- Field Medical, Inc. Announces Oversubscribed Seed Round to Advance Next-Generation Cardiac Ablation Technology

Funding Supports Development and Testing of Proprietary FieldBending™ Catheter Ablation Platform

CARDIFF-BY-THE-SEA, Calif., Sept. 18, 2023/PRNewswire/ -- Field Medical, Inc. (Field Medical), an emerging leader in cardiac catheter ablation, today announced that it has closed its over-funded seed round subscription with investments for a total of 14 million dollars.

The financing of the convertible notes was led by private investors joined by multiple strategic investors. This funding will support preclinical to clinical development activities, including first-in-human studies planned for early 2024.

Field Medical is developing a promising second-generation pulsed field ablation (PFA) system for the $3.6 billion cardiac catheter ablation market, a market that is rapidly accelerating at a CAGR of 14%. The company was founded in 2022 by Dr. Steven Mickelsen, a world-renowned PFA expert and practicing electrophysiologist. Prior to Field Medical, Dr. Mickelsen was the founder of FARAPULSE Inc. (WW's first-generation PFA), which was acquired by Boston Scientific for more than $460 million in 2021. The company's core products, the FieldForce Catheter ™ and the FieldForce™ generator, use patented technology called FieldBending™, which represents a significant step forward in overcoming the limitations of first-generation PFA technologies and addressing a huge unmet need to treat any cardiac arrhythmia while expanding capabilities for also treat complex ventricular arrhythmias.

"Dr. Steven Mickelsen is a renowned cardiac electrophysiologist and is known as the father of cardiac pulse field ablation," said lead investor Tajar Varghese. "He and the team at Field Medical are poised to revolutionize the cardiac ablation market with the next evolution of this technology, and I fully believe they will."

Field Medical launched just over a year ago with the goal of reinventing catheter ablation and applying knowledge gained from established market technologies and emerging first-generation PFAs. The efficient start-up environment provides a foundation for pioneering tools that go beyond indications such as paroxysmal atrial fibrillation. In that context, PFA is well recognized for its safety benefits and positive impact on procedural speed; however, applications outside the left atrium remain largely unexplored. PFA has obvious potential to open new market opportunities where emerging, next-generation PFA technology is lacking.

"At Field Medical, our goal is to be an industry leader in pulsed-field catheter ablation by creating technology that physicians need and patients deserve. In today's uncertain investment climate, we are delighted to have attracted so much attention from community of investors and strategic partners," explained Dr. Steven Mickelsen, CEO of Field Medical. "I credit the talented team at Field Medical for forming the forefront of our innovation and moving the project forward at an incredible pace."

Field Medical anticipates sharing preliminary clinical results in mid-2024. These upcoming milestones will position the company for further growth as they continue to develop the equipment, complete all necessary clinical pilot studies, and obtain regulatory approvals (CE Mark and FDA). through fundamental tests. Field Medical is on a path to redefining pulsed-field catheter ablation culminating in future commercialization.

About Field Medical, Inc.

Field Medical, Inc. is a world leader in pulsed-field focal catheter ablation. Founded in 2022 by Dr. Steven Mickelsen, the company is developing a proprietary technology called FieldBending™ designed to concentrate therapeutic effects and reduce unwanted far-field effects associated with first-generation PFA technology. Field Medical intends to expand the indications for pulsed field ablation (PFA) beyond atrial fibrillation therapy by addressing much more challenging arrhythmias in the ventricle and common procedures such as supraventricular tachycardia (SVT) that require minimal sedation . For more information, visit: www.fieldmedicalinc.com. For additional company news and announcements, follow Field Medical on LinkedIn and X.

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