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Adagio Medical Holdings, Inc. (Nasdaq: ADGM), a leader in catheter ablation technologies for cardiac arrhythmias, has provided a business update highlighting significant milestones. The company has obtained CE Mark approval and initiated the commercial launch of its vCLAS™ catheter and ultra-low temperature cryoablation (ULTC) system for ventricular tachycardia (VT) treatment in Europe. Additionally, Adagio has received FDA approval for the FULCRUM-VT Pivotal IDE study in the US, with patient enrollment expected to begin in September.
The company recently closed a business combination with ARYA Sciences Acquisition Corp IV, resulting in its listing on the Nasdaq Capital Market under the ticker symbol 'ADGM'. This transaction, along with concurrent financings, raised approximately $84.2 million, leaving the company with a proforma cash-on-hand of about $35 million after closing.
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