Rhinostics Inc.
- Industry
- Medical Devices
- Founded Year
- 2020
- Headquarters
- Waltham, Massachusetts, United States
- Employee Count
- 6
Key People
- Cheri Walker, PhD - President and CEO
- Anna Couturier Simpson - CTO and VP of Operations
- Richard Novak - Co-founder
- Kristen A. - Vice President of Sales
- John Picciano - Senior Director - US Field Sales
- Lemar Ashhar - Senior Director, US Field Sales
- Anne Marie Sullivan - Director of Inside Sales & Sales Operations
-
Kelly McKeon - Vice President, International Sales and Distribution
Email: k****@rhinostics.com
Assessment
- Team
-
Aspect: First-time 10+ yrs
Summary: The leadership team comprises individuals with over a decade of experience in their respective fields, including sales, operations, and product development.
The leadership team's background suggests a strong foundation in sales, operations, and product development, which are critical for the company's growth and success.
- Clinical Need
-
Aspect: Very Strong
Summary: Rhinostics addresses a significant need for efficient and automated sample collection solutions in laboratory workflows.
By streamlining sample collection and processing, Rhinostics' solutions reduce labor costs and error rates, enhancing overall laboratory efficiency.
- Competition
-
Aspect: First mover
Summary: Rhinostics appears to be an early entrant in the automated sample collection market, with limited direct competition.
The company's innovative approach to sample collection positions it ahead of potential competitors, allowing it to capture market share early.
- Technical Challenge
-
Aspect: Predictable
Summary: The technical challenges associated with developing automated sample collection devices are manageable and well-understood.
Rhinostics' products integrate with standard laboratory equipment, suggesting that technical hurdles are predictable and can be effectively addressed.
- Patent
-
Aspect: Very Strong
Summary: Rhinostics holds patent-pending status for its innovative sample collection devices.
The patent-pending status indicates that Rhinostics has developed unique technologies, providing a barrier to entry for competitors.
- Financing
-
Aspect: Well-funded
Summary: The company has secured multiple rounds of funding, including Series A and A-2, from reputable investors.
The financial backing from investors like Shadow Capital, Covid Apollo Project, and Avestria Ventures provides the necessary resources for growth and scaling operations.
- Regulatory
-
Aspect: 510k/PMA
Summary: Rhinostics' products are registered as Class I exempt medical devices with the FDA.
Class I exempt status indicates that the products meet safety and effectiveness standards, simplifying the regulatory pathway for commercialization.
Opportunity Rollup
- Odds of Success
- 4.3
- Peak Market Share
- 6.2
- Segment CAGR
- 1.9%
- Market Segment
- In Vitro Diagnostics
- Market Sub Segment
- Sample Collection Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.31 |
| 2 | 0.93 |
| 3 | 2.17 |
| 4 | 4.34 |
| 5 | 6.20 |
Key Takeaway
Rhinostics Inc. is well-positioned to capitalize on the growing demand for automated sample collection solutions, with strong leadership, innovative products, and solid financial backing.