Innodem Neurosciences
- Industry
- Digital Health and Artificial Intelligence
- Founded Year
- 2016
- Headquarters
- Montreal, Quebec, Canada
- Employee Count
- 18
Key People
- Dr. tienne de Villers-Sidani - Main Founder, Chief Executive Officer & Chief Scientific Officer
- Dr. Paul Giacomini - Chief Medical Officer
- Marc Reeves - Co-Founder & Chief Business Officer
- Yves Desgagn - Co-Founder & Chief Technology Officer
- Patrice Voss - Vice President of Neurosciences Research
- Alexandre Drouin-Picaro - Vice President, AI Research & Development
- Jean-Pierre Thivierge - Vice President, Project Management Office
- Francis Arseneau - Vice President, Clinical Trials & Operations
- Susan McIntosh - Vice President, Finance
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with backgrounds in neurology, software engineering, and business development.
The leadership team includes individuals with extensive experience in their respective fields, contributing to the company's strong foundation and potential for success.
- Clinical Need
-
Aspect: Very Strong
Summary: ETNA addresses a significant need for non-invasive, accessible tools to monitor neurodegenerative diseases.
By providing a mobile solution for monitoring diseases like multiple sclerosis, ETNA meets a critical demand in neurological care.
- Competition
-
Aspect: First mover
Summary: Innodem Neurosciences appears to be a pioneer in mobile eye-tracking technology for neurological assessments.
While leading the market offers advantages, it also requires significant effort in educating stakeholders and establishing trust.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing accurate eye-tracking algorithms and ensuring regulatory compliance are moderately complex tasks.
The successful development and preliminary validation of ETNA indicate the team's ability to manage technical complexities.
- Patent
-
Aspect: Very Strong
Summary: Innodem holds multiple patents for its eye-tracking technology.
The patents cover core aspects of the technology, potentially preventing competitors from easily replicating the solution.
- Financing
-
Aspect: Well-funded
Summary: The company has secured significant funding, including a multimillion-dollar agreement with Novartis.
The partnership with Novartis not only provides funding but also strategic support for market entry.
- Regulatory
-
Aspect: 510k/PMA
Summary: ETNA has received FDA Breakthrough Device Designation and Health Canada clearance.
Achieving these designations indicates the technology's potential and the company's commitment to meeting regulatory standards.
Opportunity Rollup
- Odds of Success
- 3.1
- Peak Market Share
- 3.65
- Segment CAGR
- 4.9%
- Market Segment
- Neurology Devices
- Market Sub Segment
- Digital Biomarkers
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.18 |
| 2 | 0.55 |
| 3 | 1.28 |
| 4 | 2.55 |
| 5 | 3.65 |
Key Takeaway
Innodem Neurosciences is well-positioned to capitalize on the growing need for innovative neurological assessment tools, supported by strong leadership, strategic partnerships, and a robust IP portfolio.