Doha: Qatar Investment Authority (QIA) has announced a significant investment in Kardium Inc., a healthcare innovator known for developing the Globe® Pulsed Field System, a novel treatment for atrial fibrillation (AF).
According to Qatar News Agency, Kardium Inc. successfully raised USD 250 million in a recent financing round. QIA spearheaded the initiative alongside new investors such as Janus Henderson Investors, MM Capital, Piper Heartland Healthcare Capital, Eventide Asset Management, and Eckuity Capital. Existing investors, including funds and accounts advised by T. Rowe Price Associates, Inc., T. Rowe Price Investment Management, Inc., and Durable Capital Partners LP, also took part. The funding round is further bolstered by an equity investment from a key strategic investor.
Kevin Chaplin, CEO of Kardium, expressed enthusiasm over this substantial financial backing, stating that it will facilitate the commercial launch of the Globe System. This initiative includes scaling up manufacturing capabilities and reinforcing their commercial team, with the ultimate goal of improving the lives of millions of patients suffering from atrial fibrillation globally.
The Globe System has shown promising results in clinical trials. The PULSAR clinical study revealed a 78% freedom from atrial arrhythmia in paroxysmal AF patients at one year, with no device-related primary safety events reported. This funding will support Kardium in obtaining regulatory approvals, enhancing manufacturing facilities, and establishing a clinical support and commercial team ahead of the anticipated market launch later this year.
The Globe Pulsed Field System is a cutting-edge catheter comprising a 122-electrode array and advanced software, capable of rapid pulmonary vein isolation, high-definition mapping, and comprehensive atrium ablation using a single catheter.
Founded in 2007 and based in Vancouver, Canada, Kardium Inc. is a fast-growing, privately held medical solutions company. The company has been recognized as a top employer in British Columbia, owing to its innovative approach and outstanding team dedicated to developing the Globe System.