regulatory approvals for the Globe System and expand its manufacturing facilities and production capacity.
Janus Henderson Investors portfolio manager Aaron Schaechterle said: “We are delighted to join Kardium as an investor. The Globe System is a disruptive innovation with exemplary clinical outcomes that has the potential to improve the lives of patients with atrial fibrillation.
“This is a pivotal moment in the evolution of AF treatment, as the field transitions toward pulsed field ablation, and we are proud to help support the introduction of Kardium’s groundbreaking technology to the market.”
Globe System is an advanced treatment for atrial fibrillation (AF) that features a sophisticated catheter with a 122-electrode array and advanced software.
The system enables rapid pulmonary vein isolation, high-definition mapping, and the ability to ablate anywhere in the atrium with a single catheter.
The PULSAR clinical study showed that the Globe System resulted in a 78% freedom from atrial arrhythmia in paroxysmal AF patients at one year, with no safety events reported.
In addition, the company aims to establish a clinical support and commercial team in preparation for the anticipated launch later this year.
Kardium also plans to conduct further clinical research to explore additional applications and indications for the Globe System.
Kardium CEO Kevin Chaplin said: “We’re thrilled to have secured this transformational financing with a world-class syndicate of investors.
“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 energised by the opportunity to bring the Globe System to market and help improve the lives of millions of patients worldwide suffering from atrial fibrillation.”
