Canadian Medical solutions company Kardium has secured $104m in a financing round for its Globe mapping and ablation system, which is designed to treat atrial fibrillation.

Existing investor Fidelity Management & Research Company led the funding round with additional funds from T Rowe Price Associates and T Rowe Price Investment Management, along with new investor Durable Capital Partners.

Kardium’s Globe mapping and ablation system is poised to transform how common cardiac arrhythmia is managed.

The system comprises a single catheter, equipped with a 122-electrode array and advanced software, enabling rapid pulmonary vein isolation, high-definition mapping and atrial ablation.

This investment will enable Kardium to complete its PULSAR clinical study of the system, aimed at securing regulatory approvals.

Kardium will also use the funding to bolster its production team and capacity and establish a clinical support and commercial team to prepare for launching the Globe system commercially.

Last month, the company reported positive one-year outcomes from the PULSE-EU trial of the system.

Data revealed that 84.2% of patients with paroxysmal atrial fibrillation and 80% with persistent atrial fibrillation remained free from atrial arrhythmia one-year post-treatment.

Kardium CEO Kevin Chaplin said: “We are very excited to have the continued support of existing investors and welcome Durable Capital Partners to this round.

“Their enthusiasm and support reflect the incredible success we have achieved with the Globe system and the tremendous potential we have to dramatically improve the treatment of atrial fibrillation for millions of patients worldwide.”