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Field Medical's Major Milestone in Cardiac Technology

Overview
Field Medical Inc., a leading innovator in cardiac pulsed field ablation (PFA) technology, has recently announced a significant achievement in its journey, successfully closing a $40 million Series A financing round. This funding aims to enhance its pioneering efforts in redefining how physicians approach the treatment of ventricular tachycardia (VT) and broader arrhythmias.

Details of the Financing

The financing round comprises $20 million in new capital alongside the conversion of $20 million from previous seed-stage debt. Notable participants in this funding include several strategic investors, venture capital firms, and family offices, along with multiple seed investors who have chosen to reinvest. This move reflects strong confidence in Field Medical's focus on improving patient care in VT, showcasing the versatility of its groundbreaking technology.

Objectives and Goals

The funds raised from this financing will facilitate the completion of two pilot studies: VCAS aimed at VT and Field PULSE for atrial fibrillation (AF). Additionally, it will support the ongoing development of the company’s commercial PFA system and operational scaling necessary for the upcoming VERITAS trial, intended to be pivotal for VT treatment strategies.

Steven Mickelsen, M.D., the founder and CEO of Field Medical, remarked, “This financing is a pivotal milestone as we advance in redefining how electrophysiologists approach ablation therapy.” He emphasized the importance of this funding for accelerating the development of the FieldForce™ Ablation System, which is based on early clinical evidence, with the goal of improving access to next-generation PFA solutions for cardiac ablation.

Technological Innovations

The FieldForce Ablation System is designed to deliver rapid ablation workflows, conducting therapy in a fraction of a second. Recent results from the pilot studies for VT and AF indicate its advanced capabilities. The technology, characterized by its use of brief, high-intensity electric fields powered by a proprietary system known as FieldBending™, is anticipated to provide a comprehensive solution for managing an array of cardiac arrhythmias.

A Rising Need for Cardiac Treatment

The prevalence of VT and AF is alarming, with more than 6 million individuals in the U.S. and Europe affected by VT. AF, meanwhile, impacts around 2% to 6% of the global population. The catheter ablation market for AF was valued at $5 billion and is projected to grow substantially in the next decade. The potential for similar growth in the VT market, which is already valued at $12.5 billion, illustrates the urgency for innovative solutions that Field Medical aims to provide.

Looking Ahead

Field Medical, founded in 2022, is well-positioned to play a crucial role in addressing modern cardiac ablation needs. The company has already received recognition from the FDA as a Breakthrough Device, thanks to its advanced technologies. The coming years will be pivotal for Field Medical as it not only seeks to solidify its place in the cardiac healthcare landscape but also enhance the quality of life for millions suffering from arrhythmias.

For those interested in more details regarding Field Medical and its innovative technology, please visit www.fieldmedicalinc.com and follow their updates on LinkedIn and X.