DuraStat LLC
- Industry
- Medical Devices & Instruments
- Founded Year
- 0
- Headquarters
- Austin, Texas
- Employee Count
- 0
Key People
- Adam Azzara - CEO
- Greg Anderson, MD - Co-Inventor
- Mark Kurd, MD - Co-Inventor
- Kevin Foley, MD - Developer for Global Scalability
- Alex Lukianov - Developer for Global Scalability
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team includes experienced professionals with successful backgrounds in medical device innovation and commercialization.
The involvement of individuals like Alex Lukianov, founder and past chairman & CEO of NuVasive, and Kevin Foley, MD, a renowned spine surgeon, indicates a strong leadership team with a proven track record in the medical device industry.
- Clinical Need
-
Aspect: Very Strong
Summary: DuraStat addresses a significant clinical need by improving dural repair efficiency and quality in spine surgeries.
DuraStat's technology is designed to prevent persistent cerebrospinal fluid leaks following incidental durotomies, a common complication in spine surgery, thereby addressing a critical need in the field.
- Competition
-
Aspect: Somewhat crowded
Summary: The market for surgical tissue closure devices is competitive, with several established players.
The surgical tissue closure market includes various products from established companies, making it a competitive landscape for new entrants like DuraStat.
- Technical Challenge
-
Aspect: Predictable
Summary: The technology involves a moderate level of technical complexity, with predictable development pathways.
The device's design focuses on enhancing existing surgical techniques, suggesting a manageable level of technical challenge in its development and implementation.
- Patent
-
Aspect: Strong
Summary: DuraStat holds strong patent protection for its innovative surgical closure technology.
The unique approach to precision suturing and tissue approximation is protected by patents, safeguarding the company's innovations from competitors.
- Financing
-
Aspect: Well-funded
Summary: DuraStat has secured significant funding to support its growth and product development.
With over $5 million in Series B funding, DuraStat is equipped to enhance market penetration and launch new products, indicating strong financial health.
- Regulatory
-
Aspect: 510k/PMA
Summary: DuraStat's products have received necessary regulatory approvals for market entry.
The receipt of an Innovative Technology contract from Vizient and a Breakthrough Technology agreement with Premier, Inc. suggests that DuraStat's products meet regulatory requirements and are recognized for their innovation.
Opportunity Rollup
- Odds of Success
- 3.5
- Peak Market Share
- 4.4
- Segment CAGR
- 4.0%
- Market Segment
- General Surgery Devices
- Market Sub Segment
- Surgical Tissue Closure Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.22 |
| 2 | 0.66 |
| 3 | 1.54 |
| 4 | 3.08 |
| 5 | 4.40 |
Key Takeaway
DuraStat LLC, with its innovative surgical closure technologies and strategic partnerships, is well-positioned to address critical needs in spine surgery, though it faces challenges in a competitive market.