Aqua Heart, Inc.

Key People

• Dr. Holger Friedrich - CEO
• Greg Wilson - CFO
• Eric Fain, MD - Chairman
• Kevin Holbrook - VP Engineering
• Andrea Biffi - Director and Founder
• Philip Ebeling, PhD, BSE, MBA - Head of the Engineering Advisory Board
• Venkatakrishna Tholakanahalli, MD, FHRS - Consulting Medical Director
• Dr. Virender K Sharma - Founder, Inventor

Assessment

Team

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

Dr. Holger Friedrich, the CEO, has over 30 years of experience in medical devices, particularly in cardiovascular fields. The team includes individuals with significant roles in major medical device companies, indicating a strong foundation for Aqua Heart's endeavors.

Clinical Need

Aspect: Very Strong
Summary: Atrial fibrillation is a prevalent condition with significant health risks, underscoring the need for effective treatments.

Atrial fibrillation affects millions globally and is associated with increased risks of stroke and heart failure. Innovations that offer safer and more efficient treatments are highly valuable in this context.

Competition

Aspect: Very crowded + Strategics
Summary: The market features established players with significant resources and market share.

Companies like Medtronic, Abbott, and Boston Scientific have a strong presence in the atrial fibrillation treatment device market, making it difficult for new entrants to gain traction.

Technical Challenge

Aspect: Moderate
Summary: Developing a novel ablation catheter involves manageable technical complexities.

The development of high-energy, single-shot ablation technology requires innovation but is within reach for a team with substantial experience in medical device development.

Patent

Aspect: Very Strong
Summary: The company possesses a robust international patent portfolio.

Aqua Heart's extensive patent holdings provide a solid foundation for protecting its innovations and maintaining a competitive edge in the market.

Financing

Aspect: Medium
Summary: The company secured a $7 million seed round in 2022.

The seed funding indicates investor confidence but may not suffice for the extensive costs associated with clinical trials and market entry.

Regulatory

Aspect: Running FIH
Summary: Plans for first-in-human clinical trials were set for 2023.

Initiating first-in-human trials demonstrates the company's commitment to advancing its technology and is a critical step toward regulatory approval.

Opportunity Rollup

Odds of Success

3.95

Peak Market Share

4.95

Segment CAGR

4.5%

Market Segment

Cardiac Ablation Devices

Market Sub Segment

Pulmonary Vein Isolation Catheters

Key Takeaway

Aqua Heart, Inc. is well-positioned with a strong team and innovative technology to address a significant clinical need, but must navigate a competitive market and secure additional funding to achieve success.