Solius

Key People

• Bob Wise - Chief Executive Officer
• Douglas Hansmann - Director
• Brian Spahnie - Vice President of Engineering
• Kevin Keithley - Head of Consumer Marketing
• Steve Lim - Director, Mobile Application Development
• Alison Wise - Clinical Research and Communications Manager

Assessment

Team

Aspect: First-time 10+ yrs
Summary: The leadership team comprises individuals with over a decade of experience in their respective fields, including technology and healthcare.

While the team brings significant experience, the absence of previous successful MedTech entrepreneurship may pose challenges in navigating the specific demands of the medical device market.

Clinical Need

Aspect: Good
Summary: Solius addresses vitamin D deficiency, a prevalent health issue, with its innovative light therapy solutions.

Vitamin D deficiency is widespread, and Solius's approach offers a non-invasive alternative. However, the market includes various supplements and therapies, which could impact adoption rates.

Competition

Aspect: Somewhat crowded
Summary: The market for vitamin D therapies includes numerous supplements and alternative treatments.

While Solius offers a novel solution, the presence of established products in the market may require significant efforts to capture market share.

Technical Challenge

Aspect: Moderate
Summary: Developing effective light therapy devices involves moderate technical complexity.

Creating devices that effectively stimulate vitamin D production without adverse effects involves moderate technical challenges, necessitating thorough research and development.

Patent

Aspect: Applied
Summary: Solius has applied for patents to protect its technology.

Securing patents would strengthen Solius's market position by protecting its proprietary technology from competitors.

Financing

Aspect: Medium
Summary: Solius has secured Series B funding, indicating moderate financial backing.

The current funding supports development and initial operations, but further investment may be required to achieve widespread market penetration.

Regulatory

Aspect: Pivotal Trial
Summary: Solius is conducting pivotal trials to validate its technology.

The completion and success of pivotal trials are essential steps toward obtaining regulatory approval, which is necessary for commercializing the product.

Opportunity Rollup

Odds of Success

3.1

Peak Market Share

4.5

Segment CAGR

5.4%

Market Segment

Medical Light Therapy

Market Sub Segment

Vitamin D Deficiency Treatment

Key Takeaway

Solius offers an innovative solution to a prevalent health issue but must navigate a competitive market and regulatory challenges to achieve success.