Raised Funds of $250 Million for the Introduction of Atrial Fibrillation Therapy by Kardium
In a groundbreaking development, Kardium, a pioneering medical technology company, has secured $250 million in a recent funding round. This investment is set to propel the global launch and expansion of Kardium's innovative Globe® Pulsed Field System for treating Atrial Fibrillation (AF).
The funds will be strategically deployed across several key areas. A significant portion will be allocated to pursuing regulatory approvals for the Globe System, a critical step for commercial availability in major markets such as the United States and internationally.
The investment will also expand production capacity and enhance manufacturing facilities to meet anticipated market demand following the commercial launch. Kardium plans to build a robust commercial team and provide clinical support to ensure successful market entry and customer adoption.
The funding will further support ongoing and future clinical trials, including research into additional applications for the Globe System and expansion into new therapeutic areas. The company is preparing for the official commercial launch of the Globe System later this year, with the financing ensuring readiness across all operational and commercial fronts.
The Globe Pulsed Field System features a catheter with a 122-electrode array and advanced software for rapid pulmonary vein isolation, high-definition mapping, and atrial ablation. Notably, recent data from the PULSAR study showed a 78% freedom rate from atrial arrhythmia after one year in paroxysmal AF patients, and no device-related safety events were reported.
Janus Henderson Investors and the Qatar Investment Authority led the financing round, with T. Rowe Price also participating. Janus Henderson Investors, in particular, have expressed optimism about the potential of the Globe System to improve the lives of patients with atrial fibrillation. They are proud to support the introduction of Kardium's groundbreaking technology to the market.
Kevin Chaplin, CEO of Kardium, expresses enthusiasm about bringing the Globe System to market. He believes that this investment will enable Kardium to scale up operations, secure regulatory clearance, and establish a strong market presence for the Globe Pulsed Field System, ultimately aiming to improve outcomes for millions of patients with atrial fibrillation.
The Globe System is considered a disruptive innovation by Janus Henderson Investors, and its potential to revolutionize AF treatment is generating widespread interest in the medical community. With this significant investment, Kardium is poised to make a significant impact on the lives of millions of patients worldwide suffering from atrial fibrillation.
The funds from the recent investment will be utilized to pursue regulatory approvals for the Globe System, with the goal of commercial availability in major markets like the United States and internationally. Additionally, the investment will be used to expand production capacity, enhance manufacturing facilities, and support ongoing and future clinical trials, particularly for researching additional medical applications and expanding into new therapeutic areas related to health-and-wellness, cardiovascular-health, and medical-conditions such as Atrial Fibrillation (AF).
