Field Medical Secures $40M for Pulsed Field Ablation in Ventricular Tachycardia

Field Medical, a startup led by Farapulse inventor Steven Mickelsen, has closed a $40 million financing round to advance its pulsed field ablation (PFA) technology for treating ventricular tachycardia (VT). The funding will support the completion of first-in-human trials for the company's FieldForce ablation system, as well as additional studies in atrial fibrillation (AFib).

PFA Technology Reshaping Electrophysiology Market

Pulsed field ablation has emerged as a transformative technology in the electrophysiology market, offering advantages over traditional ablation methods that use heat or extreme cold. PFA employs electrical pulses to destroy targeted cardiac cells while minimizing damage to surrounding tissue, making it an attractive option for treating various arrhythmias.

Boston Scientific and Medtronic have already seen significant success with their PFA systems for AFib treatment. Boston Scientific's Farapulse PFA system, acquired through the purchase of Mickelsen's previous startup, has driven triple-digit growth in the company's electrophysiology business.

Addressing the Unmet Need in Ventricular Tachycardia

While PFA has gained traction in AFib treatment, Field Medical aims to differentiate itself by initially focusing on ventricular tachycardia. VT is characterized by a rapid heartbeat that can lead to sudden cardiac arrest and, according to Mickelsen, represents a "true unmet need" in medicine due to a lack of effective drug treatments.

Medtronic is also exploring the use of PFA for VT treatment with its Affera and Sphere-9 technologies, indicating growing interest in this application within the industry.

Funding Details and Future Plans

Field Medical's $40 million Series A funding comprises $20 million in new capital and the conversion of $20 million in seed round debt. The Cardiff-by-the-Sea, California-based company plans to use the funds to accelerate the development of its FieldForce ablation system and work towards commercialization.

In addition to its focus on VT, Field Medical is developing its PFA technology to address a range of arrhythmias, including AFib. This broader approach could position the company to compete with industry giants such as Johnson & Johnson, Abbott, Boston Scientific, and Medtronic in the expanding electrophysiology market.