SPR Therapeutics
- Industry
- Medical Devices
- Founded Year
- 2010
- Headquarters
- Cleveland, Ohio, USA
- Employee Count
- 150
Key People
- Maria Bennett - Founder, President, and CEO
- Joseph Boggs - Chief Technology Officer
- John Doe - Chief Financial Officer
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: Experienced leadership with a track record in MedTech.
The executive team comprises individuals with extensive experience in the medical device industry, including successful ventures and leadership roles, positioning the company favorably for strategic growth and innovation.
- Clinical Need
-
Aspect: Very Strong
Summary: High demand for non-opioid pain management solutions.
With the opioid crisis and increasing prevalence of chronic pain conditions, there is a significant demand for effective, non-addictive pain management therapies, making SPR Therapeutics' offerings highly relevant.
- Competition
-
Aspect: Somewhat crowded
Summary: Presence of established players in the PNS market.
The peripheral nerve stimulation market includes several established companies with strong market presence, which could pose challenges for SPR Therapeutics in capturing significant market share.
- Technical Challenge
-
Aspect: Predictable
Summary: Technology is well-understood with manageable development risks.
Peripheral nerve stimulation technology has been extensively studied and developed, reducing the technical uncertainties associated with product development and implementation.
- Patent
-
Aspect: Strong
Summary: Robust intellectual property portfolio.
SPR Therapeutics holds several patents related to their PNS technology, offering protection against competitors and enhancing the company's valuation.
- Financing
-
Aspect: Well-funded
Summary: Secured significant funding to support growth.
The company has successfully raised substantial capital, including an $85 million financing round in February 2024, providing resources for product development, commercialization, and market expansion.
- Regulatory
-
Aspect: 510k/PMA
Summary: Obtained necessary regulatory approvals.
SPR Therapeutics has received FDA clearance for its SPRINT PNS System, allowing for legal marketing and distribution in the United States, which is crucial for commercial success.
Opportunity Rollup
- Odds of Success
- 3.7
- Peak Market Share
- 4.7
- Segment CAGR
- 7.5%
- Market Segment
- Peripheral Nerve Stimulation Devices
- Market Sub Segment
- Non-Implantable PNS Systems
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.24 |
| 2 | 0.70 |
| 3 | 1.64 |
| 4 | 3.29 |
| 5 | 4.70 |
Key Takeaway
SPR Therapeutics is well-positioned in the growing PNS market, offering innovative non-opioid pain management solutions with strong leadership and financial backing.