PFA market heats up as medtech companies announce new investments
Two different medical device companies focused on pulsed field ablation (PFA) technology have kicked off July by announcing oversubscribed funding rounds.
Kardium ‘energized’ after raising $250M
Kardium, the Canadian medtech company behind the Globe Pulsed Field Mapping and Ablation System for patients with atrial fibrillation (AFib), raised $250 million from a mix of new and existing investors. The Globe System features an advanced catheter with a 122-electrode array. Common ablation targets include the pulmonary veins, posterior walls and mitral isthmuses.
The company plans on using the new funds to seek regulatory approvals from the U.S. Food and Drug Administration and other regulatory agencies, expand its manufacturing and production capabilities and hire additional employees.
“We’re thrilled to have secured this transformational financing with a world-class syndicate of investors,” Kevin Chaplin, CEO of Kardium, said in a statement. “This funding enables us to move ahead with the commercial launch of the Globe System by expanding our manufacturing capabilities and building a strong commercial team. Everyone at Kardium is energized by the opportunity to bring the Globe System to market and help improve the lives of millions of patients worldwide suffering from atrial fibrillation.”
Images of the Globe Pulsed Field System courtesy of Kardium.
According to one analysis published in 2024, the technology was linked to success rates of 100% for pulmonary vein isolation, 100% for the posterior walls and 91% for the mitral isthmuses. Mean pulse delivery time, left atrial catheter dwell time, fluoroscopy time and procedure time were 61.5 seconds, 53.9 minutes, 5.3 minutes and 87.8 minutes, respectively.
“The Globe System achieved outstanding freedom from atrial arrhythmia in both Paroxysmal and Persistent patients, with no device- or procedure-related major adverse events,” veteran researcher Vivek Reddy, MD, director of cardiac arrhythmia service with The Mount Sinai Hospital in New York City, said at the time. “These outcomes underscore the tremendous potential of the Globe System in advancing AFib treatment and improving patient outcomes.”
Kardium raised $104 million in new financing back in June 2024.
Field Medical raises $35M to ramp up research
California-based Field Medical completed an oversubscribed round of its own, receiving $35 million from investors. The company’s proprietary PFA technology, the FieldForce Ablation System, includes a high-voltage focal PFA catheter designed to deliver pulses in a fraction of a second and treat a variety of cardiac arrhythmias. One area Field Medical has been focused on thus far has been the treatment of patients with scar-related ventricular tachycardia (VT).
Images of the FieldForce Ablation System courtesy of Field Medical.
The company plans on using the financial support to further research the safety and effectiveness of its FieldForce technology. In addition, some funds will go toward the expansion of its clinical and regulatory capabilities.
"VT is among the most underpenetrated segments in electrophysiology, yet physicians still lack the tools they need," Steven Mickelsen, MD, founder and CEO of Field Medical, said in a statement. “What is exciting is how VT is mirroring the early days of the AF market, strong clinical demand unmet by existing technology. We are poised to unlock this opportunity with our next-generation therapy built for speed, precision and real clinical progress, advancing toward pivotal readiness and redefining what is possible in VT care for high-risk patients.”
“This round reflects the momentum building behind Field Medical, not only from our clinical results, but also from the strength of our business fundamentals,” added Oskar Dadason, chief financial officer of Field Medical. “Our strong showing at HRS attracted institutional investor interest and reinforced continued support from existing investors, speaking volumes about the confidence in our technology, strategy and leadership.”
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.