Catheter Precision forms Kardionav joint venture with Chelak iECG to enhance ventricular tachycardia ablation technology and outcomes.
Quiver AI Summary
Catheter Precision, Inc. has formed a joint venture named Kardionav with Chelak iECG, Inc. to develop advanced technologies aimed at improving ablation procedures for ventricular tachycardia. Catheter Precision will hold about 56% ownership in the venture, with Chelak iECG owning 33% and management holding the remaining 10%. Dr. Jie Cheng, founder of Chelak iECG and an experienced cardiac electrophysiologist, will serve as the primary researcher for the project. The joint venture aims to leverage AI and innovative mapping techniques to enhance the precision of ablation procedures, reduce treatment times, and ultimately improve patient outcomes. David Jenkins, CEO of Catheter Precision, expressed enthusiasm for the partnership, highlighting its potential to enhance current ablation technologies by providing better site localization and improved treatment effectiveness.
Potential Positives
- Formation of a joint venture, Kardionav, to advance technology in ablation for ventricular tachycardia, indicating strategic growth and collaboration.
- Approximately 56% ownership of Kardionav by Catheter Precision, providing significant control and potential financial benefit from the venture.
- Involvement of Dr. Jie Cheng, a prominent figure in cardiac electrophysiology, highlighting the expertise and research backing the new technology.
- A focus on improving patient outcomes and shortening treatment times for ventricular tachycardia through innovative mapping technology, positioning the company as a leader in the cardiac electrophysiology market.
Potential Negatives
- The joint venture may increase operational complexity and financial risk, as both companies will need to align their strategies and resources effectively.
- Potential for dilution of control, as management only owns 10% of the new venture, which may lead to decision-making challenges.
- Forward-looking statements indicate uncertainties and risks that could lead to unfavorable outcomes, which could impact investor confidence.
FAQ
What is the purpose of the Kardionav joint venture?
The Kardionav joint venture aims to develop advanced technology for ablation procedures in ventricular tachycardia.
Who are the partners in the Kardionav venture?
The joint venture is a collaboration between Catheter Precision, Inc. and Chelak iECG, Inc.
What role does Dr. Jie Cheng have in Kardionav?
Dr. Jie Cheng is the president and founder of Chelak iECG and serves as the primary researcher for the venture.
How will Kardionav impact ventricular tachycardia treatment?
Kardionav aims to enhance patient outcomes by locating ventricular arrhythmias more precisely, reducing procedure times.
What technology will Kardionav develop?
Kardionav will work on a standalone ventricular mapping system integrated with advanced imaging and conduction velocity calculations.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
FORT MILL, S.C., June 30, 2025 (GLOBE NEWSWIRE) -- Catheter Precision, Inc. (VTAK - NYSE/American), a US based medical device company focused on developing technologically advanced products for the cardiac electrophysiology market today announced that it has formed a joint venture, named Kardionav, to pursue the latest in technology surrounding the area of ablation for ventricular tachycardia. The venture is a joint development company between VTAK and Chelak iECG, Inc., whereby both companies will contribute intellectual property and know-how. VTAK will own approximately 56% of the enterprise, Chelak iECG will own 33%, and management will have 10% ownership.
Jie Cheng, PhD, MD, is the president and founder of Chelak iECG, and will contribute to the venture as the primary researcher. Dr. Cheng commented, “We have some significant research and IP around AI and pinpointing the exact location of ventricular arrhythmias to enhance patient outcomes in ventricular ablation. Our desire is to bring technology into a standalone Ventricular mapping system, with the goal to shorten treatment procedure times with better outcomes. VT is not well treated today, and we believe that Kardionav can change that. This joint venture will allow us to combine resources and expedite technological development.”
Dr. Cheng is a practicing cardiac electrophysiologist and engineer. He holds a PhD in Biomedical Engineering from Case Western Reserve University, and has medical training at Mt. Sinai Medical Center, Case Western Reserve University, University of Chicago, and the University of California at San Francisco. He currently holds the position of Clinical Professor of Medicine at Baylor College of Medicine, and President and Medical Director of Texas Heart Rhythm Center, and is Senior Research Scientist and Director of the Electrophysiology Research Laboratory at the Texas Heart Institute in Houston, Texas.
David Jenkins, CEO of Catheter Precision, commented on the new venture, “We could not be more excited about the opportunity that Kardionav brings to us. This will be the next generation of our VIVO technology and will combine vector technology with additional inputs for the physician including imaging of channels of conduction and calculation of velocity of conduction. Today’s ablation techniques in the ventricle leave much to be desired. Procedures are lengthy, the patients are put in and out of VT for long periods of time, the site of ablation is not well defined, and, as a result, the method of “carpet bombing” without great outcomes, and often, resulting in a decline of ventricular function, while not curing the VT, are all parameters of VT ablation today. Other companies are developing improved VT specific ablation catheters, but without the precise localization to be provided by Kardionav, the advanced catheters do little to bring about better patient outcomes and growth in this new segment of EP.”
About Catheter Precision
Catheter Precision is an innovative U.S.-based medical device company bringing new solutions to market to improve the treatment of cardiac arrhythmias. It is focused on developing groundbreaking technology for electrophysiology procedures by collaborating with physicians and continuously advancing its products.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to substantial risk and uncertainties. Forward-looking statements can be identified by words such as “believe,” “anticipate,” “may,” “might,” “can,” “could,” “continue,” “depends,” “expect,” “expand,” “forecast,” “intend,” “predict,” “plan,” “rely,” “should,” “will,” “may,” “seek,” or the negative of these terms and other similar expressions, although not all forward-looking statements contain these words. These forward-looking statements include, but are not limited to, statements regarding product evaluations at the hospital, and that the purchase order indicates that the hospital and its staff see the value and benefits that LockeT can bring and expectations regarding LockeT evaluations in the coming weeks. The Company’s expectations and beliefs regarding these matters may not materialize. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks and changes in circumstances, including but not limited to risks and uncertainties included under the caption “Risk Factors” in the Company’s Form 10-K filed with the SEC and available at www.sec.gov.
The forward-looking statements included in this communication are made only as of the date hereof. The Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
CONTACTS:
At the Company
Investor Relations
973-691-2000
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