Kardium, the developer of the Globe Mapping and Ablation System for the treatment of atrial fibrillation, announced it has raised $104 million in a new funding round. This funding round is 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 and new investor Durable Capital Partners LP.
The new funding round will enable Kardium to complete its PULSAR clinical study, which will help it obtain regulatory approvals for the Globe System, grow the manufacturing team and capacity, and build a clinical support and commercial team in preparation for the Globe System’s commercial launch.
Recent clinical data presented at the Heart Rhythm Society annual meeting featured impressive results with the Globe System, showing freedom from atrial arrhythmia at 1 year of 84.2% in paroxysmal AF patients and 80% in persistent AF patients.
The Globe Mapping and Ablation System has a sophisticated catheter with a 122-electrode array and advanced software that enables rapid pulmonary vein isolation, high-definition mapping, and the ability to ablate anywhere in the atrium with a single catheter.
KEY QUOTE:
“We are very excited to have the continued support of existing investors and welcome Durable Capital Partners to this round. 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.”
- Kevin Chaplin, CEO of Kardium
