Devicare Company Profile

Background

Devicare is a specialty biotech company dedicated to developing innovative medical treatments in urology by integrating the latest scientific advancements with digital technologies. The company's mission is to provide solutions that enhance and simplify the lives of patients suffering from urological diseases and disorders, with a particular focus on transforming kidney stone treatment globally. Devicare envisions becoming a worldwide leader in urology.

Key Strategic Focus

Devicare's strategic focus centers on combining diagnostics, monitoring, and nutritional therapies to improve in-home management of chronic urological diseases. The company has developed a portfolio of 12 products and holds over 40 market authorizations, with a presence in more than 60 countries worldwide.

Financials and Funding

Since its founding in 2011, Devicare has raised approximately $5.8 million over multiple funding rounds. Notably, in January 2021, the company secured a $3 million Series A funding led by Advanced MedTech Holdings. The capital is intended to accelerate the company's growth, particularly in entering new markets and completing the development of the Lit-Control® app.

Pipeline Development

Devicare's product portfolio includes:

• Lit-Control®: A comprehensive treatment for kidney stone disease, offering specific products tailored to each type of stone.

• Canoxidin®: A product designed to reduce the risk of infection and encrustation in patients with indwelling urological devices such as bladder catheters, ureteral stents, or nephrostomy tubes.

• Metiofitina: An innovative product that acidifies urine pH to maximize the effect of antibiotic treatment during acute episodes of urinary tract infection.

These products are at various stages of development and commercialization, with ongoing efforts to expand their availability in international markets.

Technological Platform and Innovation

Devicare distinguishes itself through its proprietary technologies and scientific methodologies:

• Lit-Control® pH Meter: A patented device that allows patients to monitor their urinary pH levels at home, facilitating better management of urological conditions.

• Theobromine Patent: Devicare has patented the use of theobromine, derived from the cacao tree, as an inhibitor of uric acid crystal formation in urine. This innovation is incorporated into their Lit-Control® pH Up product.

These innovations underscore Devicare's commitment to integrating digital health solutions with traditional medical treatments to enhance patient outcomes.

Leadership Team

Devicare's leadership team comprises experienced professionals dedicated to advancing the company's mission:

• Rosendo Garganta: Founder, Chief Executive Officer, and President. With over a decade of experience in business development within medical device companies, Garganta holds multiple degrees, including a Master in Business Administration and a Master in International Business.

• Bea Alvarez: Administration Manager, overseeing the company's administrative functions.

• D. P.: Director of Operations, responsible for managing operational activities.

• R. S.: Sales Area Manager, leading sales initiatives in designated regions.

• R. S. T.: Marketing Manager, directing the company's marketing strategies.

Leadership Changes

In October 2019, Devicare appointed Vanessa Llopart, an executive at Emesa, to its leadership team, reflecting the company's commitment to strengthening its executive capabilities.

Competitor Profile

Market Insights and Dynamics

The global urology market is experiencing significant growth, driven by increasing prevalence of urological disorders and advancements in medical technologies. Companies are focusing on developing innovative solutions to address unmet needs in this sector.

Competitor Analysis

Devicare faces competition from several companies in the biotech and urology sectors:

• AdviNOW Medical: Specializes in AI-driven healthcare solutions, offering automated medical visits and diagnostics.

• Petal: Provides healthcare management solutions, focusing on improving operational efficiency in medical practices.

• InSync Healthcare Solutions: Offers integrated healthcare solutions, including electronic health records and practice management software.

• VocoVision: Focuses on telepractice services, connecting professionals with clients through virtual platforms.

These competitors emphasize technological innovation and digital health solutions, similar to Devicare's strategic approach.

Strategic Collaborations and Partnerships

Devicare has established significant partnerships to enhance its market position:

• Advanced MedTech Holdings: Led Devicare's $3 million Series A funding round in January 2021, providing financial support and strategic guidance.

• Diem Labs, LLC: Partnered with Devicare to introduce innovative digital medical solutions in the urology field to the U.S. healthcare market.

• Noventure, S.L.: Collaborated to bring Utipro Plus AF into the Spanish market, expanding Devicare's product offerings.