Piomic Medical AG

Key People

• Christopher Hertz - Chief Executive Officer
• Martin Walti - Chief Operations Officer
• Bernard Laurel - President U.S. Subsidiary
• Jari Kruth - Chief Technology Officer
• Dr. Jrg Frhlich - Chief Scientific Officer
• Adrian Meier - Head of Quality Assurance / Regulatory Affairs
• Rejelle Williams - Head of Clinical Development
• Monika Regg - Lead Finance & Administration
• Philipp Affeltranger - Lead Hardware/Software Engineer
• Mario Brckel - Software Engineer
• Gregory Wasilewski - Clinical Research Associate (Trainee)
• Bertrand Hughes - Chairman of the Board
• Dr. Peter Hostettler - Vice Chairman of the Board
• Dominique Boulet - Board Member
• Karina Candrian - Board Member
• Andy Weymann - Advisor
• Dr. Med. Jrg Traber - Advisor
• Maria Signer - Advisor
• Prof. Dr. Joachim Dissemond - Advisor

Assessment

Team

Aspect: First-time 10+ yrs
Summary: The leadership team comprises experienced professionals with over a decade in their respective fields.

The leadership team at Piomic Medical AG includes individuals with significant experience in medical device development and business operations. For instance, CEO Christopher Hertz and CTO Jari Kruth have backgrounds that contribute to the company's innovative approach in wound care solutions. This depth of experience positions the company well for navigating the complexities of the medical device industry.

Clinical Need

Aspect: Very Strong
Summary: Piomic addresses a critical need in treating chronic leg and foot ulcers, conditions with high prevalence and significant healthcare costs.

Chronic leg and foot ulcers affect millions globally, leading to severe complications and high treatment costs. Piomic's COMS One Therapy System offers a non-invasive solution that integrates optical and magnetic stimulation to promote healing. This innovative approach addresses a significant unmet need, potentially reducing the burden on healthcare systems and improving patient outcomes.

Competition

Aspect: Somewhat crowded
Summary: The wound care market is competitive, with several established players offering various treatment modalities.

The advanced wound care market includes numerous companies providing treatments ranging from traditional dressings to advanced therapies. Piomic's COMS One Therapy System differentiates itself by combining optical and magnetic stimulation, offering a novel approach. However, gaining market share will require demonstrating superior efficacy and cost-effectiveness compared to existing solutions.

Technical Challenge

Aspect: Moderate
Summary: Developing and validating a novel medical device involves moderate technical challenges, including ensuring safety and efficacy.

The COMS One Therapy System's integration of optical and magnetic stimulation requires careful engineering to ensure consistent performance and patient safety. Additionally, clinical validation is necessary to substantiate claims of efficacy. These challenges are typical in the development of new medical devices but are manageable with a skilled team and adequate resources.

Patent

Aspect: Strong
Summary: Piomic has secured strong patent protection for its COMS One Therapy System, safeguarding its innovative technology.

Securing patents for the COMS One Therapy System provides Piomic with a competitive edge by protecting its unique technology from imitation. This intellectual property strategy is crucial for attracting investors and establishing partnerships, as it underscores the company's commitment to innovation and market leadership.

Financing

Aspect: Medium
Summary: Piomic has raised approximately $7.88 million in funding, indicating moderate financial backing.

The funds raised to date have supported product development and initial market entry. However, expanding market presence, conducting further clinical studies, and scaling manufacturing will require additional investment. Engaging with strategic investors and exploring funding opportunities will be essential for sustained growth.

Regulatory

Aspect: 510k/PMA
Summary: Piomic has achieved CE certification for its device and is pursuing FDA approval in the U.S.

Obtaining CE certification allows Piomic to market its device in Europe, demonstrating compliance with safety and performance standards. Pursuing FDA approval involves rigorous evaluation but is necessary for entry into the U.S. market. Successfully navigating these regulatory processes will be pivotal for the company's expansion and credibility.

Opportunity Rollup

Odds of Success

3.35

Peak Market Share

4.7

Segment CAGR

5.4%

Market Segment

Wound Care Management

Market Sub Segment

Advanced Wound Care Devices

Key Takeaway

No key takeaway provided.