Paragonix Technologies
- Industry
- Medical Devices
- Founded Year
- 2010
- Headquarters
- Waltham, Massachusetts, USA
- Employee Count
- 100
Key People
- Dr. Lisa Anderson - CEO and President
- Adam Lafreniere - Senior Director, Marketing
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team, including Dr. Lisa Anderson, brings extensive experience in medical technology and organ transplantation.
Dr. Lisa Anderson, as CEO and President, has led Paragonix Technologies to significant growth and innovation in organ preservation solutions. The team's expertise has been instrumental in achieving FDA clearances and expanding market presence.
- Clinical Need
-
Aspect: Very Strong
Summary: Paragonix addresses critical needs in organ transplantation with advanced preservation devices.
The global organ preservation and transportation market is expected to exceed USD 10 billion by 2033, driven by increasing transplant volumes and technological advancements. Paragonix's products meet the pressing need for enhanced organ viability during transport.
- Competition
-
Aspect: First mover
Summary: Paragonix is a pioneer in organ preservation technology with limited direct competition.
Paragonix's advanced organ preservation devices, such as the SherpaPak and BAROguard, offer significant improvements over traditional methods, positioning the company as a leader in this niche market.
- Technical Challenge
-
Aspect: Predictable
Summary: The development of organ preservation devices involves manageable technical challenges.
Paragonix has successfully developed and received FDA clearance for multiple organ preservation devices, indicating a strong capability to overcome technical challenges in this field.
- Patent
-
Aspect: Strong
Summary: Paragonix holds a robust portfolio of patents for its organ preservation technologies.
The company's patented technologies, including the SherpaPak and BAROguard systems, provide a competitive edge and protect against market entry by competitors.
- Financing
-
Aspect: Strategics
Summary: Acquired by Getinge for approximately USD 477 million, ensuring strong financial backing.
The acquisition by Getinge provides Paragonix with substantial resources to expand its product offerings and market reach, enhancing its growth prospects.
- Regulatory
-
Aspect: 510k/PMA + Reimbursement
Summary: Multiple FDA clearances and EU MDR approvals for organ preservation devices.
Paragonix has obtained FDA 510(k) clearances for devices like the SherpaPak and BAROguard, as well as EU MDR approvals, ensuring compliance with stringent regulatory standards and enabling broad market penetration.
Opportunity Rollup
- Odds of Success
- 4.7
- Peak Market Share
- 6.75
- Segment CAGR
- Double-digit growth expected
- Market Segment
- Organ Preservation and Transportation
- Market Sub Segment
- Advanced Organ Preservation Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.34 |
| 2 | 1.01 |
| 3 | 2.36 |
| 4 | 4.72 |
| 5 | 6.75 |
Key Takeaway
Paragonix Technologies, with its innovative organ preservation solutions and strong financial backing from Getinge, is well-positioned to capitalize on the rapidly growing organ transplantation market.