Kardium Inc. raised C$340 million (US$250 million) in an oversubscribed financing round to support commercialization of its Globe pulsed field ablation system for atrial fibrillation. Notably, the financing included an equity investment by an unnamed leading strategic investor. Kardium could receive U.S. FDA approval as early as this quarter and plans to launch Globe in the U.S. this year.
With strong one-year results from the PULSAR trial, Kardium Inc. could soon be jockeying for third place in the race for pulsed field ablation market share. Boston Scientific Corp. clearly won the roses, with Medtronic plc solidly positioned to place, but the show spot – previously called as a battle between Johnson & Johnson and Abbott Laboratories – could go to this Canadian dark horse.
The first economic modelling of Boston Scientific Corp.’s pulsed field ablation system in U.K.’s National Health Service showed that it is more cost-effective as a treatment for paroxysmal atrial fibrillation compared to standard cryoablation.
Kardium Inc. landed $104 million in new financing for its Globe mapping and ablation system for atrial fibrillation, positioning it to enter the rapidly changing field in the U.S. The funds will allow the company to finish its PULSAR trial, secure FDA approval and launch its pulsed field ablation system commercially, Kardium Chief Financial Officer Koert VandenEnden told BioWorld.
The pivotal ADVENT trial of the Farapulse pulsed field ablation (PFA) system developed by Boston Scientific Corp. returned positive results at one year, according to a presentation at the ESC Congress 2023 that was simultaneously published in the New England Journal of Medicine. The study compared Farapulse, a nonthermal treatment that ablates heart tissue, to radiofrequency or cryoablation, the current standards of care for paroxysmal atrial fibrillation.
TORONTO – Kardium Inc. has secured US$115 million in private money to accelerate commercial growth in Europe of a mapping and ablation system for atrial fibrillation (AF), and conduct a clinical study for FDA approval of the system. Led by Fidelity Management & Research Co. LLC, this funding tranche follows a US$40 million investment in Kardium in 2018 driven by T. Rowe Price Associates Inc., which also invested this time around.