Levita Magnetics
- Industry
- Medical Devices & Equipment
- Founded Year
- 2011
- Headquarters
- Mountain View, California
- Employee Count
- 38
Key People
- Alberto Rodriguez-Navarro, M.D. - Founder, President, CEO
- Jon Beltrone - Vice President of Global Sales
- Chauncey Graetzel - Vice President, R&D
- Pat Coghill - Vice President, Operations
- Donielle Baudin - Sr. Director, Regulatory and Quality
- Cindy Domecus - Regulatory Strategist
Assessment
- Team
-
Aspect: First-time physician innovator
Summary: Led by a first-time physician innovator with a strong clinical background.
Dr. Alberto Rodriguez-Navarro brings over a decade of clinical experience and has multiple patents. However, as a first-time entrepreneur in the MedTech sector, there may be a learning curve in navigating the business aspects of the industry.
- Clinical Need
-
Aspect: Strong
Summary: Addresses a significant need for less invasive surgical procedures.
Levita's Magnetic Surgery platform aims to minimize surgical footprints, leading to better cosmetic outcomes, less pain, and faster recovery. This aligns with the increasing preference for minimally invasive surgeries among patients and healthcare providers.
- Competition
-
Aspect: Somewhat crowded
Summary: Operates in a competitive market with several established players.
The market for minimally invasive surgical devices is populated with established companies offering robotic and laparoscopic solutions. Levita's unique magnetic approach differentiates it, but market penetration will require strategic positioning.
- Technical Challenge
-
Aspect: Moderate
Summary: The technology presents moderate technical challenges.
Implementing magnetic-assisted surgical platforms requires precise engineering to ensure safety, efficacy, and compatibility with existing surgical practices. While challenging, these are manageable with a skilled R&D team.
- Patent
-
Aspect: Strong
Summary: Holds strong patent positions in magnetic surgical technology.
Levita has secured multiple patents related to its Magnetic Surgery platform, safeguarding its innovations and potentially deterring competitors from developing similar technologies.
- Financing
-
Aspect: Well-funded
Summary: Secured substantial funding to support development and commercialization.
In August 2022, Levita closed a $26 million Series C financing round, led by a healthtech investment group managed by Evan Norton, with participation from MedTex Ventures, Invermaster, and Carao Ventures. This funding is earmarked for advancing their MARS platform through regulatory processes and into the U.S. market.
- Regulatory
-
Aspect: Pivotal Trial
Summary: Currently undergoing pivotal trials for regulatory approval.
Levita's MARS platform has been utilized in over 30 cases in a clinical trial in Chile, including obesity procedures and ambulatory cholecystectomies. These trials are essential for gathering data to support regulatory submissions and eventual market entry.
Opportunity Rollup
- Odds of Success
- 2.95
- Peak Market Share
- 3.95
- Segment CAGR
- 4.0%
- Market Segment
- General Surgery Devices
- Market Sub Segment
- Minimally Invasive Surgical Instruments
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.20 |
| 2 | 0.59 |
| 3 | 1.38 |
| 4 | 2.76 |
| 5 | 3.95 |
Key Takeaway
Levita Magnetics' innovative magnetic surgical platform addresses a significant clinical need in minimally invasive surgery, but faces challenges in market penetration due to competition and regulatory hurdles.