Kardium, a Vancouver, British Columbia-based developer of the Globe Mapping and Ablation System has raised $ 115M in new financing round.
The round is led by Fidelity Management & Research Company LLC., together with follow-on participation by funds and accounts advised by T. Rowe Price Associates, Inc.
The company intends to use the new financing to accelerate
commercial growth of the Globe System across Europe and to conduct
a clinical study for US Food and Drug Administration (FDA) approval
of the Globe System.
Kardium Inc. is a rapidly growing medical solutions company that has developed an advanced system for the treatment of atrial fibrillation (AF), which affects more than 37 million people worldwide.
Kardium is creating a new ground-breaking cardiovascular device for the treatment and diagnosis of atrial flutter. The Globe method is an innovative, non-invasive, transcutaneous electro-mechanical catheter, powered by sophisticated software, designed and developed by the Kardium Group in Vancouver, Canada.
“We are tremendously excited to have Fidelity Management & Research Company join Kardium as a major investor, along with the T. Rowe Price funds,” said Kevin Chaplin, CEO of Kardium.
“Their enthusiasm and support reflect the incredible success we have achieved with the Globe System and reflect the potential we have to dramatically improve the treatment of atrial fibrillation for millions of patients worldwide. This financial backing now allows us to accelerate commercial sales in Europe and begin the FDA study for the Globe System.”
Using catheterized infrared scanning and a computerized patient portal, the system allows for the quick assessment and quick referral to a more experienced cardiologist, without a lengthy and potentially costly phone call. Traditional methods of patient referral, where a patient had to make several phone calls, to their own cardiologist before receiving care, are no longer necessary with the new technology provided by Kardium.
It is also important to note that because of the mapping that takes place with the use of the new medical device from Kardium, there is the potential to provide the patient with more comfort and ease when they are undergoing their treatments.
There are several ongoing clinical studies in Europe right now using Kardium in the treatment of arrhythmias and pericarditis. As a company, Kardium has received both government funding and private funding for the research that they are involved with. This money has allowed them to create twenty-four clinical studies in Europe that are currently underway and which are focused on the use of kardium for the treatment of heart conditions.
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