Adagio Medical

Adagio Medical Holdings (NASDAQ: ADGM) is a Laguna Hills, California-based medical device company developing and commercializing ultra-low temperature ablation (ULTA) cryoablation systems for cardiac arrhythmias, founded in 2011 by Olav Bergheim. Its portfolio includes the iCLAS atrial ULTA catheter, the vCLAS ventricular ULTA catheter, and Cryopulse pulsed-field cryoablation catheters. On August 3, 2026 the company treated its first patient with the next-generation vCLAS Ultra system — a single-freeze design delivering ablations at approximately -170°C with preclinical data suggesting 50-75% shorter ablation times — under FDA Expanded Access authorization at the Hospital of the University of Pennsylvania, and announced FDA approval to expand its FULCRUM-VT investigational device exemption trial to the next-generation system. Adagio has raised $72.1M from investors including RA Capital Management, Perceptive Advisors, and ArrowMark Partners. On September 23, 2026 the company disclosed a plan to extend its capital resources, cutting 25 of 43 full-time employees, and said it had initiated a process to explore a full range of strategic alternatives, alongside a reduction of the conversion price on its 13% senior secured convertible notes through October 31, 2026.