Flosonics Medical

Key People

• Joe Eibl - CEO & Co-Founder
• Andrew Eibl - Director of Operations & Co-Founder
• Jon-Emile Kenny - Chief Medical Officer & Co-Founder
• Sachit Harish - Director of Finance & Co-Founder
• Mai Elfarnawany - VP of Engineering
• Isabelle Falzon - Lead Quality Engineer

Assessment

Team

Aspect: First-time 10+ yrs
Summary: The founding team comprises individuals with over a decade of experience in their respective fields, including medical device development and finance.

The leadership team includes seasoned professionals: CEO & Co-Founder Joe Eibl, Director of Operations & Co-Founder Andrew Eibl, Chief Medical Officer & Co-Founder Dr. Jon-Emile Kenny, and Director of Finance & Co-Founder Sachit Harish. Their combined expertise in medical devices, operations, and finance provides a solid foundation for the company's growth and innovation.

Clinical Need

Aspect: Very Strong
Summary: FloPatch addresses a critical need for non-invasive, real-time hemodynamic monitoring in critically ill patients.

Traditional methods for assessing blood flow in critically ill patients are often invasive or cumbersome. FloPatch offers a non-invasive, wearable solution that enables rapid, repeatable hemodynamic assessments, facilitating timely and effective interventions, particularly in sepsis management.

Competition

Aspect: First mover
Summary: FloPatch is the first wearable Doppler ultrasound device, offering a unique solution in the market.

As the world's first wireless, wearable Doppler ultrasound device, FloPatch has a unique position in the market. This first-mover advantage allows Flosonics Medical to establish strong brand recognition and set industry standards before potential competitors enter the space.

Technical Challenge

Aspect: Moderate
Summary: Developing a wearable, wireless Doppler ultrasound device involves moderate technical challenges.

Creating a device like FloPatch requires integrating advanced ultrasound technology into a compact, wearable form while ensuring accuracy and reliability. Flosonics Medical has successfully navigated these challenges, as evidenced by the device's FDA clearance and positive clinical outcomes.

Patent

Aspect: Strong
Summary: Flosonics Medical holds strong patents protecting its FloPatch technology.

The company's patents cover key aspects of the FloPatch technology, including its wearable design and wireless functionality. This strong IP portfolio helps safeguard against competitors and supports the company's market position.

Financing

Aspect: Well-funded
Summary: The company has secured significant funding, including a $20 million USD Series C round.

Flosonics Medical has raised substantial capital through multiple funding rounds, including a $20 million USD Series C led by New Leaf Venture Partners in March 2024. This financial backing enables the company to accelerate commercial growth, expand indications for use, and continue evidence generation.

Regulatory

Aspect: 510k/PMA
Summary: FloPatch has received FDA clearance, facilitating its market entry.

The FDA clearance of FloPatch indicates that the device meets necessary safety and efficacy standards, allowing Flosonics Medical to market and distribute the product in the United States. This approval is a critical milestone for the company's commercial strategy.

Opportunity Rollup

Odds of Success

4.1

Peak Market Share

5.95

Segment CAGR

3.6%

Market Segment

Patient Monitoring

Market Sub Segment

Hemodynamic Monitoring

Key Takeaway

Flosonics Medical's FloPatch addresses a critical clinical need with innovative technology, supported by strong leadership and substantial funding, positioning the company for significant market impact.