ONWARD Medical N.V.
- Industry
- Medical Devices & Equipment
- Founded Year
- 2014
- Headquarters
- Eindhoven, Netherlands
- Employee Count
- 103
Key People
- Dave Marver - Chief Executive Officer
- Amori Fraser - Finance Director
- Julien Camisani - Vice President, Engineering
- Bob Odell - Vice President, Operations
- Sean Sciara - Vice President, Marketing
- Sbastien Cros - Vice President, Communications
- Mark Landman - Vice President, Sales
- Alexandre Casteau - Head of Strategy & Corporate Development
- Julie Crom - Director, People & Culture
- Lorenzo Fanti - Vice President, Legal
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises seasoned professionals with extensive experience in the medical device industry.
The leadership team includes individuals with significant experience in medical technology and device development, enhancing the company's potential for successful product development and commercialization.
- Clinical Need
-
Aspect: Very Strong
Summary: ONWARD addresses a critical need for therapies to restore movement in individuals with spinal cord injuries.
Spinal cord injuries often result in permanent disability, and effective therapies are limited. ONWARD's innovations aim to fill this gap, offering hope to many patients.
- Competition
-
Aspect: First mover
Summary: ONWARD is pioneering in the field of spinal cord stimulation therapies with limited direct competition.
The company's innovative approach and early entry into the market position it ahead of potential competitors, allowing for brand establishment and market penetration.
- Technical Challenge
-
Aspect: Complex
Summary: Developing implantable neurostimulation systems involves significant technical complexities.
The intricate nature of neurostimulation technology requires advanced engineering and rigorous testing, which can extend development periods and increase expenses.
- Patent
-
Aspect: Strong
Summary: ONWARD has secured multiple patents for its ARC Therapy platforms.
Strong intellectual property protection safeguards ONWARD's innovations, deterring competitors and potentially increasing company valuation.
- Financing
-
Aspect: Well-funded
Summary: The company has successfully raised significant funding from reputable investors.
With substantial financial backing, ONWARD can continue its research, development, and market entry strategies without immediate financial constraints.
- Regulatory
-
Aspect: 510k/PMA
Summary: ONWARD's ARC-EX System has received FDA clearance for commercial sale in the US.
Achieving FDA clearance is a significant milestone, indicating the product's safety and efficacy, and enabling commercialization in the US market.
Opportunity Rollup
- Odds of Success
- 3.7
- Peak Market Share
- 5
- Segment CAGR
- 4.9%
- Market Segment
- Neurology Devices
- Market Sub Segment
- Neurostimulation Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.25 |
| 2 | 0.75 |
| 3 | 1.75 |
| 4 | 3.50 |
| 5 | 5.00 |
Key Takeaway
ONWARD Medical is well-positioned to address a significant unmet need in spinal cord injury therapies, supported by a strong team, innovative technology, and substantial funding.