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.

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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
IR@catheterprecision.com

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