Artio Medical
- Industry
- Medical Devices & Equipment
- Founded Year
- 2011
- Headquarters
- 7400 State Line Rd, Suite 202, Prairie Village, Kansas 66208, USA
- Employee Count
- 18
Key People
- F. Nicholas Franano - Co-Founder, President, and CEO
- Joseph Ingoglia - Chief Commercial Officer
- William (Bill) Whitaker - Co-Founder & Vice President
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with a track record in medical device innovation.
F. Nicholas Franano, the Co-Founder, President, and CEO, has a history of founding and leading successful biotech and medical device companies. This experience is crucial in navigating the complex landscape of medical device development and commercialization.
- Clinical Need
-
Aspect: Very Strong
Summary: Artio Medical addresses significant unmet needs in peripheral vascular, neurovascular, and structural heart markets.
The development of devices like the Solus Gold Embolization Device for peripheral vascular occlusion directly addresses pressing clinical needs, potentially improving patient outcomes and reducing procedure times.
- Competition
-
Aspect: Somewhat crowded
Summary: The medical device market is competitive, but Artio Medical's innovative products offer differentiation.
The peripheral vascular devices market is valued at $8.96 billion and is growing at a CAGR of 7.85%. Artio Medical's innovative devices, such as the Solus Gold Embolization Device, offer features like immediate and permanent vessel blockage, setting them apart from existing solutions.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing advanced medical devices involves moderate technical challenges.
The development of devices like the Solus Gold Embolization Device requires overcoming challenges related to biocompatibility, device deployment, and ensuring long-term efficacy. However, the team's expertise mitigates these challenges.
- Patent
-
Aspect: Strong
Summary: Artio Medical has a robust patent portfolio protecting its innovations.
A strong patent portfolio safeguards the company's proprietary technologies, preventing competitors from easily replicating their innovations and ensuring a unique position in the market.
- Financing
-
Aspect: Well-funded
Summary: The company has secured significant funding to support its operations and growth.
With a total of $74 million raised, including a $28 million Series A2 and A3 financing in June 2022, Artio Medical is well-positioned to advance its product pipeline and expand its market presence.
- Regulatory
-
Aspect: 510k/PMA
Summary: Artio Medical has achieved FDA clearance for key products, facilitating market entry.
The FDA clearance of the Solus Gold Embolization Device in March 2022 allows Artio Medical to commercialize its product in the U.S., marking a significant milestone in its regulatory journey.
Opportunity Rollup
- Odds of Success
- 3.6
- Peak Market Share
- 4.6
- Segment CAGR
- 7.85%
- Market Segment
- Peripheral Vascular Devices
- Market Sub Segment
- Embolization Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.23 |
| 2 | 0.69 |
| 3 | 1.61 |
| 4 | 3.22 |
| 5 | 4.60 |
Key Takeaway
Artio Medical, with its experienced team and innovative products, is well-positioned to address significant clinical needs in the peripheral vascular market, despite facing a competitive landscape and technical challenges.