Field Medical announced today that it closed a Series B funding round worth proceeds totaling $35 million.
BioStar Capital and Cue Growth led the round, which had participation from existing strategic investors, too. This funding adds to a $40 million Series A brought in earlier this year and brings the Cardiff-by-the-Sea, California-based company’s total funding to $75 million to date. The company expects its Series B to support the initiation of a pivotal trial as it advances the FieldForce ablation system.
The FieldForce pulsed field ablation (PFA) system features the first built-for-purpose, contact force, focal PFA catheter. It enables an instantaneous ablation workflow. The company received FDA breakthrough device designation for FieldForce in December 2024.
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Field Medical was founded by Dr. Steven Mickelsen, the founder of Farapulse. Mickelsen also serves as CEO. He led his previous PFA technology developer to an acquisition by Boston Scientific in 2021. Boston Scientific, Medtronic and Johnson & Johnson MedTech currently market FDA-cleared PFA technology. However, Field Medical has an initial focus on ventricular tachycardia (VT). This is a different path to the previously mentioned PFA technology developers, who brought their platforms to market to initially treat AFib.
“Ventricular tachycardia is among the most underpenetrated segments in electrophysiology, yet physicians still lack the tools they need,” said Mickelsen. “What is exciting is how VT is mirroring the early days of the AF market, strong clinical demand unmet by existing technology. We are poised to unlock this opportunity with our next-generation therapy built for speed, precision and real clinical progress, advancing toward pivotal readiness and redefining what is possible in VT care for high-risk patients.”
