Orchestra BioMed
- Industry
- Biomedical Innovation
- Founded Year
- 2017
- Headquarters
- New Hope, Pennsylvania, USA
- Employee Count
- 94
Key People
- David Hochman - Chief Executive Officer and Founder
- Darren Sherman - President, Chief Operating Officer, Director and Founder
- Steven Evans, M.D. - Medical Director, Bioelectronic Therapies
- Mark Pomeranz - General Manager and Executive Vice President, Interventional Therapies
- John Mack - Director
- Chris Cleary - Director
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with successful track records in the MedTech industry.
The leadership includes individuals like David Hochman and Darren Sherman, who have founded and led multiple successful MedTech ventures. Their combined experience in medical device development, commercialization, and strategic partnerships positions Orchestra BioMed favorably in the industry.
- Clinical Need
-
Aspect: Very Strong
Summary: The company's products address significant unmet needs in cardiovascular health.
Orchestra BioMed's flagship products, BackBeat CNT and Virtue SAB, target hypertension and artery disease, respectively. These conditions are leading causes of mortality worldwide, indicating a substantial clinical need for effective treatments.
- Competition
-
Aspect: Somewhat crowded
Summary: The cardiovascular device market has multiple players, but unique offerings can differentiate the company.
While the cardiovascular device sector is competitive, Orchestra BioMed's innovative approaches, such as the BackBeat CNT's bioelectronic treatment for hypertension, offer potential differentiation. Strategic partnerships with companies like Medtronic further enhance their competitive position.
- Technical Challenge
-
Aspect: Moderate
Summary: The development of bioelectronic therapies and drug-device combinations presents moderate technical challenges.
Developing therapies like BackBeat CNT involves integrating bioelectronic components with existing medical devices, which requires careful engineering and validation. However, the company's experienced team and strategic collaborations mitigate these challenges.
- Patent
-
Aspect: Strong
Summary: The company holds strong patents for its flagship products.
Orchestra BioMed has secured patents for technologies like BackBeat CNT and Virtue SAB, providing a competitive edge and potential barriers to entry for competitors.
- Financing
-
Aspect: Well-funded
Summary: The company has secured significant funding from reputable investors.
With over $110 million raised in Series D financing and additional investments from strategic partners like Medtronic and Ligand Pharmaceuticals, Orchestra BioMed is well-positioned financially to advance its product pipeline.
- Regulatory
-
Aspect: Pivotal Trial
Summary: The company's lead products are entering pivotal trials.
Orchestra BioMed plans to conduct global pivotal trials for BackBeat CNT and Virtue SAB, essential for obtaining regulatory approvals and subsequent market entry.
Opportunity Rollup
- Odds of Success
- 3.55
- Peak Market Share
- 4.4
- Segment CAGR
- 4.4%
- Market Segment
- Cardiovascular Devices
- Market Sub Segment
- Hypertension Treatment Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.22 |
| 2 | 0.66 |
| 3 | 1.54 |
| 4 | 3.08 |
| 5 | 4.40 |
Key Takeaway
Orchestra BioMed, with its experienced team and innovative products addressing significant clinical needs, is well-positioned in the cardiovascular device market, supported by strong financial backing and strategic partnerships.