EvoEndo
- Industry
- Medical Devices & Equipment
- Founded Year
- 2017
- Headquarters
- 12649 E Caley Ave Suite 116, Centennial, Colorado 80111, United States
- Employee Count
- 14
Key People
- Jonathan T. Hartmann - Chief Executive Officer
- Joel Friedlander - Chief Medical Officer/Co-Founder
- Ryan Hartman - Chief Operating Officer
- Carrie Showalter - Chief Financial Officer
- Paul Imaoka - Senior Vice President of Manufacturing & Operations
- Annie Harmon - Senior Director of Marketing/Communications
- Beth Allen - National Sales Director
- Joshua Goldberg - Director of Sales, Northeast
- Dave Bunning - Director
- Amy Carver-Geist - Regional Sales & Market Development Director, Eastern United States
- Chris Rowland - Director
- Jeff Harrington - Director
- Betsy J. Lahue - Director
- Carl Traynor - Director
- David Pierce - Director
Assessment
- Team
-
Aspect: First-time physician innovator
Summary: The leadership team includes experienced medical professionals and executives, with the Chief Medical Officer being a co-founder and practicing physician.
Having a physician innovator as a co-founder provides valuable insights into patient care and clinical workflows, which can drive product development and adoption.
- Clinical Need
-
Aspect: Very Strong
Summary: EvoEndo addresses a significant clinical need by offering unsedated transnasal endoscopy, reducing risks and costs associated with sedation.
By eliminating the need for sedation, EvoEndo's technology can improve patient safety, reduce procedure times, and lower healthcare costs, meeting a critical need in endoscopic diagnostics.
- Competition
-
Aspect: First mover
Summary: EvoEndo appears to be among the first to offer a single-use, unsedated transnasal endoscopy system.
As a first mover, EvoEndo can set industry standards, build strong relationships with healthcare providers, and capture significant market share before competitors enter the space.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing a single-use, flexible endoscope with integrated VR-based patient distraction involves moderate technical challenges.
The combination of medical device development and virtual reality technology necessitates interdisciplinary expertise and thorough validation to meet regulatory standards and user expectations.
- Patent
-
Aspect: Applied
Summary: EvoEndo has applied for patents related to their unsedated transnasal endoscopy system.
Securing patents is crucial for safeguarding innovations, attracting investors, and preventing competitors from replicating proprietary technology.
- Financing
-
Aspect: Medium
Summary: EvoEndo has raised approximately $18.5 million across multiple funding rounds.
Adequate financing is essential for product development, regulatory approvals, marketing, and scaling production to meet market demand.
- Regulatory
-
Aspect: 510k/PMA
Summary: EvoEndo's system has received FDA 510(k) clearance, allowing for commercial distribution in the U.S.
FDA clearance validates the safety and efficacy of the device, enabling the company to market and sell the product to healthcare providers.
Opportunity Rollup
- Odds of Success
- 3.95
- Peak Market Share
- 5.45
- Segment CAGR
- 10.7%
- Market Segment
- Endoscopy Devices
- Market Sub Segment
- Transnasal Endoscopy
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.27 |
| 2 | 0.82 |
| 3 | 1.91 |
| 4 | 3.82 |
| 5 | 5.45 |
Key Takeaway
EvoEndo's innovative unsedated transnasal endoscopy system addresses a significant clinical need with strong market potential, supported by experienced leadership and recent FDA clearance.