Heart of Innovation: Kardium Secures $143 Million CAD for Commercial Launch

Kardium is a medical solutions company headquartered in Vancouver that has developed a device to treat atrial fibrillation, an irregular and often rapid heart rhythm. The device consists of a Globe Mapping and Ablation System (“Globe System”): the only system that records and shows the activity of the atrium in real-time, all with just a single catheter. Clinical data demonstrates that the Globe System can achieve promising results, curing 80-84% of patients of atrial fibrillation after one year of use.

Kardium just announced it has secured $143 million CAD in financing for its Globe System. The round was led by existing investor Fidelity Management & Research Company, along with T. Rowe Price, and new investor Durable Capital Partners. The funding will be used to complete clinical studies that are needed to secure regulatory approvals, and ultimately prepare and execute a commercial launch.

After the round, Kevin Chaplin, CEO of Kardium, provided the following statement:

Kardium previously raised a large sum of funding for its Globe System in 2021, acquiring $158 million CAD. This funding contributed to further development of the Globe System and completion of the first in-human study.