Field Medical Closes $35 Million Series B Funding
Field Medical, Inc., a leader in next-generation cardiac ablation technology, has successfully closed a $35 million Series B financing round. This funding was co-led by BioStar Capital and Cue Growth, alongside contributions from existing strategic investors. The financial boost marks a significant step towards advancing the development of the FieldForce™ Ablation System and preparing for pivotal clinical trials as the company aims to expand treatment options for ventricular tachycardia (VT).
Investment Highlights and Objectives
The capital raised will facilitate the initiation of the pivotal VERITAS trial, support the further enhancement of the FieldForce Ablation System, and bolster Field Medical's clinical and regulatory framework. The impetus for this funding round was largely driven by strong pilot results that were presented at a recent industry meeting, which energized investor interest. With the Series B round, Field Medical has garnered a total of $75 million in capital, positioning itself as a frontrunner in pulsed field ablation innovation.
Leadership Insights on Future Directions
Steven Mickelsen, MD, the founder and CEO of Field Medical, highlighted the urgency and potential in VT treatment. "Ventricular tachycardia presents a significant gap in electrophysiology, where there is a pressing need for advanced solutions. Our next-generation therapy aims to address these needs with unparalleled speed and precision, paving the way for groundbreaking changes in how VT is managed for high-risk patients," he stated.
Louis Cannon, MD, from BioStar Capital, expressed excitement over Field Medical's innovative approach to addressing challenges within cardiology. He noted, "Field Medical’s physician-led team is uniquely positioned to transform VT treatment, leveraging their advanced technology and insights into physician needs." This partnership is expected to accelerate the company's growth and impact in the field.
Board of Directors Enhancements
In reaction to its accelerated growth, Field Medical has announced new appointments to its Board of Directors, further strengthening its leadership and strategic direction:
- Steven Mickelsen, MD – Founder and CEO, who has been instrumental in developing pulsed field ablation technologies.
- Mark Wisniewski – CFO of Enterra Medical, providing guidance through the next phase of value creation as board chairperson.
- Marlou Janssen – An experienced executive joining as a Board Member, bringing valuable expertise in product and clinical strategy.
- Alexei Mlodinow, MD, MBA – A seasoned investor with a history in medtech innovation.
- Ben Cannon – Founding Partner at Cue Growth, adding depth to the board with venture capital insights.
About Field Medical Inc.
Founded in 2022, Field Medical is dedicated to advancing pulsed field ablation (PFA) technologies targeted at complex cardiac arrhythmias. Led by pioneer Dr. Steven Mickelsen, the FieldForce™ Ablation System utilizes a cutting-edge catheter design along with proprietary energy efficiency to allow for rapid and direct ablation. The company has already secured Breakthrough Device Designation and was selected for the FDA TAP Pilot Program for its VT treatment, highlighting its commitment to innovation in cardiac care.
Frequently Asked Questions
What is the purpose of the recently closed Series B funding?
The $35 million funding aims to advance the FieldForce Ablation System, support pivotal clinical trials, and enhance clinical and regulatory capabilities.
Who are the key players in this funding round?
The funding round was co-led by BioStar Capital and Cue Growth, with support from existing investors.
What innovations does the FieldForce Ablation System offer?
The FieldForce Ablation System is designed for effective ventricular tachycardia treatment, utilizing next-generation pulsed field ablation technology for precise lesion creation.
What recent achievements has Field Medical accomplished?
Field Medical has raised a total of $75 million to date and received Breakthrough Device Designation from the FDA.
How is Field Medical prepared to tackle challenges in cardiology?
Field Medical is equipped with a strong team and state-of-the-art technology aimed at addressing unmet needs in VT care, driven by clinical insights and innovative solutions.
