Koya Medical

Key People

• Andy Doraiswamy - Founder, President & CEO
  LinkedIn: https://www.linkedin.com/in/adoraiswamy/
• Damian Rippole - Chief Financial Officer
• Angela Neofotistos - Vice President of Sales
• Charles Liu - Chief Marketing Officer
• Jarren Baldwin - Vice President, Operations & Technology

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 the CEO, Andy Doraiswamy, who has a background in developing sight-restoring implants used by millions worldwide. This depth of experience is a strong asset for the company's growth and innovation.

Clinical Need

Aspect: Very Strong
Summary: Koya Medical addresses a significant unmet need in the treatment of lymphedema and venous diseases.

Lymphedema and venous diseases affect millions of individuals, often leading to chronic swelling and mobility issues. Traditional compression therapies have limitations, and Koya Medical's innovative solutions aim to provide more effective and patient-friendly treatments, addressing a critical gap in the market.

Competition

Aspect: Somewhat crowded
Summary: The market for compression therapies has existing competitors, but Koya Medical offers differentiated solutions.

The compression therapy market includes several established players offering traditional solutions. However, Koya Medical's Dayspring system introduces a non-pneumatic, wearable compression treatment that allows for greater mobility and adherence, setting it apart from conventional options.

Technical Challenge

Aspect: Predictable
Summary: The development of wearable compression devices involves manageable technical challenges.

Creating a wearable, non-pneumatic compression device requires expertise in materials science, biomedical engineering, and user-centered design. Koya Medical's team has successfully navigated these challenges, resulting in the FDA-cleared Dayspring system, indicating a high level of technical competence.

Patent

Aspect: Strong
Summary: Koya Medical has secured patents to protect its innovative technologies.

A robust patent portfolio safeguards Koya Medical's proprietary technologies, preventing competitors from replicating their innovations. This intellectual property protection is crucial for maintaining market leadership and attracting investment.

Financing

Aspect: Well-funded
Summary: Koya Medical has successfully raised significant funding to support its growth.

With a total funding of approximately $67 million, including a recent $30 million financing led by OrbiMed, Koya Medical is well-capitalized to advance its product pipeline, expand commercialization efforts, and invest in further research and development.

Regulatory

Aspect: 510k/PMA
Summary: The Dayspring system has received FDA 510(k) clearance for treating lymphedema and chronic venous conditions.

Achieving FDA 510(k) clearance demonstrates that the Dayspring system meets safety and efficacy standards, allowing Koya Medical to market the device in the United States. This regulatory milestone is essential for building credibility and driving sales.

Opportunity Rollup

Odds of Success

3.7

Peak Market Share

4.7

Segment CAGR

5.4%

Market Segment

Medical Devices

Market Sub Segment

Compression Therapy Devices

Key Takeaway

Koya Medical is well-positioned to address a significant unmet need in the treatment of lymphedema and venous diseases with its innovative, patient-centric solutions, supported by a strong team and substantial funding.