TRiCares
- Industry
- Medical Devices
- Founded Year
- 2013
- Headquarters
- Paris, France and Munich, Germany
- Employee Count
- 18
Key People
- Ahmed Elmouelhi - President and Chief Executive Officer
- Laura Ghione - Chief Operating Officer
- Esther Gerteis - Vice President Medical & Regulatory Affairs
- Michael Litzenburger - Vice President Research & Development
- Lubos Cechvala - Director of Finance
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises seasoned professionals with extensive experience in the medical device industry.
The executive team includes individuals with over 20 years of experience in medical devices, covering strategy, sales, marketing, R&D, and clinical science. Their backgrounds include significant roles at companies like AtriCure, Medtronic, and AGA Medical, indicating a strong foundation for leading TRiCares.
- Clinical Need
-
Aspect: Very Strong
Summary: TRiCares addresses a significant unmet need in treating tricuspid regurgitation (TR).
TR affects over 1.6 million patients in the US and over 3 million in Europe. Traditional open-heart surgeries are high-risk, making minimally invasive solutions like TRiCares' Topaz system crucial for patient care.
- Competition
-
Aspect: First mover
Summary: TRiCares is among the pioneers in developing transcatheter tricuspid valve replacement systems.
While the market for transcatheter tricuspid valve replacements is emerging, TRiCares' early entry positions it as a leader. However, the novelty of the solution requires significant efforts in clinical validation and market penetration.
- Technical Challenge
-
Aspect: Complex
Summary: Developing a transcatheter tricuspid valve replacement involves significant technical complexities.
The tricuspid valve's anatomy and function present unique challenges for transcatheter interventions. Ensuring device efficacy, safety, and ease of use requires advanced engineering and extensive clinical trials.
- Patent
-
Aspect: Strong
Summary: TRiCares has secured robust intellectual property protection for its innovations.
The company holds multiple patents related to its transcatheter tricuspid valve replacement system, covering design and procedural aspects. This IP protection is vital for maintaining market exclusivity and attracting investment.
- Financing
-
Aspect: Well-funded
Summary: TRiCares has successfully raised substantial funding across multiple financing rounds.
The company closed a $50 million Series D financing round in July 2024, following a 51 million Series C round in December 2022. These funds are allocated for product development, clinical trials, and regulatory approvals.
- Regulatory
-
Aspect: Pivotal Trial
Summary: TRiCares is progressing through critical regulatory milestones.
The company has initiated an Early Feasibility Study in the US and plans to commence a pivotal trial in Europe. Successful completion of these trials is crucial for obtaining regulatory approvals and subsequent commercialization.
Opportunity Rollup
- Odds of Success
- 3.25
- Peak Market Share
- 3.8
- Segment CAGR
- 15.1%
- Market Segment
- Cardiovascular Devices
- Market Sub Segment
- Transcatheter Heart Valves
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.19 |
| 2 | 0.57 |
| 3 | 1.33 |
| 4 | 2.66 |
| 5 | 3.80 |
Key Takeaway
TRiCares is well-positioned to address a significant unmet need in tricuspid regurgitation treatment with its innovative transcatheter valve replacement system, supported by a strong team and substantial funding.