October 2, 2023 4:27 am
Cardiac Ablation Technology Receives $14m Funding from Field Medical

Field Medical, a US-based company, has successfully closed an oversubscribed seed round, raising a total of $14m. The investment comes in the form of convertible notes and is led by private investors. The funding will be used to support the clinical development of Field Medical’s catheter ablation platform known as FieldBending technology.

The company plans to begin first-in-human studies in early 2024, with results expected in the middle of the same year. This marks an important step forward for Field Medical in advancing its pulse field ablation system, which is a second-generation technology being developed by founder Dr Steven Mickelsen. Dr Mickelsen is a cardiac electrophysiologist who previously founded Farapulse, a cardiac ablation company that was acquired by Boston Scientific for $460m in 2021.

Field Medical’s FieldBending technology aims to improve on first-generation pulse field ablation systems by enhancing efficacy and reducing unintended consequences. Currently, catheter ablation is primarily used for treating abnormal heart rhythms by blocking electrical pathways in the heart. While pulsed-field ablation is commonly utilized for atrial fibrillation, Field Medical intends to expand its application to include ventricular arrhythmias, highlighting the numerous unexplored possibilities outside of the left atrium.

Recent research published in the Journal of the American Medical Association has demonstrated the potential psychological benefits of catheter ablation, including improvements in symptoms of anxiety and depression. This further highlights the importance of advancing and developing technologies in the field.

According to market forecasts by GlobalData, the electrophysiology catheter ablation device market is expected to reach a value of $4.2bn by 2033. Key players in the market include Biosense Webster, a subsidiary of Johnson & Johnson, which recently launched a new diagnostic mapping catheter for cardiac arrhythmia cases. Medtronic also poses significant competition, having released data from its PULSED AF trial in March 2023. Meanwhile, Boston Scientific, through its acquisition of Farapulse, currently leads the way in pulsed field ablation.

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