InnoVoyce
- Industry
- Medical Devices
- Founded Year
- 2019
- Headquarters
- Boston, MA
- Employee Count
- 6
Key People
- Michael Davin - Chief Executive Officer
- Dr. Robert Hillman - Co-Founder, Scientific Consultant & Board Member
- Dr. Steven Zeitels - Co-Founder, Scientific Consultant & Board Member
- Mike Bartlett - Commercial Manager
- Peyton Carell - Operations Manager & Marketing Coordinator
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with a strong background in medical technology and voice health.
InnoVoyce's leadership includes Dr. Steven Zeitels and Dr. Robert Hillman, both renowned in the field of voice health. Their expertise, combined with CEO Michael Davin's experience, positions the company favorably in the MedTech industry.
- Clinical Need
-
Aspect: Very Strong
Summary: There is a significant unmet need in voice health, with many individuals suffering from voice disorders lacking effective treatment options.
Voice disorders affect a considerable portion of the population, yet advancements in treatment have been limited. InnoVoyce's focus on developing technologies for prevention, diagnosis, and treatment directly targets this underserved area.
- Competition
-
Aspect: First mover
Summary: InnoVoyce appears to be among the pioneers in integrating advanced laser technology specifically for voice health applications.
The company's VYLO 455nm Blue Light Laser System represents a novel approach in the treatment of voice disorders. While this positions InnoVoyce as an innovator, it also means they must invest in educating the market and establishing trust in their technology.
- Technical Challenge
-
Aspect: Predictable
Summary: The development of laser systems for medical applications is complex but follows established engineering and regulatory pathways.
InnoVoyce's achievement of FDA 510(k) clearance for their VYLO system suggests that they have effectively navigated the technical and regulatory challenges associated with medical device development.
- Patent
-
Aspect: Applied
Summary: Specific information regarding InnoVoyce's patent portfolio is not readily available.
While details are limited, it is essential for InnoVoyce to secure patents to safeguard their proprietary technologies and maintain a competitive edge in the market.
- Financing
-
Aspect: Well-funded
Summary: InnoVoyce has secured significant early-stage venture capital funding.
The company's successful funding round, raising $9.9 million, provides the necessary resources to advance their product pipeline and expand operations.
- Regulatory
-
Aspect: 510k/PMA
Summary: The VYLO 455nm Blue Light Laser System has received FDA 510(k) clearance.
Achieving FDA clearance demonstrates that InnoVoyce's product meets safety and efficacy standards, enabling them to market the device in the United States.
Opportunity Rollup
- Odds of Success
- 3.5
- Peak Market Share
- 4.2
- Segment CAGR
- 2.3%
- Market Segment
- ENT Devices
- Market Sub Segment
- Speech Aid Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.21 |
| 2 | 0.63 |
| 3 | 1.47 |
| 4 | 2.94 |
| 5 | 4.20 |
Key Takeaway
InnoVoyce, with its experienced team and innovative laser technology, is well-positioned to address the unmet needs in voice health, though it must navigate market education and adoption challenges.