Field Medical Draws More Funding for its Pulsed Field Ablation Platform

Pulsed field ablation (PFA) technology developer Field Medical Inc. has closed a $35 million Series B financing round co-led by BioStar Capital and Cue Growth, with participation from existing strategic investors.

“Field Medical’s technology is doing what few companies dare to do—tackling one of the most difficult and under-addressed challenges in cardiology with real innovation and urgency,” BioStar Capital Founder/Senior Managing Director Louis Cannon, M.D., said. “Their physician-led team brings the right insight, and their FieldForce platform brings the right tools. We’re proud to support this next chapter as they move closer to transforming VT care.”

The Series B financing will support the start of the company’s pivotal VERITAS trial, advance the FieldForce Ablation System development, and further expand Field Medical’s clinical and regulatory capabilities. The financing was catalyzed in part by strong pilot data presented at the 2025 Heart Rhythm Society meeting. With this round, Field Medical has raised $75 million to date, further solidifying its expertise in PFA innovation for complex arrhythmias.

“Ventricular tachycardia is among the most underpenetrated segments in electrophysiology, yet physicians still lack the tools they need,” Field Medical Founder/CEO Steven Mickelsen, M.D., stated. “What is exciting is how VT is mirroring the early days of the AF market, strong clinical demand unmet by existing technology. We are poised to unlock this opportunity with our next-generation therapy built for speed, precision and real clinical progress, advancing toward pivotal readiness and redefining what is possible in VT care for high-risk patients.”

“This round reflects the momentum building behind Field Medical, not only from our clinical results, but also from the strength of our business fundamentals,” Field Medical Chief Financial Officer (CFO) Oskar Dadason commented. “Our strong showing at HRS attracted institutional investor interest and reinforced continued support from existing investors, speaking volumes about the confidence in our technology, strategy, and leadership.”

Board of Directors Update

In alignment with its accelerated growth trajectory, Field Medical announced updates to its Board of Directors:

• Steven Mickelsen, M.D., founder/CEO, Field Medical: Electrophysiologist, serial entrepreneur, and inventor of pulsed field ablation technologies including FARAPULSE and FieldForce.
• Mark Wisniewski, CFO of Enterra Medical: Medtech operator with deep buy-side experience and M&A leadership, guiding Field Medical through its next phase of value creation as board chair.
• Marlou Janssen, board member of Field Medical, Sonion, Acarix, EBAMed, and Inspiration Healthcare: Experienced executive and board member, former president of Biotronik U.S. and VP/GM at EPD Solutions Philips, bringing decades of commercial, product and clinical strategy leadership in cardiology and emerging medtech.
• Alexei Mlodinow, M.D.: Surgeon by training, serial entrepreneur, and investor with a track record in medtech innovation and multiple exits, including the $140 million acquisition of Surgical Innovation Associates.
• Ben Cannon, founding partner, Cue Growth: Seasoned venture capital investor with deep experience scaling growth-stage companies, offering institutional governance expertise and a performance-driven lens to support Field Medical as the company scales.

Founded in 2022, Field Medical is PFA technologies for treating complex cardiac arrhythmias. Led by PFA pioneer Dr. Mickelsen, the company’s FieldForce Ablation System combines breakthrough catheter design with proprietary FieldBending energy to enable rapid, targeted ablation. In 2024, the company received U.S. Food and Drug Administration (FDA) Breakthrough Device Designation and was selected for the FDA TAP Pilot Program for its VT indication.

The FieldForce Ablation System is an investigational device and is limited by U.S. law to investigational use.