NeuraLace Medical

Key People

• Keith Warner - Chief Executive Officer
• Joe Milkovits - Chief Technical Officer & Chief Operating Officer
• Marshall Bedder, MD - Chairman, Medical Advisory Board
• Chris Morano - Vice President of Sales
• Sean Bartlett - Director of Therapy
• Melissa Petzel - Senior Clinical Field Specialist
• Shiv Shukla - Founder & President
• Mike Houlihan - Vice President of Finance

Assessment

Team

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

The leadership team includes individuals like Keith Warner, who has over 25 years of experience in the life sciences and medical technology sectors, and Joe Milkovits, an experienced CTO with a focus on commercializing core technology. Their backgrounds suggest a strong capability to drive the company's growth and innovation.

Clinical Need

Aspect: Very Strong
Summary: Chronic neuropathic pain is a significant and growing health concern, with limited effective non-invasive treatment options.

NeuraLace Medical's Axon Therapy targets chronic neuropathic pain, a condition affecting millions with few effective non-invasive treatments. The therapy's non-opioid, non-invasive approach offers a promising alternative to traditional pain management methods, aligning with the urgent need for safer pain relief solutions.

Competition

Aspect: Somewhat crowded
Summary: The market for pain management devices includes several established players, but NeuraLace's non-invasive approach differentiates it.

The pain management device market features numerous companies offering various solutions. However, NeuraLace Medical's Axon Therapy stands out due to its non-invasive, magnetic peripheral nerve stimulation technology, potentially providing a safer and more effective alternative to existing treatments.

Technical Challenge

Aspect: Predictable
Summary: The technology involves established principles of magnetic nerve stimulation, reducing technical uncertainties.

Axon Therapy utilizes magnetic peripheral nerve stimulation, a concept grounded in well-understood scientific principles. This predictability in the technology's mechanism of action reduces the likelihood of unforeseen technical challenges during development and deployment.

Patent

Aspect: Strong
Summary: The company holds patents protecting its unique non-invasive neuromodulation technology.

NeuraLace Medical has secured patents for its Axon Therapy technology, safeguarding its innovative approach to non-invasive pain management. This strong IP portfolio not only protects the company's market position but also adds value in potential partnerships or acquisition scenarios.

Financing

Aspect: Medium
Summary: The company has secured funding through multiple rounds, indicating investor confidence.

NeuraLace Medical has raised funds through several investment rounds, including a Series A in September 2021. This financial backing reflects investor confidence and provides the necessary resources for product development, clinical trials, and market entry strategies.

Regulatory

Aspect: 510k/PMA
Summary: Axon Therapy received FDA 510(k) clearance in 2021, facilitating market entry.

The FDA's 510(k) clearance of Axon Therapy in 2021 allows NeuraLace Medical to market its device in the U.S. This regulatory milestone is crucial for commercialization and demonstrates the therapy's safety and efficacy in treating chronic neuropathic pain.

Opportunity Rollup

Odds of Success

3.65

Peak Market Share

4.9

Segment CAGR

4.9%

Market Segment

Neurology Devices

Market Sub Segment

Pain Management Devices

Key Takeaway

NeuraLace Medical's Axon Therapy offers a promising non-invasive solution for chronic neuropathic pain, addressing a significant clinical need with strong market potential.