Loci Orthopaedics
- Industry
- Orthopaedic Medical Devices
- Founded Year
- 2017
- Headquarters
- Galway, Ireland
- Employee Count
- 32
Key People
- Dr. Brendan Boland - Co-founder and Executive Chairperson
- Gerry Clarke - Co-founder and Chief Technology Officer
- Barry Russell - Chief Executive Officer
Assessment
- Team
-
Aspect: First-time physician innovator
Summary: The leadership team comprises first-time entrepreneurs with significant medical and engineering backgrounds.
Dr. Brendan Boland and Gerry Clarke, both co-founders, have substantial experience in the medical and engineering fields, respectively. However, their entrepreneurial experience is limited, which may pose challenges in navigating the business aspects of the medical device industry.
- Clinical Need
-
Aspect: Very Strong
Summary: Thumb base joint arthritis affects a significant portion of the population, indicating a substantial unmet clinical need.
Over 30 million people in the EU and 20 million in the U.S. are affected by thumb base joint arthritis. This condition leads to significant pain and functional impairment, highlighting a strong need for innovative solutions like the InDx Implant System.
- Competition
-
Aspect: Somewhat crowded
Summary: The market for thumb base joint arthritis treatments has existing solutions, but opportunities for innovation remain.
Current treatments for thumb base joint arthritis include various surgical options and implants. However, many existing implants are prone to dislocation and movement post-implantation. The InDx Implant System aims to replicate the natural biomechanics of the thumb joint, potentially addressing these limitations.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing an implant that accurately mimics natural thumb biomechanics presents moderate technical challenges.
The thumb base joint allows for a wide range of motions, making it challenging to design an implant that replicates these movements. The InDx Implant System's design incorporates two points of rotation to mimic natural thumb motion, addressing this technical challenge.
- Patent
-
Aspect: Very Strong
Summary: Loci Orthopaedics holds a robust patent portfolio for the InDx Implant System.
The company has been granted six individual patents for its implant system to treat thumb base joint arthritis, making it the holder of one of the largest CMC joint implant patent portfolios. This includes patents for the core design, implantation set, and various design elements.
- Financing
-
Aspect: Well-funded
Summary: The company has secured substantial funding to support its development and commercialization efforts.
In July 2024, Loci Orthopaedics closed an oversubscribed 12.8 million Series A financing round, led by investors such as Seroba, Johnson & Johnson Innovation, and the European Innovation Council Fund. This brings the total grant and equity financing raised to over 22 million, enabling the company to advance clinical programs and prepare for regulatory submissions.
- Regulatory
-
Aspect: Pivotal Trial
Summary: The company is progressing through clinical trials to support regulatory approvals.
Loci Orthopaedics completed enrollment of a 15-patient clinical study for its InDx Implant System in October 2023. The study aims to evaluate surgical implantation and improvements in pain, grip, and quality of life for those affected by thumb base joint arthritis. The company plans to publish results and submit regulatory approval applications in the US and EU.
Opportunity Rollup
- Odds of Success
- 3.45
- Peak Market Share
- 4.65
- Segment CAGR
- 3.0%
- Market Segment
- Orthopedic Devices
- Market Sub Segment
- Extremity Implants
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.23 |
| 2 | 0.70 |
| 3 | 1.63 |
| 4 | 3.25 |
| 5 | 4.65 |
Key Takeaway
Loci Orthopaedics' InDx Implant System addresses a significant unmet clinical need with a strong patent portfolio and substantial funding, positioning it well in the orthopedic devices market.