SPARK Neuro

Key People

• Spencer Gerrol - Founder and Chief Executive Officer
  Email: spencer@sparkneuro.com
• Marinela Gombosev - Chief Operating Officer and President
• Jeremy Sziklay JD - Chief Financial Officer and Board Member
• Harry Leider MD - Chief Strategy Officer
• Aaron Lee - Chief Technology Officer
• Ryan McGarry - Vice President of Research
• Aaron Apple - Director of Research

Assessment

Team

Aspect: First-time 10+ yrs
Summary: The leadership team comprises experienced professionals with diverse backgrounds in neuroscience, technology, and business.

The leadership team includes individuals with extensive experience in their respective fields, contributing to the company's strategic direction and operational success.

Clinical Need

Aspect: Very Strong
Summary: SPARK Neuro addresses a critical need for early and accurate dementia screening.

With dementia cases on the rise, there is a pressing need for effective diagnostic tools. SPARK Neuro's technology offers a promising solution to this challenge.

Competition

Aspect: Somewhat crowded
Summary: The market for neurodiagnostic tools is competitive, with several established players.

While the company's technology is innovative, it operates in a market with multiple competitors, which may impact market share and growth potential.

Technical Challenge

Aspect: Moderate
Summary: Developing and deploying AI-driven EEG analysis involves moderate technical challenges.

Ensuring accuracy, reliability, and scalability of the technology requires overcoming significant technical hurdles, though they are manageable with the right expertise.

Patent

Aspect: Applied
Summary: The company has pending patents related to its neurodiagnostic methods.

Securing patents for their technology could strengthen SPARK Neuro's market position and protect intellectual property.

Financing

Aspect: Medium
Summary: SPARK Neuro has raised $13.5 million in funding over multiple rounds.

The current funding supports operations and development, but further investment may be required to scale and compete effectively.

Regulatory

Aspect: 510k/PMA
Summary: The SPARK Scan is an FDA-cleared, Class-II device for dementia screening.

Regulatory approval indicates compliance with safety and efficacy standards, facilitating adoption by healthcare providers.

Opportunity Rollup

Odds of Success

3.85

Peak Market Share

5.2

Segment CAGR

4.9%

Market Segment

Neurology Devices

Market Sub Segment

Dementia Screening Tools

Key Takeaway

SPARK Neuro's innovative approach to dementia screening positions it well in a growing market, though it faces challenges from competition and regulatory complexities.