Element Science, Inc.

Industry
Medical Equipment Manufacturing
Founded Year
2013
Headquarters
200 Kansas St Ste 210, San Francisco, California, 94103, United States
Employee Count
123

Key People

Assessment

Team
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with successful backgrounds in MedTech startups and established companies.

Element Science's leadership includes individuals with significant experience in the medical device industry. For instance, Uday Kumar, the Founder and CEO, previously founded iRhythm Technologies, a successful MedTech company. This depth of experience positions the company well for navigating the complexities of medical device development and commercialization.

Clinical Need
Aspect: Very Strong
Summary: The company's wearable defibrillator addresses a critical need for patients at risk of sudden cardiac death.

Sudden cardiac death is a leading cause of mortality, with over 300,000 deaths annually in the U.S. alone. Element Science's Jewel Patch Wearable Cardioverter Defibrillator offers a non-invasive, patient-friendly solution for individuals at temporary elevated risk, filling a crucial gap in current treatment options.

Competition
Aspect: Somewhat crowded
Summary: The market for wearable defibrillators includes established players, but opportunities exist for innovation.

The wearable defibrillator market features competitors like Zoll's LifeVest. However, Element Science's focus on user-centric design and integration of machine learning algorithms may provide a competitive edge by enhancing patient compliance and device efficacy.

Technical Challenge
Aspect: Moderate
Summary: Developing a wearable defibrillator involves moderate technical challenges, including device miniaturization and algorithm development.

Creating a wearable defibrillator requires balancing device size, comfort, and functionality. Additionally, developing accurate algorithms to detect and treat arrhythmias is complex. However, the team's expertise in medical device development and data science positions them well to address these challenges.

Patent
Aspect: Strong
Summary: The company has secured strong patent protection for its wearable defibrillator technology.

Element Science has obtained patents covering key aspects of its Jewel Patch Wearable Cardioverter Defibrillator, including device design and algorithmic functionalities. This intellectual property portfolio provides a barrier to entry for competitors and supports the company's market position.

Financing
Aspect: Well-funded
Summary: The company has raised significant funding, including a $146 million Series C round in March 2020.

Element Science has secured substantial funding from reputable investors, totaling over $263 million across multiple funding rounds. This financial support enables the company to advance product development, conduct clinical trials, and pursue regulatory approvals necessary for market entry.

Regulatory
Aspect: 510k/PMA
Summary: The Jewel Patch Wearable Cardioverter Defibrillator received FDA approval in May 2025.

Achieving FDA approval for the Jewel Patch Wearable Cardioverter Defibrillator indicates that the device meets safety and efficacy standards. This regulatory clearance allows Element Science to market the product in the U.S., addressing a critical need for patients at risk of sudden cardiac death.

Opportunity Rollup

Odds of Success
3.4
Peak Market Share
4.3
Segment CAGR
9.1%
Market Segment
Cardiac Rhythm Management Devices
Market Sub Segment
Wearable Cardioverter Defibrillators
Year Post Launch Market Penetration (%)
1 0.22
2 0.64
3 1.50
4 3.01
5 4.30

Key Takeaway

Element Science's innovative wearable defibrillator addresses a critical clinical need, supported by a strong team and substantial funding, positioning the company for significant impact in the cardiac care market.