Neurent Medical
- Industry
- Medical Device
- Founded Year
- 2014
- Headquarters
- Oranmore, Galway, Ireland
- Employee Count
- 60
Key People
- Brian Shields - Co-founder & CEO, Board Member
- Declan Daly - Chief Financial Officer
- Karen Peterson - VP of Clinical, Regulatory & Quality
- John Peterson - VP of Sales & Marketing
- Mark Fletcher - Chairman of the Board
- Justin Lynch - Board Member, Partner & CFO at Fountain Healthcare Partners
- Eamon Brady - Board Member, CEO at WhiteSwell
- Drew Burdon - Board Member at LSP
- Gerry Maguire - General Partner at Atlantic Bridge
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises individuals with extensive experience in the MedTech industry, including successful entrepreneurs and executives from major medical device companies.
The presence of seasoned professionals with prior successes in the medical device sector positions Neurent Medical favorably for navigating the complexities of product development, regulatory approval, and market penetration.
- Clinical Need
-
Aspect: Very Strong
Summary: Chronic rhinitis affects a significant portion of the population, leading to substantial quality-of-life impairments and economic burdens.
The high prevalence of chronic rhinitis, coupled with the limitations of existing treatments, underscores a pressing need for innovative solutions like Neurent Medical's NEUROMARK system.
- Competition
-
Aspect: Somewhat crowded
Summary: The market for chronic rhinitis treatments includes several established players offering both surgical and non-surgical options.
The presence of multiple treatment modalities necessitates differentiation; however, NEUROMARK's innovative technology and minimally invasive nature could position it favorably within the market.
- Technical Challenge
-
Aspect: Predictable
Summary: The development of the NEUROMARK system involves established technologies applied in a novel manner.
By adapting known technologies for new applications, Neurent Medical can mitigate technical uncertainties, facilitating a smoother development and approval process.
- Patent
-
Aspect: Strong
Summary: Neurent Medical holds patents protecting its proprietary NEUROMARK technology.
Robust patent coverage safeguards the company's innovations, deterring potential competitors and supporting long-term market exclusivity.
- Financing
-
Aspect: Well-funded
Summary: The company has secured significant funding from reputable investors, including a $25 million Series B round.
The financial backing from experienced investors provides the necessary resources for advancing clinical programs, regulatory submissions, and market entry strategies.
- Regulatory
-
Aspect: 510k/PMA
Summary: NEUROMARK has received FDA 510(k) clearance, facilitating its entry into the U.S. market.
Achieving FDA clearance is a critical milestone that not only allows for commercialization but also serves as a testament to the product's safety and efficacy.
Opportunity Rollup
- Odds of Success
- 3.7
- Peak Market Share
- 4.7
- Segment CAGR
- 7.7%
- Market Segment
- ENT Devices
- Market Sub Segment
- Balloon Sinuplasty System
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.24 |
| 2 | 0.70 |
| 3 | 1.64 |
| 4 | 3.29 |
| 5 | 4.70 |
Key Takeaway
Neurent Medical's innovative NEUROMARK system addresses a significant clinical need with strong market potential, supported by experienced leadership and robust funding.