Field Medical, Inc. Announces Oversubscribed Seed Round to Advance Next-Generation Cardiac Ablation Technology USA - English USA - English
The Californer/10254396

CARDIFF ~ Field Medical, Inc., an emerging leader in cardiac catheter ablation, has closed its oversubscribed seed round with investments totaling $14M. The convertible note funding was led by private investors and joined by multiple strategic investors. This financing will support preclinical-to-clinical development activities including first-in-human studies planned for early 2024.

Field Medical is developing a second-generation pulse field ablation (PFA) system for the $3.6B cardiac catheter ablation market – a market rapidly accelerating at 14% CAGR. The company was founded in 2022 by world recognized expert in PFA and practicing electrophysiologist Dr. Steven Mickelsen, who previously founded FARAPULSE Inc., which was acquired by Boston Scientific for $460M+ in 2021. Field Medical's core products – the FieldForce™ Catheter and the FieldForce™ Generator – use proprietary technology called FieldBending™ to overcome limitations of first-generation PFA technologies and address a huge unmet need to treat any cardiac arrhythmia while expanding capabilities to also treat complex ventricular arrhythmias.

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Lead investor Tajar Varghese commented on Dr. Mickelsen's expertise: "Dr. Steven Mickelsen is a renown cardiac electrophysiologist and is known as the father of cardiac pulse field ablation...I fully believe they will do just that."

Field Medical was launched with a goal of reinventing catheter ablation and applying the insights learned from established market technologies and emerging first generation PFA to open up new market opportunities where current state-of-the-art and emerging PFA technology is lacking.

Dr. Steven Mickelsen, CEO of Field Medical, expressed his gratitude for the strong attention from the investor community and strategic partners: "At Field Medical our goal is to be the industry leader in pulsed field catheter ablation by building technology that physicians need and patients deserve...I credit the talented team at Field Medical for forming the vanguard of our innovation and moving the project forward at an incredible pace."

Field Medical anticipates sharing preliminary clinical results in mid-2024 as they continue to build out their team, finish all necessary clinical pilot studies, and secure regulatory approvals (CE Mark and FDA) through pivotal trials with an aim to redefine pulsed field catheter ablation culminating in future commercialization.

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