Field Medical Secures $40 Million Series A Funding to Advance FieldForce PFA System for VT and AF Ablation

Field MedicalAnnounced the completion of its $40 million Series A financing. This round includes $20 million in new capital and $20 million in seed debt-to-equity conversion. Investors comprise multiple strategic investment institutions, venture capital firms, and family offices, with several seed investors participating in follow-on investments.

This round of financing is mainly used to support the completion of two prospective clinical studies (the VCAS study for VT and the Field PULSE study for atrial fibrillation AF), the continued development of the Field Medical commercial PFA system, and the operational expansion preparation for the VT pivotal trial VERITAS.

Executive Evaluation

"This round of financing marks a crucial step in our journey to reshape the way electrophysiologists perform ablation treatments. With the support of our investors, we are accelerating the development of the FieldForce ablation system, steadily advancing towards our commercial goal of 'expanding access to the next generation of PFA technology for cardiac ablation' through the accumulation of early clinical evidence."

---Steven Mickelsen  Founder and CEO of Field Medical

"The strong support shown by new investors and seed-round investors who have made additional investments has greatly encouraged us. This round of financing will help us efficiently execute our strategic plans and accelerate the transformation from early innovation to commercial implementation."

---Oskar Dadason  Field MedicalChief Financial Officer

Among arrhythmias, ventricular tachycardia (VT) and atrial fibrillation (AF) are two of the most common and serious types of arrhythmia diseases, which may lead to stroke, heart failure, sudden cardiac death, and drive up healthcare costs. In the United States and Europe, there are over 6 million patients with VT and premature ventricular contractions (PVCs), while AF affects approximately 2%-6% of the global population.

Currently, the market size for catheter ablation in atrial fibrillation is $5 billion and is expected to grow at a compound annual growth rate (CAGR) of 13-16%, surpassing $11 billion by 2034. In comparison, the global VT market (including devices and catheter ablation) was valued at approximately $12.5 billion in 2021 and is projected to grow at a CAGR of 5.26%, reaching $17 billion by 2027. Notably, the catheter ablation segment within the VT treatment market is expected to grow at an annual rate of up to 13% during the same period, reflecting the accelerating adoption of catheter-based interventions in VT management.

Field MedicalIt was created by a legendary figure in the PFA field.Created by Steven Mickelsen, it has been a star company in the electrophysiology field since its establishment. WithSteven Mickelsen's halo, and his unique understanding of PFA technology, enableField MedicalBecome the darling of capital.It completed its seed round and Series A financing in 2023 and this year, totaling $54 million.

With strong capital support,Field MedicalThe project is proceeding at a very fast pace.Field Medical has initiated targetingClinical research on VT and AF was conducted, with the first clinical enrollment completed last year. If things go smoothly, the clinical research could be finished this year. Meanwhile, its core productFieldForceAwarded FDA "Breakthrough Device" Designation.