Versono Medical
- Industry
- Medical Device
- Founded Year
- 2018
- Headquarters
- Galway, Ireland
- Employee Count
- 22
Key People
- Finbar Dolan - Co-founder and CEO
- Hugh O'Donoghue - Co-founder
- John O'Shaughnessy - Chairman
Assessment
- Team
-
Aspect: First-time 10+ yrs
Summary: The founding team comprises individuals with over a decade of experience in the MedTech industry.
The co-founders, Finbar Dolan and Hugh O'Donoghue, have significant experience in the MedTech sector, which is crucial for navigating the complexities of medical device development and commercialization.
- Clinical Need
-
Aspect: Very Strong
Summary: The company addresses a critical unmet need in treating complex chronic total occlusions.
Versono Medical focuses on developing technologies for endovascular treatment of complex chronic total occlusions, a major challenge in peripheral arterial disease management, affecting millions globally.
- Competition
-
Aspect: Somewhat crowded
Summary: The market has existing players, but opportunities exist for innovative solutions.
While there are established companies in the endovascular device market, Versono's unique ultrasonic technology offers a novel approach that could provide a competitive edge.
- Technical Challenge
-
Aspect: Complex
Summary: Developing ultrasonic technology for vascular occlusions presents significant technical challenges.
The development of intravascular ultrasonic systems to cross complex occlusions involves intricate engineering and regulatory challenges, requiring substantial R&D efforts.
- Patent
-
Aspect: Strong
Summary: The company has a robust patent portfolio supporting its technology.
Versono Medical holds multiple patents related to its ultrasonic technology, providing intellectual property protection and potential barriers to entry for competitors.
- Financing
-
Aspect: Medium
Summary: The company has secured significant funding but may require additional capital for commercialization.
Versono Medical raised 6.7 million in funding from a mix of investors, including DHKN, BVP, and state agencies, indicating strong financial backing but highlighting the need for continued investment.
- Regulatory
-
Aspect: Pivotal Trial
Summary: The company is conducting pivotal trials, a critical step towards regulatory approval.
Versono Medical has initiated the FREEFLOW pivotal study for its FastWire System, aiming to demonstrate safety and efficacy to obtain regulatory approval for market launch.
Opportunity Rollup
- Odds of Success
- 3.6
- Peak Market Share
- 5
- Segment CAGR
- 4.4%
- Market Segment
- Peripheral Vascular Devices
- Market Sub Segment
- Endovascular Treatment of Chronic Total Occlusions
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.25 |
| 2 | 0.75 |
| 3 | 1.75 |
| 4 | 3.50 |
| 5 | 5.00 |
Key Takeaway
Versono Medical is well-positioned to address a significant clinical need with its innovative technology, but must navigate technical, regulatory, and competitive challenges to achieve market success.