VeinSound Company Profile

Background

VeinSound, established in 2017 and headquartered in Lyon, France, is a MedTech startup specializing in the development of non-invasive, non-thermal treatments for varicose veins. The company's mission is to revolutionize phlebology by providing innovative solutions that enhance patient comfort and treatment efficacy.

Key Strategic Focus

VeinSound's strategic focus centers on delivering a groundbreaking, non-invasive, and non-thermal technology for the treatment of superficial venous diseases. The company aims to provide in-office treatments that are fast, painless, and effective, utilizing High-Intensity Focused Ultrasound (HIFU) technology to obliterate varicose veins through non-thermal cavitation. This approach targets both tortuous collateral and saphenous trunk veins, offering a cost-effective and safe alternative to traditional methods.

Financials and Funding

VeinSound has secured funding through various channels, including accelerator and incubator programs. Notably, the company received €100,000 in an accelerator/incubator round in January 2019 and an additional €100,000 from an angel investor in November 2017. These funds have been instrumental in advancing research and development efforts, particularly in refining their HIFU technology for varicose vein treatment.

Pipeline Development

VeinSound's primary product is its HIFU-based device designed for the non-invasive treatment of varicose veins. The device is currently in the prototype stage, with ongoing clinical trials to validate its safety and efficacy. The company is collaborating with the French Society of Phlebology (SFP) to accelerate the development and deployment of this therapy, aiming to meet the unmet needs of vascular surgeons, practitioners, and patients.

Technological Platform and Innovation

VeinSound's innovation lies in its proprietary use of High-Intensity Focused Ultrasound (HIFU) technology for the non-thermal, non-invasive treatment of varicose veins. This method involves exciting small air bubbles naturally present in the veins, causing them to oscillate until they collapse, effectively treating the inner walls of the vein without the need for injections or surgery. The device is designed for ergonomic and straightforward procedures, akin to an ultrasound scan, and incorporates AI-powered safety features to enhance precision and patient safety.

Leadership Team

Bernard Greillier: Founder and President. With a background in high technology projects and a passion for the medical field, Bernard founded VeinSound in 2017, bringing his expertise in product creation and new technologies.

Thomas Charrel, PhD: Co-Founder and Chief Executive Officer. Thomas joined VeinSound at its inception, leveraging his experience in High-Intensity Focused Ultrasound startups and large companies to drive the company's ultrasound expertise and clinical development.

Didier J. Le Lannic: Co-Founder and Chief Operating Officer. With extensive experience in large high-tech companies and launching multiple startups in the USA, Didier brings his technological passion and business acumen to effectively manage corporate developments and operations.

Olivier Pichot, MD: Medical Director. Olivier contributes his scientific rigor and experience in vascular treatments, having participated in the validation of high-frequency treatments for varicose veins.

Leadership Changes

As of the latest available information, there have been no recent significant changes or appointments within VeinSound's leadership team.

Competitor Profile

Market Insights and Dynamics

The global market for varicose vein treatments is substantial, with a total addressable market exceeding €10 billion. The prevalence of varicose veins affects approximately 23% of the population, with a compound annual growth rate (CAGR) of over 6% from 2017 to 2027.

Competitor Analysis

VeinSound operates in a competitive landscape with several key players:

Theraclion: A French company specializing in echotherapy, offering non-invasive treatments for varicose veins using ultrasound technology.

STERIS USA: Provides infection prevention and other procedural products, focusing primarily on the healthcare, pharmaceutical, and research markets.

Otto Bock HealthCare: A medtech company offering a range of medical devices.

Terumo Medical: Develops medical devices across various healthcare sectors.

Biosense Webster: Focuses on the diagnosis and treatment of cardiac arrhythmias.

Strategic Collaborations and Partnerships

VeinSound has established significant collaborations to enhance its market position and innovation capacity:

French Society of Phlebology (SFP): In August 2024, VeinSound partnered with SFP to accelerate the development and deployment of varicose vein therapies, combining SFP's scientific and medical expertise with VeinSound's HIFU technology.

INSERM U1032 – LabTAU: VeinSound collaborates with this French laboratory to further develop and enhance its ultrasound technology for medical applications.

Operational Insights

VeinSound's strategic considerations include:

Market Position: By offering a non-invasive, non-thermal treatment for varicose veins, VeinSound differentiates itself from competitors that rely on invasive or thermal methods.

Competitive Advantages: The company's HIFU technology provides a painless, fast, and safe alternative to traditional treatments, appealing to both patients and healthcare providers seeking in-office solutions.

Strategic Opportunities and Future Directions

VeinSound's strategic roadmap includes:

Product Development: Advancing the HIFU device through clinical trials to achieve regulatory approvals and market readiness.

Market Expansion: Targeting the European market, which comprises approximately 235 million potential patients, with projected revenues of around €80 million by 2030.