Kardium secures new financing

Kardium Inc., the Richmond, BC based developer of ground-breaking medical device for the diagnosis and treatment of atrial fibrillation, raised $20.27 million in Series 4 Class D Preferred Shares offering on June 6, 2017.

The names of the investors were not disclosed. The Series 4 Class D was led by 5 Ontario investors ($10.80 million), 1 UK investor ($2.68 million) and 47 BC investors ($5.78 million). Private investors from Alberta, Saskatchewan, Manitoba, Panama, Poland, Switzerland and BVI also participated in the financing.

Kardium’s major shareholders include Ian Ihnatowycz’ First Generation Capital, and single purpose vehicles, Kardium Investments (VCC) I-V inc. Vanedge Capital Managing Partner Paul Lee’s personal investment company, VPL Ventures (VCC) Inc. is also an investor of the company.

Kardium has raised $1.5 million in Series 3 Class D and $8.54 million in convertible debentures (into Series 3 shares).

photo credit: Kardium