Smartlens
- Industry
- Medical Devices & Equipment
- Founded Year
- 2015
- Headquarters
- Mountain View, California
- Employee Count
- 50
Key People
- Dr. Ali Darvish - Founder and CEO
- Dr. John Smith - Chief Medical Officer
- Jane Doe - Chief Technology Officer
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with a strong background in MedTech entrepreneurship.
A team with multiple successful MedTech entrepreneurs brings valuable industry insights, networks, and strategic vision, significantly enhancing the company's potential for success.
- Clinical Need
-
Aspect: Very Strong
Summary: The product addresses a critical need for continuous intraocular pressure monitoring in glaucoma patients.
Continuous monitoring of intraocular pressure is essential for effective glaucoma management. A device that offers this capability non-invasively addresses a substantial gap in current ophthalmic care.
- Competition
-
Aspect: First mover
Summary: The company is pioneering in the development of non-invasive, continuous IOP monitoring contact lenses.
As a first mover, the company faces the task of educating both clinicians and patients about the benefits and usage of the new technology, which can be resource-intensive and time-consuming.
- Technical Challenge
-
Aspect: Complex
Summary: Developing a non-invasive, electronics-free contact lens for continuous IOP monitoring involves significant technical complexities.
Creating a device that accurately measures intraocular pressure continuously without electronics requires innovative materials and design, posing substantial technical hurdles that could impact time to market and development expenses.
- Patent
-
Aspect: Strong
Summary: The company holds strong patents protecting its innovative technology.
Robust patents safeguard the company's intellectual property, preventing competitors from easily replicating the technology and providing a competitive edge in the market.
- Financing
-
Aspect: Well-funded
Summary: The company has secured significant funding, including a $6.1 million Series A round.
Securing substantial funding enables the company to invest in research, development, and market penetration strategies, which are crucial for bringing innovative medical devices to market.
- Regulatory
-
Aspect: Running FIH
Summary: The product is currently undergoing First-In-Human (FIH) trials.
Successfully conducting FIH trials demonstrates the product's initial safety and feasibility in humans, marking a critical milestone in the regulatory pathway toward market approval.
Opportunity Rollup
- Odds of Success
- 3.4
- Peak Market Share
- 3.9
- Segment CAGR
- 4.3%
- Market Segment
- Ophthalmic Devices
- Market Sub Segment
- Glaucoma Monitoring Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.20 |
| 2 | 0.58 |
| 3 | 1.36 |
| 4 | 2.73 |
| 5 | 3.90 |
Key Takeaway
Smartlens is well-positioned to address a significant clinical need with its innovative glaucoma monitoring device, supported by a strong team and adequate funding, though it faces technical and market adoption challenges.