BioProtect Ltd.
- Industry
- Medical Device
- Founded Year
- 0
- Headquarters
- Tzur Yigal, Israel
- Employee Count
- 0
Key People
- Itay Barnea - CEO
- Ken Knudson - General Manager and Chief Commercial Officer
Assessment
- Team
-
Aspect: First-time 10+ yrs
Summary: The leadership team has significant experience in the medical device industry.
CEO Itay Barnea and CCO Ken Knudson bring extensive experience in medical devices, enhancing the company's strategic direction and commercialization efforts.
- Clinical Need
-
Aspect: Very Strong
Summary: High demand for rectal protection during prostate cancer radiation therapy.
With prostate cancer being the second most common cancer among men in the U.S., effective rectal protection solutions like BioProtect's biodegradable balloon spacer address a critical clinical need.
- Competition
-
Aspect: Somewhat crowded
Summary: Presence of established competitors in the absorbable tissue spacer market.
Companies like Boston Scientific and BD offer similar products, making the market competitive. However, BioProtect's unique biodegradable balloon spacer may provide a competitive edge.
- Technical Challenge
-
Aspect: Predictable
Summary: Development of biodegradable spacers is technically feasible with existing technology.
The technology behind biodegradable spacers is well-established, reducing technical risks associated with product development and manufacturing.
- Patent
-
Aspect: Strong
Summary: BioProtect holds patents for its biodegradable balloon spacer technology.
Holding strong patents provides BioProtect with a competitive advantage and potential barriers to entry for competitors.
- Financing
-
Aspect: Well-funded
Summary: Secured $28 million in funding led by MVM Partners.
The recent funding round supports U.S. commercialization efforts, indicating strong financial backing and investor confidence.
- Regulatory
-
Aspect: 510k/PMA
Summary: Received FDA clearance for the BioProtect Balloon Implant System.
FDA clearance facilitates market entry in the U.S., streamlining the commercialization process and building credibility among healthcare providers.
Opportunity Rollup
- Odds of Success
- 3.5
- Peak Market Share
- 4.6
- Segment CAGR
- 4.9%
- Market Segment
- Absorbable Tissue Spacers
- Market Sub Segment
- Biodegradable Balloon Spacers
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.23 |
| 2 | 0.69 |
| 3 | 1.61 |
| 4 | 3.22 |
| 5 | 4.60 |
Key Takeaway
BioProtect's biodegradable balloon spacer addresses a significant clinical need in prostate cancer treatment, supported by strong leadership and recent FDA clearance, positioning the company favorably in a competitive market.