Phantom Neuro
- Industry
- Neurotechnology
- Founded Year
- 2020
- Headquarters
- Austin, Texas, United States
- Employee Count
- 16
Key People
- Dr. Connor Glass - Founder and CEO
- Robert Lord - Board Member
- Ed Michael - Board Observer
- Oliver Jakobi - Board Member
Assessment
- Team
-
Aspect: First-time physician innovator
Summary: Led by Dr. Connor Glass, a physician innovator with a strong background in neurotechnology.
Dr. Glass's medical background and innovative approach position the company well in the neurotechnology sector.
- Clinical Need
-
Aspect: Very Strong
Summary: Addresses a critical need for intuitive control of prosthetic limbs and robotic exoskeletons.
Phantom Neuro's solutions aim to restore natural movement for amputees, addressing a substantial clinical gap.
- Competition
-
Aspect: First mover
Summary: Pioneering minimally invasive neural interfaces with limited direct competition.
The company's unique approach positions it ahead of potential competitors in the neurotechnology space.
- Technical Challenge
-
Aspect: Complex
Summary: Developing high-accuracy, minimally invasive neural interfaces presents significant technical challenges.
Achieving precise control with minimally invasive methods requires overcoming substantial technical hurdles.
- Patent
-
Aspect: Applied
Summary: Patent applications are in progress for the Phantom X technology.
While patents are applied for, the lack of granted patents may pose risks in protecting intellectual property.
- Financing
-
Aspect: Well-funded
Summary: Secured $28 million in funding, including a $19 million Series A led by Ottobock.
The substantial funding enables the company to advance clinical trials and commercialization efforts effectively.
- Regulatory
-
Aspect: Running FIH
Summary: Preparing for first-in-human trials with FDA Breakthrough Device and TAP designations.
While FDA designations are positive, the company is in the early phases of regulatory approval, which carries inherent risks.
Opportunity Rollup
- Odds of Success
- 3.75
- Peak Market Share
- 5.6
- Segment CAGR
- 4.9%
- Market Segment
- Neurology Devices
- Market Sub Segment
- Neurotechnology Interfaces
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.28 |
| 2 | 0.84 |
| 3 | 1.96 |
| 4 | 3.92 |
| 5 | 5.60 |
Key Takeaway
Phantom Neuro's innovative approach positions it well in the growing neurotechnology market, though technical and regulatory challenges remain.