The Burnaby-based firm secured financing from U.S. funders Fidelity Investments and T. Rowe Price Associates. (The Logic)

Talking point: The investment round brings the company’s total funding to US$215 million to date. Kardium plans to begin clinical trials in the U.S. this year for its device meant to treat atrial fibrillation (AF), a common irregular-heartbeat disorder. The market for treating AF is worth an estimated US$6 billion, and is expected to grow 15 per cent a year as the global population ages. Kardium’s funding boost follows a strong year for Canadian medtech firms, which saw an increase in venture capital funding in 2020. Kardium’s device was approved for sale in Europe in June 2020; it hopes to get regulatory approval from the U.S. Food and Drug Administration in 2023, and plans to list on the public markets the following year.