Precision Neuroscience
- Industry
- Biotech
- Founded Year
- 2021
- Headquarters
- New York City, New York, United States
- Employee Count
- 106
Key People
- Michael Mager - Co-Founder and Chief Executive Officer
- Benjamin Rapoport - Co-Founder and Chief Science Officer
- Mark Hettick - Co-Founder and Senior Design Engineer
- Demetrios Papageorgiou - Co-Founder
- Michael Kaswan - Chief Financial Officer
- John Woock - Chief Business Officer
- Jayme Strauss - Chief Commercial & Clinical Officer
- Brian Otis - Chief Technology Officer
- Vanessa Tolosa - Senior Vice President of Research and Development
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with backgrounds in neurosurgery, engineering, and business.
The co-founders and executives have significant experience in relevant fields, including prior involvement in similar ventures, which enhances the company's credibility and potential for success.
- Clinical Need
-
Aspect: Very Strong
Summary: The company's technology addresses severe neurological conditions such as paralysis, stroke, and ALS.
Millions of individuals suffer from debilitating neurological conditions with limited treatment options. Precision Neuroscience's BCI technology offers a promising solution to restore communication and mobility, addressing a critical clinical need.
- Competition
-
Aspect: Somewhat crowded
Summary: The BCI market includes several players, including well-funded competitors like Neuralink.
While the BCI field is growing, the presence of established companies with significant resources could pose challenges for market entry and share acquisition for Precision Neuroscience.
- Technical Challenge
-
Aspect: Complex
Summary: Developing minimally invasive, high-resolution BCIs involves significant technical hurdles.
Creating a BCI that is both minimally invasive and capable of high-resolution data processing requires overcoming substantial engineering and biological challenges, which could affect the speed and success of product development.
- Patent
-
Aspect: Strong
Summary: The company holds over 25 patents and pending patents on its technology.
A strong patent portfolio can protect the company's innovations, deter competitors, and enhance its valuation, contributing positively to its market position.
- Financing
-
Aspect: Well-funded
Summary: The company has raised $155 million across multiple funding rounds.
Significant financial backing enables the company to invest in research, development, and scaling operations, which is crucial for bringing complex medical technologies to market.
- Regulatory
-
Aspect: Pivotal Trial
Summary: The company has received FDA Breakthrough Device designation and is advancing towards clinical trials.
While the FDA Breakthrough Device designation is a positive step, the company must successfully navigate clinical trials and obtain full regulatory approval before commercialization, which can be a lengthy and uncertain process.
Opportunity Rollup
- Odds of Success
- 3.65
- Peak Market Share
- 4.6
- Segment CAGR
- 4.9%
- Market Segment
- Neurology Devices
- Market Sub Segment
- Brain-Computer Interfaces
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.23 |
| 2 | 0.69 |
| 3 | 1.61 |
| 4 | 3.22 |
| 5 | 4.60 |
Key Takeaway
Precision Neuroscience is well-positioned in the emerging BCI market, leveraging a strong team and substantial funding to address significant clinical needs, though it faces technical and competitive challenges.