Betakit recently reported that Kardium, a British Columbia-based medical technology company, closed a US$115 million investment round led by US-based Fidelity Management and a follow-on investment by T. Rowe Price Associates. T. Rowe Price Associates previously led Kardium’s US$40 million financing round in 2018. Prior to this most recent financing, Kardium had raised more than US$100 million in total funding.
Kardium has developed a medical device, the Globe Mapping and Ablation System (the “Globe System”), that is considered an advanced system for the treatment of atrial fibrillation. After recently receiving approval from European health authorities, Kardium has launched its device in Europe. With this recent financing round, Kardium plans to:
accelerate commercial growth of the Globe System across Europe;
conduct a clinical study for US Food and Drug Administration (“FDA”) approval of its Globe System; and
begin additional clinical studies of a new version of the Globe System that uses a new energy source for cardiac ablation.
The Globe and Mail also reported that Kardium will use the financing to tide it over until it goes public. It has been suggested that Kardium is planning on going public in 2024, after it hopes to receive FDA approval in late 2023. The founders of Kardium have experience growing start-ups, having previously founded Creo Inc., which they sold to Eastman Kodak Company for US$980 million in 2005.
Smartphones have become integral to daily life, raising increasing apprehensions about their impact on attention, productivity and overall digital habits. As reliance on smartphones has grown, so has…
Developer Rockstar Games and publisher Take-Two Interactive recently opened pre-orders for Grand Theft Auto VI (“GTA 6”), marking the first franchise instalment in thirteen years. Since the launch of…
A new iOS app called Sniff is taking a different approach to social networking by connecting dog owners within the same neighbourhood. Rather than encouraging users to build broad online communities…
The fully autonomous ridesharing service, Waymo, is looking to add a new ridesharing option for Torontonians with self-driving vehicles. Waymo is a driverless taxi service where users can hail an…
Four years after Canada shut Huawei out of its 5G networks, one of its former subsidiaries is hoping for a second chance in the Canadian market. Honor Device Co., a Chinese consumer electronics…
Quantum computers have long been promised to reshape the leading edge of computing technology, facilitating machines capable of completing operations unthinkably time-intensive for classical computers…
