1. Some Historical Statistics on Companies in the Market of Optical Coherence Tomography Systems

    Some Historical Statistics on Companies in the Market of Optical Coherence Tomography Systems

    There are over 36 OCT system companies in the market today in varying stages of maturity. There are other OCT companies that currently exist or started in this time period but are not listed here due to their small scale and/or company status.  Many of those companies are listed here along with OCT component companies. There are even more startups and established companies in stealth mode looking to start new product lines.  Figure 1 shows a graph of these 36 companies and the approximate time that significant resources were invested in new OCT product development efforts.  Table 1 shows additional data on these companies including whether their technology initiated as a startup company and/or if there was a strong connection with an academic institution.  Much of the data was supplied directly from the companies and some data was estimated where no input was supplied from the company.

    As shown in Figure 1, there was a slow start to OCT system companies.  Advanced Ophthalmic Devices, Lightlab Imaging, Imalux, Ophthalmic Technologies Incorporated, and Tomophase were among the first five OCT companies, and were all startup companies - a clear testament to the entrepreneurial spirit and power of startups.  It is interesting to note that 78% of the 36 companies are now, or were at one point, startup companies.  Additionally, almost one half (42%) of these companies owe their start to strong ties with academic institutions that had significant sources of government funding.  Of the 36 companies, 14 are related to ophthalmology, ten of them are direct competitors within ophthalmology, and four of them (LenSx, Schwind, Technolas Perfect Vision, and Optimedica) are using OCT to guide surgical ophthalmic procedures.  In the 2005 timeframe there was a peak of activity in OCT product starts.

    Approximately 18% of the startup companies have been acquired by larger established companies for a total purchase price of ~$300M (not including LenSx which was acquired mainly for its non-OCT technology for $744M).  So far, not a single startup company has been able to, or chose to, go to the public market for financing.

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    Figure 1: Startups or Established Companies OCT Product Development Start.  Blue dots represent ophthalmic companies.

     

    OCT System Companies

    Academic

    Startup

    OCT Market Focus

    Comments: Date founded or OCT system development started, connection with academic research, equity capital, etc.

    AGFA Healthcare

     

     

    Dermatology Systems

     Product developments start in January 2010.  CE Mark 9/5/2011.  FDA in process.  Technology developed internally.

    Alcon (LenSx)

     

    Y

    Laser technology for cataract surgery that used OCT guidance.

    LenSx was founded in 2006 was acquired by Alcon for $744M in 2010.  Much of LenSx technology is not focused on OCT. However, OCT being developed for laser surgical guidance.

    Avinger

     

    Y

    OCT guided catheters for chronic total occlusion and atherectomy

    Founded 2008. OCT effort started ~2008.  Avinger and Sawtooth Labs  merged on Jan. 1, 2010 to become Avinger, Inc.  OCT product pending FDA clearance (Expected Nov 2013).  Raised $97M of equity capital.

    Bioptigen

    Y

    Y

    Ophthalmic and research OCT Systems

    Co-founded in 2004 by Dr. Joseph Izatt at Duke University.  FDA approval in 2006. Raised $3.8M of equity capital (plus shared in ~$7M in SBIR awards)

    Canon (Optopol)

    Y

    Y

    Ophthalmic OCT Systems

    Optopol founded in 1992 and its OCT effort started in 2005. Canon Medical acquired Optopol for $94M in 2009.  Optopol had strong connections to leading researchers at Nicolaus Copernicus University and OCT work started at Optopol in 2005 when an agreement with NCU was signed.

    Carl Zeiss Meditec (AOD)

    Y

    Y

    Ophthalmic OCT Systems

    Advanced Ophthalmic Devices (AOD) was founded in 1992 by Eric Swanson, Dr. James Fujimoto, and Dr. Carmen Pulifiato at MIT and Harvard Medical School in 1992.  Zeiss acquired AOD in 1994.  Zeiss developed and released several generation of products: TD-OCT:  OCT1/1995, OCT2/2000, Stratus/2002, Visante/2005, FD-OCT Cirrus 2007. 

    Colibri Technologies

    Y

    Y

    Hybrid IVUS / OCT catheters and consoles for cardiovascular market

    Colibri was founded in 2007 and originated from research conducted at Sunnybrook Health Sciences Centre in Toronto, Canada.  Sunnybrook is affiliated with the University of Toronto.  Product in development

    Compact Imaging

     

    Y

    OEMing compact OCT systems

    Founded ~2011.  Product in development

    Diagnostic Photonics

    Y

    Y

    Surgical guided OCT Systems

    Co-founded in 2008 by Dr. Stephen Boppart and Dr. Scott Carney at University of Illinois at Urbana Champaign. Product in development.  Raised $1.76M of equity capital.

    Heidelberg Engineering

     

     

    Ophthalmic OCT Systems

    OCT effort started ~2005 when Heidelberg acquired 4optics AG (Lubeck Germany) in 2005.  First OCT FDA clearance 2006.  2007 released FD OCT.

    Heliotis AG

    Y

    Y

    Microscopy OCT Markets

    Heliotis was founded in 2005 and was a spin-off of Swiss Center for Electronics and Microtechnology a government sponsored research institution in Switzerland.  Shipments ~2007

    Imalux

    Y

    Y

    OCT for ENT, Gynecology, and Urology.

    Imalux was founded in 2000 by Drs. Felix Feldchtein, Alexander Sergeev, Valentin Gelikonov, and Grigory Gelikonov from the Institute of Applied Physics at the Russian Academy of Sciences.  OCT efforts started around 2002. FDA clearance in 2004.  Shipments 2005.  Raised $20M in equity capital.

    ISIS Sentronics

     

    Y

    Inspection systems: semiconductors, automotive, films, coatings, and medical.

    ISIS Sentronics GmbH was founded by CEO Dr. Alexander Knüttel in 2006.  ISIS Optronics was founded in 1999 and first sales of SkinDex300 in 2000.  ISIS Sentronics seems to have absorbed some of ISIS Optronics after it went out of business.

    LLTech

    Y

    Y

    FF-OCT microscopy systems for research and pathology for ex vivo tissue/biopsies assessment

    LLTech was co-founded in 2007 by Dr. Claude Boccara and Bertrand Le Conte de Poly at ESPCI Paris Tech University in France and licensed CNRS  (National Center for Scientific Research) technology. First OCT funding in 2009. Research market approval 2011 (CE and US). $1M Revenue 2012. Clinical market expected 2013. Raised ~$1M in equity capital.

    MedLumics

     

    Y

    OCT systems using integrated optics for cardiology and oral surgery

    Founded in 2009.  A-round investment in 2011. Company focused on integrated optical photonic circuits to lower size and costs. Product in development. Raised $4.7M in equity capital.

    Michelson Diagnostics

     

    Y

    Dermatology market, for diagnosis, staging and monitoring of non-melanoma skin cancer

    Michelson Diagnostics OCT effort started in 2007.  Michelson was spun out of an established medium-sized optical engineering company when the latter failed commercially.  FDA Approval 2010.  Shipments 2012.  Raised $12M in equity capital.

    Nidek

     

     

    Ophthalmic OCT Systems

    OCT effort started ~2007.  2009 RS-3000 Product Announced.

    NinePoint Medical

    Y

    Y

    Endoscopic OCT Systems for Gastroenterology

    Founded in 2010 and licensed patents and other IP and receives assistance from the Harvard/MGH.  FDA approval 2011.  Shipments 2013/2014.  Raised $33M in equity capital.

    NovaCam Technologies

    Y

    Y

    3D Metrology for Industrial and Medical Markets

    Founded in 1997 and OCT systems began in 2004/2006.  Novacam works closely with and licensed technology from National Research Council Canada.  Shipments ~1999

    Oncoscope

    Y

    Y

    Diagnostic systems to locate abnormal cells in epithelial tissues

    Founded in 2006 with A-round financing in 2008.  Dr. Adam Wax out of Duke University was one of the co-founders.  PMA trial pending for FDA approval.  Raised $5.2M in equity capital.

    OptoMedica

     

    Y

    Laser cataract surgery systems that used OCT guidance.

    Founded in 2004. Much of OptoMedica technology is not focused on OCT, but laser surgery.  OCT has been integrated to help guide the surgical procedure.

    OptoMedical Technologies GmbH

       

    Universal OCT camera add-ons for medical imaging

    Founded July 2010

    Optos (Opko/Ophthalmic Technologies Inc)

     

    Y

    Ophthalmic OCT Systems

    Ophthalmic Technologies Incorporated (OTI) founded in ~2002.  Acquired by OPKO in 2007 for ~$15M.  Optos acquire OTI from OPKO in 2011 for ~$38M.  OTI got FDA clearance in 2005, sold in Japan in 2003 via Nidek.

    Optovue

     

    Y

    Ophthalmic OCT Systems

    Founded in 2004 and was the first to FDA approval for SD-OCT.  Founder/CEO Dr. Jay Wei was formerly a lead OCT engineer at Zeiss.  FDA Approval 2006/RT-Vue, 2010 / iVue.

    Santec

     

     

    Medical, and non-medical OCT Systems and OEM market

    Santec OCT technology R&D started ~2004.  Shipments ~2005.

    Schwind eye-tech-solutions

       

    Refractive and therapeutic corneal surgery

    Uses OCT to guide laser surgical ophthalmic procedures.  Product release ~2009.  Product Start ~2007 (estimate)

    Shenzhen Moptim Imaging

    Y

    Y

    Ophthalmic and Inspection OCT Systems

    Moptim was founded in 2004 and started in collaboration with Shenzhen Tsinghua University in China.  They are currently focused in China market.  Chinese regulatory approval ~2009

    St. Jude (Lightlab Imaging)

    Y

    Y

    Cardiovascular OCT Systems

    Founded in 1998 by Eric Swanson, Dr. James Fujimoto, Dr. Mark Brezinski at MIT.  Goodman Ltd acquired Lightlab in 2002.  St. Jude Medical then acquired Lightlab for over $100M in 2010.  TD-OCT 2004/EU, 2006/China, 2007/Japan, FD-OCT 2009/EU, 2010/USA.  Raised $10M in equity capital from Zeiss.

    Technolas Perfect Vision

       

    Refractive and cataract surgical products

    Uses OCT to guide laser surgical ophthalmic procedures.  Product release ~2011.  Product start ~2009 (estimate).

    Terumo

    Y

     

    Cardiovascular OCT Systems

    Terumo entered a joint development agreement and licensed numerous patents and other IP and receives assistance from the MGH research in 2004.  2012 European Approval

    Thorlabs

     

     

    Research and OEM market

    Thorlabs collaborates with numerous universities the majority of Thorlabs OCT technology was developed organically around 2004.  Shipments ~2005.

    Tomey

     

    Y

    Ophthalmic OCT Systems

    Tomey is a 40 year old company and its OCT technology started ~2007.  Announced SS-OCT system in 2008.

    Tomophase

     

    Y

    Pulmonary OCT Systems

    Founded in 2003 (seed) and got A-round in 2005.  Founders all came from telecom backgrounds. Technology was hybridized to medical devices..  FDA clearance in 2010.  Shipments 2011.  Raised $5.3M in equity capital.

    Topcon Medical Systems

     Y

     

    Ophthalmic OCT Systems

    Topcon Medical Systems OCT effort started 2004.  FDA clearance in 2007.  Licensing of technology from Tsukuba University, then collaborated during the development.

    Tornado Spectral Systems

     

    Y

    On-Chip spectrometers for OCT systems.

    Founded in 2010 and started OCT in 2011.  Developing on-chip spectrometers for OCT applications using photonic integrated circuit technology.  In development (expect January 2013 chips).

    Volcano Corporation

    Y

     

    Cardiovascular OCT Systems.  OEMing OCT Subsystems through Axsun

    Cardiospectra was founded in 2005 by Marc Feldman and Thomas Milner from University of Texas at Austin.  Volcano acquired Cardiospectra in 2007 for $63M for its start in OCT.  Volcano also acquired Axsun for its OCT laser technology in 2008 for $21.5M.  Product in development.

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