Field Medical Secures $14 Million in Oversubscribed Seed Funding to Advance Next-Gen Pulsed Field Ablation Platform

Sep 20, 2023 00:01 CST Updated 00:01

Field Medical

Developer of Pulsed Electric Field Catheter Ablation Technology

Source of the article:Heart NotCome;Editor:Jacky

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Heart Future

On September 18, 2023, Field Medical, an emerging leader in the field of cardiac catheter ablation, announced the completion of an oversubscribed seed funding round, with a total investment of $14 million (approximately 100 million RMB).

# Field Medical Completes $14 Million Seed Financing Round

This financing was led by private investors, with multiple strategic investors also participating. The funds will support development activities from preclinical to clinical stages, including the planned first-in-human study in early 2024.

Field Medical is developing a second-generation pulsed field ablation (PFA) system targeting the $3.6 billion cardiac catheter ablation market, which is growing rapidly at a compound annual growth rate (CAGR) of 14%.Field Medical, Inc. was founded in 2022 by Steven Mickelsen, MD, a world-renowned PFA expert and practicing electrophysiologist.

▲Image SourceOfficial CompanyNetwork (the same below)

Before joining Field Medical, Dr. Mickelsen was the founder of FARAPULSE Inc. (the first-generation PFA), which was acquired by Boston Scientific for over $460 million in 2021.The core products of the company, namely the FieldForce™ catheter and FieldForce™ generator, both adopt the patented FieldBending™ technology.This technology represents a significant step forward in overcoming the limitations of the first-generation PFA technology, addressing a huge unmet need in arrhythmia treatment solutions while expanding the capabilities for treating complex ventricular arrhythmias.

Lead investor Tajar Varghese stated that Dr. Steven Mickelsen is a renowned cardiac electrophysiologist, hailed as the father of cardiac pulsed field ablation. He and the Field Medical team are poised to revolutionize the cardiac ablation market with the latest advancements in this technology, and I fully believe he can achieve this.

# The company focuses on innovative technologies in the PFA field

Field Medical was established just over a year ago with the goal of reshaping catheter ablation and applying insights gained from existing market technologies and the first generation of PFA. The lean startup environment has laid the foundation for pioneering tools, with applications covering indications such as paroxysmal atrial fibrillation. In this context, PFA is widely recognized for its safety and ability to enhance procedural speed, but its applications beyond the left atrium remain largely unexplored. PFA holds significant potential to unlock new market opportunities.

Field Medical CEO Dr. Steven Mickelsen stated, "At Field Medical, our goal is to become the industry leader in pulsed electric field catheter ablation by developing technologies that doctors need and that benefit patients. In today's uncertain investment climate, we are pleased to attract strong interest from investors and strategic partners. Field Medical's R&D team is at the forefront of our innovation, driving projects forward at an incredible pace."

▲Steven Mickelsen

Field Medical is expected to share preliminary clinical results by mid-2024. This milestone will enable the company to further advance, continue building the team, complete all necessary clinical pilot studies, and obtain regulatory approvals (CE Mark and FDA) through pivotal trials. Field Medical is poised to redefine pulsed field catheter ablation and ultimately achieve commercialization.

# Advantages of Pulsed Electric Field Ablation

Pulsed Field Ablation (PFA) utilizes multiple short-duration, high-voltage electrical pulses to deliver ablation energy, creating irreversible nanoscale pores on the cell membrane that lead to cell death. It can be used for catheter ablation in atrial fibrillation to achieve pulmonary vein isolation. Pulsed Field Ablation (PFA) therapy has made significant advancements in safety and procedural workflow, causing a major impact in the treatment of atrial fibrillation.

The principle of pulsed ablation is to disrupt the lipid bilayer through electroporation, increase cell membrane permeability, and lead to cell necrosis.

The effect of electroporation on local tissues is determined by pulse characteristics, including intensity, waveform, frequency, polarity, duration, number of pulses, and electric field direction. Electroporation with different field strengths can cause irreversible damage to different tissues. Myocardial cell damage may occur at 400 V/cm, while vascular smooth muscle and endothelial cell damage may require 1750 V/cm, and nerve damage may need a higher level of 3800 V/cm. This means that damage to vascular smooth muscle, endothelial cells, and nerve cells is less likely to occur, reducing harm to the coronary arteries, esophagus, and phrenic nerve during atrial fibrillation ablation, which is also the advantage of pulsed-field ablation.

# About Field Medical

Field Medical is an innovative company focused on the field of pulsed electric field catheter ablation. Founded by Dr. Steven Mickelsen in 2022, the company is developing a patented technology called FieldBending, which aims to concentrate therapeutic effects and reduce harmful far-field effects associated with first-generation PFA technology. Field Medical intends to expand the indications for pulsed field ablation (PFA) beyond atrial fibrillation treatment by addressing more challenging ventricular arrhythmias and common procedures such as supraventricular tachycardia (SVT), which requires minimal sedation.

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