Kardium, developer of the Globe Mapping and Ablation System for the treatment of atrial fibrillation, has raised US $104 million in a new financing round. The 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, Inc. and T. Rowe Price Investment Management, Inc. as well as new investor Durable Capital Partners.
“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 new financing will allow Kardium to complete its PULSAR clinical study in order to obtain regulatory approvals for the Globe System, to grow the manufacturing team and capacity, and to build a clinical support and commercial team in preparation for the commercial launch of the Globe System.
Recent clinical data presented at the Heart Rhythm Society annual meeting demonstrated 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 consists of a sophisticated 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.
