Field Medical Closes Oversubscribed Series B of $35 Million
Deal News | Jul 02, 2025 | PR Newswire Cision Field Medical, Inc.
Field Medical, Inc., a clinical-stage company known for its novel pulsed field ablation (PFA) technology, has finalized an oversubscribed Series B funding round amounting to $35 million, co-led by BioStar Capital and Cue Growth. This funding round will support the launch of the VERITAS clinical trial, a critical step for the company, and further the advancements of the FieldForce system, aimed at improving ventricular tachycardia (VT) treatment. Field Medical, founded in 2022 and led by Dr. Steven Mickelsen, has now raised a total of $75 million. The company is focused on addressing the high unmet clinical demand in VT, a segment in electrophysiology that lacks necessary tools, similar to the early days of atrial fibrillation (AF) treatment. The round involved making strategic adjustments to their board, adding members with extensive medical technology and business acumen, indicative of the company's accelerated growth trajectory. BioStar Capital's Dr. Louis Cannon emphasized the challenges and opportunities faced by Field Medical in transforming VT care. The funding strengthens confidence in Field Medical's innovative technology and strategic direction as they position themselves for impactful outcomes in cardiac healthcare.
Sectors
- Medical Devices
- Biotechnology
Geography
- United States – Field Medical is based in Cardiff-by-the-Sea, California, and operates within the U.S. medical device and biotechnology landscape.
Industry
- Medical Devices – The article discusses Field Medical's development of a new medical device, the FieldForce ablation system, aimed at treating complex cardiac arrhythmias.
- Biotechnology – The focus on using innovative pulsed field ablation technology for cardiac treatment fits within the biotechnology sector, emphasizing advanced medical solutions.
Financials
- $35 million – The amount raised in the Series B funding round led by BioStar Capital and Cue Growth.
- $75 million – Total amount raised by Field Medical to date including the latest Series B funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Field Medical, Inc. | Target | Company | A clinical-stage company developing innovative pulsed field ablation technologies for complex cardiac arrhythmias, founded by Dr. Steven Mickelsen. |
| BioStar Capital | Investor | Company | A healthcare-focused investment firm co-leading the $35 million Series B funding round. |
| Cue Growth | Investor | Company | A growth-stage investment firm co-leading the Series B round alongside BioStar Capital. |
| Steven Mickelsen | CEO and Founder | Person | Founder and CEO of Field Medical, an electrophysiologist and serial entrepreneur in ablation technology. |
| Louis Cannon | Managing Director | Person | Founder and managing director of BioStar Capital, supporting Field Medical's strategic development. |
| Oskar Dadason | CFO | Person | Chief Financial Officer of Field Medical, involved in managing the financial strategy during the Series B round. |
| Mark Wisniewski | Chairman of the Board | Person | Guiding Field Medical in value creation and M&A strategies as the chairman of the board. |
| Marloes Janssen | Board Member | Person | Experienced leader in business, product, and clinical strategies in cardiology and emerging medical technologies. |
| Alexei Mlodinow | Board Member | Person | Surgeon and serial entrepreneur with experience in medical technology innovation and startup exits. |
| Ben Cannon | Board Member | Person | Founding partner at Cue Growth, bringing venture capital experience in governance and company expansion. |