Bayou Surgical

Key People

• Sharad H. Joshi - CEO
• Ashok Gowda, PhD - Founder and CEO, Biotex, Inc.
• Bryan M. Burt, MD, FACS - Co-Founder
• Manish Ahuja - Chief Technology Officer, Biotex, Inc.
• Andre Marquette - Vice President, Business Development, Biotex, Inc.
• Charles Houssiere - Chief Design Officer, Biotex, Inc.

Assessment

Team

Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises seasoned professionals with extensive experience in medical device development and commercialization.

The CEO, Sharad H. Joshi, has over 35 years in the medical device field, including leadership roles at NanoDx and Microline. Co-founder Dr. Bryan Burt is a professor and chief of thoracic surgery at UCLA, bringing clinical expertise. Founder Dr. Ashok Gowda has led Biotex, Inc., successfully bringing early-stage technologies to market.

Clinical Need

Aspect: Very Strong
Summary: The troCarWash system addresses a significant issue in minimally invasive surgeries by maintaining clear endoscopic vision.

Impaired visualization during laparoscopic procedures is a common problem, with studies indicating that 37% of surgeries are performed with compromised vision. The troCarWash system's ability to maintain clear vision without removing the endoscope addresses this critical need.

Competition

Aspect: First mover
Summary: Bayou Surgical appears to be pioneering in automated endoscope cleaning systems for minimally invasive surgeries.

While the troCarWash system offers a novel solution, the lack of direct competitors suggests a nascent market. This can lead to challenges in educating the market and driving adoption but also offers the advantage of establishing brand dominance.

Technical Challenge

Aspect: Predictable
Summary: The development of the troCarWash system involves integrating existing technologies in a novel application.

The system combines known mechanical and fluid dynamics principles to achieve its function. The team's background in medical device development suggests a high likelihood of overcoming technical challenges.

Patent

Aspect: Strong
Summary: Bayou Surgical holds multiple patents related to intraoperative endoscope cleaning systems.

The company has at least four granted patents and additional pending applications covering various aspects of the troCarWash system, indicating a strong intellectual property position.

Financing

Aspect: Medium
Summary: Bayou Surgical has secured significant funding through Series A and seed rounds.

The company raised $913,000 in a seed round in October 2020 and $7.34 million in a Series A round in August 2022, totaling over $8 million in funding.

Regulatory

Aspect: 510k/PMA
Summary: The troCarWash system is likely subject to FDA 510(k) clearance.

As a Class II medical device, the troCarWash system would require FDA 510(k) clearance, demonstrating substantial equivalence to a legally marketed device. The company's experience in medical device development suggests preparedness for this process.

Opportunity Rollup

Odds of Success

3.45

Peak Market Share

4.4

Segment CAGR

10.7%

Market Segment

Surgical Devices

Market Sub Segment

Endoscopy Devices

Key Takeaway

Bayou Surgical's troCarWash system addresses a critical need in minimally invasive surgeries, supported by a strong team and patent portfolio, positioning the company well in a growing market segment.