Boarding PassPylon Medical raises a total of $1.2 million to take on carotid obstructions and strokes
Boarding Pass
Pylon Medical raises a total of $1.2 million to take on carotid obstructions and strokes
The company was born out of the MEDX Xelerator to address the unmet need in the medical field for safer and more effective access to the carotid artery for procedures
“The idea for Pylon Medical was born from the recognition of an unmet need in the medical field for safer and more effective access to the carotid artery for procedures such as stenting,” explained founder Or Zigelboim. “This was driven by the complexities and risks associated with traditional methods and the desire to improve patient outcomes and procedural efficiency.”
Pylon Medical has developed a streamlined carotid access solution that features a safe closure device to treat carotid obstructions and strokes. According to the company, the market for carotid artery intervention devices is estimated at $1.6 billion, with the global carotid stenting market expected to grow due to the increasing prevalence of cardiovascular diseases. The company took part in the MEDX Xelerator program in January 2023 and has raised a total of $1.2 million to date, most recently securing $300,000 in July 2024.
“The need for the product arises from the limitations of current methods for accessing the carotid artery, which can involve complex and risky procedures,” he continued. “Pylon Medical's solution aims to provide a percutaneous transcarotid access method that is safer, less invasive, and reduces the risk of complications.”
You can learn more about the company below.
Company Name: Pylon Medical
Sector: Healthcare
Product/Service description:
Pylon Medical develops a streamlined, in-and-out carotid access Solution featuring a safe and user-friendly closure device.
Our innovative approach transforms the treatment of carotid obstructions and strokes, aiming to increase the number of Patients treated in minimally invasive techniques
Founder Bios:
Or is an experienced mechanical engineer, project manager, and VP of R&D with over 15 years of experience in the medical device field. He has held leading positions in the development of numerous exciting projects, ranging from aortic aneurysm stents, blood augmentation device to reduce, brain edema, and cardiac lead extractions. Throughout his career, Or has gained extensive experience in R&D, regulatory affairs, product management, clinical affairs, and the production of medical devices, taking companies from the R&D stage to FDA and CE approval. Or holds a B.Sc. in Mechanical Engineering from Tel Aviv University.
Year of Founding: 2023
Last Investment Round: $300,000
Last Investment Stage: Seed
Date of Last Investment: July 2024
Total investment to date: $1.2 Million
Investors: MEDX Xelerator and partners
Current number of employees: 4
Open positions: 0
Social Media:
https://www.linkedin.com/company/pylon-medical/
How was the idea born?
MEDX approached me with an unmet need that was established by the incubator partners. The idea for Pylon Medical was born from the recognition of an unmet need in the medical field for safer and more effective access to the carotid artery for procedures such as stenting. This was driven by the complexities and risks associated with traditional methods and the desire to improve patient outcomes and procedural efficiency.
What is the need for the product?
The need for the product arises from the limitations of current methods for accessing the carotid artery, which can involve complex and risky procedures. Traditional femoral access can be problematic due to anatomical challenges and the potential for embolic events. Pylon Medical's solution aims to provide a percutaneous transcarotid access method that is safer, less invasive, and reduces the risk of complications.
How is it changing the market?
Pylon Medical's innovative approach is changing the market by offering a new, safer method for carotid artery access. This can lead to reduced procedural times, lower complication rates, and improved patient outcomes. By simplifying the process, it also opens up the possibility for a wider range of medical professionals to perform these procedures, potentially increasing the overall market size.
How big is the market for the product and who are its main customers?
The market for carotid artery intervention devices is significant, estimated at $1.6 billion, with the global carotid stenting market expected to grow substantially due to the increasing prevalence of cardiovascular diseases. Main customers include hospitals, medical centers, and clinics that perform vascular surgeries and interventions. The target audience primarily consists of vascular surgeons, interventional cardiologists, and radiologists.
Does the product exist already? If not - at what stage is it and when is it expected to hit the market?
The product is currently in the development stage. Pylon Medical has conducted preclinical trials and is working on refining the design and functionality of the device. Pylon Medical is in the process of conducting further tests and seeking regulatory approvals, with the initiation of clinical trials planned for early 2026.
Who are the main competitors in this sector and how big are they?
Main competitors in this sector include established medical device companies like Silk Road Medical, which offers the TCAR (TransCarotid Artery Revascularization) system, and other companies developing similar transcarotid access technologies. These companies are significant players in the vascular intervention market, each with substantial resources and market presence. However, Pylon Medical's competitors require a cut down at the neck, while Pylon offers a minimally invasive approach.
What is the added value that the founders bring to the company and the product?
The founders of Pylon Medical bring a wealth of knowledge and experience in the medical device industry. They have a proven track record in developing and bringing medical devices to market, extensive expertise in R&D, and regulatory affairs, and strong connections within the medical community. This network includes key opinion leaders and potential strategic partners, which is crucial for the company's growth and success.
What will the money coming in from the round be used for?
The funds raised in the current round will be primarily used for R&D to refine and finalize the product design, conduct necessary preclinical and clinical trials, and achieve regulatory pathway. Additionally, funds will be allocated for hiring key personnel, marketing efforts to create awareness and demand for the product, and setting up necessary infrastructure and office space to support company operations and growth.
In the "Startup Boarding Pass" section, CTech will cover the (relatively) small investments made in companies during the early stages of their existence - and the entrepreneurs and startups who have not yet had the opportunity to reveal their stories to the world. Please use the linked form and fill it out according to the guidelines. This form is intended for startups raising between $500,000 and $3 million from venture capital funds, angels, or official grants from Israeli and foreign institutions. If relevant, someone at CTech will be in touch for follow-up questions.
