Vancouver-area company Kardium Inc. has successfully raised $340 million from investors, including Janus Henderson Investors and Qatar Investment Authority, to advance its pulsed field ablation (PFA) device for treating atrial fibrillation. The funding will support preparations for anticipated U.S. FDA approval this year, market entry, and expansion of manufacturing in Burnaby, B.C., with plans for a potential IPO in 2026.
Kardium raises $340-million as B.C. heart device maker prepares for FDA approval, market entry
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TL;DR: Key points with love ❤️Vancouver-area company Kardium Inc. has successfully raised $340 million from investors, including Janus Henderson Investors and Qatar Investment Authority, to advance its pulsed field ablation (PFA) device for treating atrial fibrillation. The funding will support preparations for anticipated U.S. FDA approval this year, market entry, and expansion of manufacturing in Burnaby, B.C., with plans for a potential IPO in 2026.
Trending- 1 2008: Kardium established.
- 2 2017: Kardium began human trials.
- 3 2021: Kardium shifted to Pulsed Field Ablation (PFA) approach.
- 4 2024: Boston Scientific Corp. won FDA approval for its PFA device.
- 5 April 2025: Kardium published results from a study of 183 patients.
- 6 July 2, 2025 (Wednesday): Kardium's $340 million funding deal announced.
- 7 2025: Kardium expects Class 3 medical device approval from U.S. FDA.
- 8 After FDA approval: Kardium will seek approval from health authorities in Canada and Europe.
- 9 2026: Kardium aims to go public.
- Significant capital for Kardium's growth
- Potential for a new, more effective treatment for atrial fibrillation
- Expansion of manufacturing and job creation in B.C.
- Potential for IPO or acquisition
What: Kardium Inc., a Vancouver-area company, raised $340 million in funding.
When: Deal announced Wednesday (July 2, 2025). FDA approval expected this year (2025). Boston Scientific Corp. FDA approval in 2024. Kardium shifted to PFA in 2021. Study results published in April (2025). Kardium established in 2008. Human trials began nine years after founding (2017). IPO aimed for 2026.
Where: Vancouver-area, Burnaby, B.C. (manufacturing), U.S. (FDA approval, market), Canada, Europe (future approvals).
Why: To prepare for FDA approval and market entry of its PFA device, expand manufacturing, hire more staff, and potentially go public.
How: Through a significant funding round led by multiple investment firms and sovereign wealth funds.