What Happened to SynDaver After Shark Tank?
What is SynDaver?
SynDaver is a company that develops the world’s most sophisticated synthetic human and animal tissue analogs, body parts, and full bodies.
Both the SynDaver Synthetic Human and the SynDaver Surgical Canine can bleed and breathe, and they employ hundreds of interchangeable muscles, bones, organs, and arteries made of materials that mimic the mechanical, thermal, and physicochemical properties of biological tissues.
This validated technology is used to replace live animals, cadavers, and human patients in medical device research, clinical training, and surgical simulation.
Who is the founder of SynDaver?
SynDaver was founded in 2004 by Christopher Sakezles with the purpose of commercializing a novel system of synthetic human body parts for the medical device industry.
He’s built complex models that carefully replicate human and animal anatomy, including individual muscles, tendons, veins, arteries, nerves, and organs. Each model is made up of intricate composites that reflect the properties of the many biological tissues it portrays.
The tissues, which are made of water, salts, and fibers, have been shown to mirror the mechanical, chemical, thermal, and dielectric properties of their living counterparts.
Indeed, SynDaver has the world’s largest library of LIVE tissue characteristics, and its products are used in a wide range of sectors, including surgical training, medical device testing, consumer product evaluation, and ballistics testing.
SynDaver Labs’ ultimate goal is to remove the use of live animals and human cadavers in medical education and training, resulting in considerable cost savings.
What Happened to SynDaver at Shark Tank pitch?
In Shark Tank episode 625, Christopher Sakezles hopes that a Shark would invest in SynDaver Labs, a firm that creates synthetic cadavers. He also plans to create synthetic persons with live tissue for studies and hopes to recruit the help of a Shark.
Christopher appeared on Shark Tank in seeking $3 million in return for a 10% stake in his company, which is worth $30 million.
He was holding a SynDaver body on the table while he described the firm. He asks the Sharks to check the table, and they all arrive. Lori compares the sensation to that of raw chicken.
A cadaver may be purchased for $5 to $10,000, but a SynDaver costs $40,000 but can be reused endlessly. Christopher earned his degree in polymer sciences and started the firm in his garage.
Over the preceding three years, the business made $10 million in sales and has been expanding its revenue year after year.
Mr. Wonderful claims that medical device companies trade at a multiple of ten to twenty times free cash flow and wonders why he values the company at $10 million.
Barbara exits because she hated the idea that profit was not Christopher’s primary goal.
Mr. Wonderful was interested in how he would retrieve his money. Lori has decided to quit since she does not trust Christopher would protect her investment. Mr. Wonderful was also out.
Robert claims that the complication put off potential investors, so he was offering $3 million in return for 35% stock and equal board seats.
Christopher will not give up that much of his interest since he will need new investors.
Mark recognizes that he may be underestimating himself, but he cannot risk being revealed, so he went out.
As he exits the presentation, Robert cuts the price to $3 million for 25% equity shares, and Christopher proclaims that they have reached a deal.
What Happened to SynDaver After Shark Tank?
Despite the fact that the deal with Robert was never finalized, the business continued to function. The corporation was still making tens of millions of dollars in income as of April 2021.
They now also provide animal cadavers for veterinarian training. There are even dissection replica frogs available. The company plans to go public in 2022.
The firm is still in operation as of February 2022, with yearly sales of $4.3 million.
Competitors of SynDaver
Organovo Holdings, MatTek, Unicell, Carmat, The Natural Baby, Humacyte, LulzBot, and BrandFX Body are SynDaver’s main competitors in the market.
Net Worth of SynDaver
During the pitch, the firm was valued at $30 million. Since the corporation is still in operation, its net worth might have been more than that of pitch.
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SynDaver FAQs
What exactly is SynDaver?
The business develops the world’s most sophisticated synthetic human and animal tissue analogs, body parts, and full bodies.
Who is the originator?
SynDaver was created in 2004 by Christopher Sakezles with the purpose of commercializing a novel system of synthetic human body parts for the medical device industry.
How much was Christopher asked on Shark Tank?
He was sought for $3 million in stock for a 10% stake in the firm, which was then worth $30 million.
Did he have the deal?
Yes, he had a deal with Robert Herjavec for $3 million in exchange for 25% ownership of the firm.
Is SynDaver still in operation?
The company is still in business and is working to eliminate the use of live animals in training and education.
Where is SynDaver located?
Beavercreek, Ohio is the home of SynDaver Laboratories.
In which industries does SynDaver work?
Animal-free simulation is provided by the firm for medical device research, testing, training, and teaching.
Is SynDaver a success?
Yes, the company has made $10 million in sales over the last three years and is growing each year.
What is the price of SynDaver?
A synthetic human cadaver costs $40,000 from the corporation. The cadaver may be utilized indefinitely after a year of usage.
Is SynDaver a publicly traded company?
No, the firm is not publicly traded.
What exactly does SynDaver do?
The business develops the world’s most sophisticated synthetic human and animal tissue analogs, body parts, and full bodies.
What is the definition of synthetic bodies?
SynDaver are synthetic cadavers that are designed to mimic the human body from head to toe, from skin with adipose tissue to elastic tendons and ligaments to squishy organs to rigid bones.
They depict all of the organs as well as their interactions with the muscles, nerves, and veins.
What is the make-up of SynDaver?
SynDaver has the world’s largest collection of live-tissue properties, and all SynDaver tissues are made out of water, salts, and fibers. The company now has eight patents on these materials, processes, and linked items.
Which organs can be replaced artificially?
Artificial organs are divided into four categories: (I) Bone/Joint Replacements (e.g., hip, knee, finger, and entire limb), (II) Skin/Soft Tissue Replacements (e.g., skin, breast, and muscle), (III) Internal Organs (e.g., heart, kidney, blood vessels, liver, and pancreas), and (IV) Sensory Organs (e.g. eye, ear).
What kind of artificial organs are available?
Prosthetic limbs, bladder, brain, cavernous corpora, ear, eye, heart, kidney, and other organs are examples.
How long does a SynDaver last?
The SynDaver Musculoskeletal Model is an effective alternative for human cadavers in introductory anatomy classes. The tissues are a more precise reproduction of living tissue than dead tissue from a corpse, yet unlike a cadaver, the SynDaver may be kept alive permanently with proper care.
How can I make a payment for SynDaver?
On request, mass payments are possible.
How does SynDaver’s business model work?
A collection of lifelike human and animal cadavers lies at the center of the SynDaver business concept. The organs in the instance of the SynDaver are artificial and composed.
The SynDaver costs $40,000 and includes a one-year warranty. Once utilized, the corpse can be kept forever with the help of experienced technicians at SynDaver Laboratories.
