Catheter Precision, Inc. Forms new Joint Venture Called Kardionav to Exploit patented AI Techniques to Create New VT Software platform
Rhea-AI Summary
Catheter Precision (NYSE:VTAK) has announced the formation of a new joint venture called Kardionav to develop advanced AI-powered software for ventricular tachycardia (VT) ablation. The venture combines VTAK's expertise with Chelak iECG to enhance VT treatment outcomes through improved mapping technology.
The ownership structure allocates 56% to VTAK, 33% to Chelak iECG, and 10% to management. Dr. Jie Cheng, founder of Chelak iECG and Clinical Professor at Baylor College of Medicine, will serve as the primary researcher, bringing significant AI and arrhythmia localization expertise to the venture.
The joint venture aims to develop a standalone ventricular mapping system that will integrate vector technology with imaging of conduction channels and velocity calculations. This next-generation technology builds upon VTAK's existing VIVO platform and seeks to address current limitations in VT ablation procedures, including lengthy procedure times and imprecise ablation site targeting.
Positive
- None.
Negative
- Current VT ablation procedures have significant limitations including lengthy times and poor outcomes
- Existing treatments often result in declined ventricular function without curing VT
News Market Reaction – VTAK
In the trading session that priced this news, VTAK gained 1.98%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
New AI techniques to add to VT ablation tools
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
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.
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CONTACTS:
At the Company
Investor Relations
973-691-2000
IR@catheterprecision.com
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