Field Medical closed a Series A financing round worth $40 million to support its pulsed field ablation (PFA) technology.
Cardiff-by-the-Sea, California–based 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.
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The latest funding for Field Medical includes $20 million in new capital and the conversion of $20 million in seed round debt. Participants included leading strategics, venture capital firms and family offices, with multiple seed investors reinvesting. Funds underscore confidence in the company’s initial focus on ventricular tachycardia (VT), according to a news release. This is a different path to the previously mentioned PFA technology developers, which brought their platforms to market to initially treat AFib.
Funds support the completion of two studies. One evaluates VCAS for VT, and one looks at Field Pulse for AFib. Money can also help the company develop its commercial PFA system and scale up in preparation for the VERITAS trial focused on VT.
Field Medical’s FieldForce ablation 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.
“This financing is a pivotal milestone as we advance in redefining how electrophysiologists approach ablation therapy,” Mickelsen said. “With the support of our investors, we are accelerating the development of the FieldForce ablation system, building on early clinical evidence, and moving closer to our commercial goal of expanding access to next-generation PFA solutions for cardiac ablation.”
