#USA #Ventricular Tachycardia #Cardiff-by-the-Sea #Field Medical #Ablation Technology

Field Medical Inc. Makes Major Strides in Cardiac Care

In a significant development for cardiac health technologies, Field Medical Inc. has successfully closed a Series A funding round, raising $40 million. This investment will bolster the company's pioneering efforts in pulsed-field ablation (PFA), a cutting-edge approach aimed at treating ventricular tachycardia (VT). The funding comprises $20 million in new capital along with $20 million converted from seed-stage debt, highlighting robust investor confidence in the company's innovative strategies and technologies.

Among the participants are leading strategic firms, venture capital investors, and family offices, reaffirming a strong belief in Field Medical's mission. The investment aims to propel the company through its current pilot studies, specifically the VCAS trial focused on VT and the Field PULSE trial targeting atrial fibrillation (AF). These studies are critical as they will provide the data necessary for the company's upcoming pivotal clinical trial, VERITAS, which is central to their market entry strategy.

Dr. Steven Mickelsen, the founder and CEO of Field Medical, stated, "This funding marks a pivotal moment as we redefine how electrophysiologists approach ablation therapy. With our investors' support, we are accelerating the development of our FieldForce™ ablation system, drawing on initial clinical evidence while moving closer to our commercial goal of expanding access to advanced PFA solutions for cardiac ablation."

Field Medical is committed to developing innovative technologies designed to address diverse cardiac arrhythmias, including both VT and AF. Its FieldForce system, featuring a uniquely designed contact force catheter for PFA, enables instantaneous ablation workflows, providing therapy delivery in mere fractions of a second. Preliminary results from the aforementioned pilot studies show promising versatility and efficacy of the system, which utilizes FieldBending™, the company’s proprietary technology that delivers high-intensity, brief electric fields.

In a statement reflecting the positive investor sentiment, CFO Oskar Dadason remarked, "We are encouraged by the solid support from both new and existing seed investors. This funding empowers us to execute our strategic plan promptly and with focus as we transition from early-stage innovation to commercial readiness."

Field Medical was established in 2022 and aims to transform heart ablation therapies with groundbreaking PFA technologies. With Dr. Mickelsen at the helm, a pioneer in pulsed electric field technology, the company builds on significant foundational work established in this area. In 2024, Field Medical's pioneering technology received the FDA's Innovative Device Designation and was included in the TAP Pilot Program, marking important milestones in their journey.

The Rising Incidence of Ventricular Tachycardia and Atrial Fibrillation

VT and AF are among the most common and severe forms of cardiac arrhythmias, leading to various cardiovascular complications, including stroke, heart failure, sudden cardiac death, and growing healthcare costs. In the United States and Europe alone, over six million people suffer from VT and premature ventricular contractions (PVCs), while AF affects roughly 2% to 6% of the global population.

Currently, the catheter ablation market for AF stands at approximately $5 billion, expected to expand at a compound annual growth rate (CAGR) of 13% to 16%, potentially exceeding $11 billion by 2034. Comparatively, the global VT market, which encompasses devices and catheter ablation systems, was valued at around $12.5 billion in 2021, with projections indicating a CAGR of 5.26%, reaching approximately $17 billion by 2027. Notably, the catheter ablation segment within the VT treatment market is anticipated to witness an accelerated growth rate of 13% per annum, signifying an increasing adoption of catheter interventions for VT management.

For more details, please visit Field Medical's website and follow us on LinkedIn and X. The FieldForce™ ablation system is classified as an investigative device and its use is limited by U.S. federal law to investigational purposes only.