Calon Cardio-Technology

Key People

• Professor Steve Westaby - Founder and Director
• Stuart McConchie - Chief Executive Officer

Assessment

Team

Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with significant expertise in medical technology and cardiovascular devices.

Professor Steve Westaby, a renowned cardiac surgeon, and Stuart McConchie, with a background in medical device leadership, bring a wealth of knowledge and experience to Calon Cardio-Technology. Their combined expertise enhances the company's credibility and potential for success in the competitive medical device industry.

Clinical Need

Aspect: Very Strong
Summary: The MiniVAD addresses a critical need for advanced treatment options in severe heart failure cases.

Heart failure affects millions globally, with limited treatment options for severe cases. The MiniVAD offers a promising solution by enhancing cardiac function and potentially improving quality of life for patients who are not candidates for heart transplants.

Competition

Aspect: Somewhat crowded
Summary: The LVAD market includes established players, but Calon's MiniVAD offers differentiating features.

The LVAD market is populated by companies like Abbott and Medtronic. However, Calon's MiniVAD has demonstrated a significant reduction in blood damage compared to current devices, which could position it favorably in the market.

Technical Challenge

Aspect: Moderate
Summary: Developing and integrating advanced LVAD technology presents moderate technical challenges.

The successful in vitro studies and pre-clinical trials indicate promising technical capabilities. However, transitioning to human clinical trials and ensuring long-term device reliability remain challenges that need to be addressed.

Patent

Aspect: Strong
Summary: Calon holds a suite of patents and patent applications protecting its MiniVAD technology.

The company's technology is protected by a suite of patents and patent applications, providing a strong intellectual property foundation that can deter competitors and attract investors.

Financing

Aspect: Medium
Summary: Calon has secured over 20 million in equity and grant funding to date.

The company's ability to raise significant funds demonstrates investor confidence. However, the termination of the proposed acquisition by Ashington Innovation PLC indicates potential challenges in securing large-scale investments, which could impact future growth and development plans.

Regulatory

Aspect: Running FIH
Summary: Calon is progressing towards first-in-human (FIH) trials for the MiniVAD.

The company's progression towards FIH trials indicates a commitment to meeting regulatory requirements and advancing the MiniVAD towards market approval. Successful completion of these trials will be crucial for subsequent regulatory submissions and commercialization efforts.

Opportunity Rollup

Odds of Success

4.05

Peak Market Share

5.3

Segment CAGR

5.8%

Market Segment

Cardiac Assist Devices

Market Sub Segment

Left Ventricular Assist Devices (LVADs)

Key Takeaway

Calon Cardio-Technology's MiniVAD addresses a significant clinical need in heart failure treatment, supported by a strong team and patent portfolio. However, financial challenges and a competitive market landscape present obstacles to commercialization.