AgNovos Bioscience
- Industry
- Medical Device
- Founded Year
- 2012
- Headquarters
- Rockville, MD
- Employee Count
- 54
Key People
- Dr. James Howe - Founder and Chief Medical Officer
- Tanner Howe - President and Chief Executive Officer
- Jarrett Waldner - Senior Vice President, Chief Financial Officer
- Chris Gegelys - Executive Vice President, General Counsel and Corporate Secretary
- Dr. Stephanie Kladakis - Executive Vice President, Chief Technology and Regulatory Officer
- Adam Lowe - Senior Vice President, Quality and Safety
- James Pilachowski - Senior Vice President, Hip and Marketing
- Falk Dukatz - Vice President Europe, Global Physician Relationship & Market Access
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with backgrounds in medical technology and healthcare.
The leadership team includes individuals with significant experience in the medical technology sector, such as Dr. James Howe, the founder and Chief Medical Officer, and Tanner Howe, the President and CEO. Their combined expertise enhances the company's potential for success.
- Clinical Need
-
Aspect: Very Strong
Summary: AgNovos addresses a significant unmet need in osteoporosis treatment.
Osteoporosis affects over 200 million women worldwide, leading to more than 12 million fractures annually. AgNovos' OSSURE LOEP kit offers a targeted approach to enhance bone density and strength, addressing a substantial clinical need.
- Competition
-
Aspect: Somewhat crowded
Summary: The osteoporosis treatment market has several established players.
The osteoporosis treatment market includes various pharmaceutical and medical device companies offering solutions. AgNovos' unique approach with the OSSURE LOEP kit differentiates it, but competition remains a factor.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing and validating bone-building technologies involves moderate complexity.
The development of the OSSURE LOEP kit involves creating a minimally invasive procedure and ensuring the implant material effectively promotes bone growth. While complex, these challenges are within the company's capabilities.
- Patent
-
Aspect: Strong
Summary: AgNovos holds strong patents for its bone-building technology.
AgNovos has developed proprietary, calcium-based, osteoconductive, and tri-phasic implant materials, which are protected by strong patents, enhancing its market position.
- Financing
-
Aspect: Well-funded
Summary: The company has secured significant funding to support its operations.
AgNovos has raised $51.5 million in funding, including a Series B round in June 2023, providing the financial resources necessary for product development and clinical trials.
- Regulatory
-
Aspect: Pivotal Trial
Summary: The company is conducting pivotal trials to gain regulatory approval.
AgNovos is conducting the RESTORE trial, a large-scale study evaluating the OSSURE LOEP kit's effectiveness in preventing secondary hip fractures. Positive results are essential for regulatory approval and market access.
Opportunity Rollup
- Odds of Success
- 3.55
- Peak Market Share
- 4.4
- Segment CAGR
- 3.0%
- Market Segment
- Orthopedic Devices
- Market Sub Segment
- Osteoporosis Treatment Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.22 |
| 2 | 0.66 |
| 3 | 1.54 |
| 4 | 3.08 |
| 5 | 4.40 |
Key Takeaway
AgNovos Bioscience, with its experienced team and innovative OSSURE LOEP kit, addresses a significant clinical need in osteoporosis treatment, though it faces competition and regulatory challenges.