iSTAR Medical
- Industry
- Medical Devices
- Founded Year
- 2010
- Headquarters
- Wavre, Belgium
- Employee Count
- 70
Key People
- Michel Vanbrabant - Chief Executive Officer
- Paul van Hagen - Chief Financial Officer
- Prof. Dr. Kaweh Mansouri - Chief Medical Officer
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with successful track records in medical technology.
The leadership team includes individuals with significant experience in the MedTech industry, contributing to the company's strategic direction and operational execution.
- Clinical Need
-
Aspect: Very Strong
Summary: Glaucoma is a leading cause of irreversible blindness, affecting over 100 million people globally.
The high prevalence and serious nature of glaucoma underscore the critical need for effective treatments, aligning with the company's focus on innovative solutions.
- Competition
-
Aspect: Somewhat crowded
Summary: The MIGS market is competitive with several established players.
While the MIGS market offers growth opportunities, the presence of multiple competitors necessitates a clear value proposition and effective market penetration strategies.
- Technical Challenge
-
Aspect: Predictable
Summary: The development of MINIject involves manageable technical challenges.
The technical challenges associated with developing MINIject are within the company's capabilities, facilitating progress from development to commercialization.
- Patent
-
Aspect: Very Strong
Summary: iSTAR Medical holds exclusive rights to the STAR material for ophthalmic use.
Exclusive rights to the STAR material provide a significant barrier to entry for competitors, securing the company's position in the market.
- Financing
-
Aspect: Well-funded
Summary: The company has secured substantial funding, including a $60M upfront payment from AbbVie.
Significant investments from reputable investors and strategic partnerships provide the financial resources necessary for product development, clinical trials, and market expansion.
- Regulatory
-
Aspect: 510k/PMA
Summary: MINIject has received CE marking and is undergoing a U.S. Pre-Market Approval study.
Achieving CE marking allows for commercialization in Europe, while ongoing U.S. regulatory processes aim to expand the product's availability to a broader patient population.
Opportunity Rollup
- Odds of Success
- 3.8
- Peak Market Share
- 4.85
- Segment CAGR
- 3.2%
- Market Segment
- Ophthalmic Devices
- Market Sub Segment
- Minimally Invasive Glaucoma Surgery (MIGS) Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.24 |
| 2 | 0.73 |
| 3 | 1.70 |
| 4 | 3.40 |
| 5 | 4.85 |
Key Takeaway
iSTAR Medical's MINIject device addresses a significant clinical need in glaucoma treatment, supported by strong leadership, robust financing, and strategic partnerships, positioning the company favorably in the growing MIGS market.