Field Medical Goes Through Another $35M Pulsed Field Ablation VC Round

Field Medical has secured an additional $35 million in venture capital investment for its heart pulse field ablation device to facilitate the initiation of a key study. The FieldForce pulsed field ablation (PFA) system includes the first purpose-built, contact force, focused PFA catheter. It facilitates an immediate ablation process. The business obtained FDA innovative device status for FieldForce at the tail-end of 2024.

The firm said that the recent deal was partially spurred by robust pilot results shown at the 2025 Heart Rhythm Society conference in San Diego, also held in April, when Field Medical conducted eight workshops, including first-in-human research on scar-tissue-induced ventricular tachycardia.

The Series B investment was jointly led by BioStar Capital and Cue Growth, increasing the California-based company’s total financing to $75 million. The Series A financing included $20 million in fresh cash and a restructuring of $20 million debt from the seed round in September 2023.

Founder and CEO Steven Mickelsen, M.D., stated that ventricular tachycardia remains one of the least addressed areas within electrophysiology, and that healthcare professionals continue to face a shortage of adequate tools to effectively treat the condition.

Mickelsen remarked that the ventricular tachycardia space is showing promising similarities to the initial phase of the atrial fibrillation market, characterized by high clinical demand that current technologies fail to meet. He explained that their next-generation treatment is designed to deliver faster, more accurate, and clinically meaningful outcomes, positioning the company to capitalize on this opportunity, move toward pivotal trial readiness, and reshape the standard of care for high-risk VT patients.

Mickelsen had already co-founded Farapulse, a developer of pulsed field ablation technology, which had tremendous commercial success—earning over $1 billion in sales in its initial year on the U.S. market—before being acquired by Boston Scientific. He also co-founded Atraverse Medical, a company developing gear for cardiac transseptal accessibility, recently raised nearly $30 million.

In the Heart Rhythm Society conference, Field Medical reported that after therapy with their FieldForce contact ablation technique, 78% of patients exhibited symptom relief; however, two out of the 22 participants experienced progression of heart failure.

Louis Cannon, founder and senior managing director of BioStar Capital, stated that Field Medical’s groundbreaking approach is taking on one of the toughest and most overlooked issues in cardiology with genuine innovation and a strong sense of urgency. He emphasized that the company’s physician-led leadership offers valuable expertise, while its FieldForce platform provides the necessary technological solutions.