SynDaver Shark Tank Net Worth 2023
SynDaver Labs appeared on Shark Tank in 2015 and received an investment of $3 million from Robert Herjavec for a 10% stake in the company.
The company’s valuation at the time was $30 million. However, the deal with Robert was never completed, and it wasn’t in the show’s best interest. As of 2022, SynDaver Labs has a net worth of around $25 million.
SynDaver Labs is a synthetic cadaver business that manufactures artificial human bodies and organs to help train medical students and doctors.
The ultimate objective of SynDaver Labs is to eliminate the use of live animals and human cadavers in medical education and training, which would result in significant cost savings.
As of April 2021, SynDaver Labs was still operating with a revenue of $23 million.
Christopher Sakezles founded SynDaver Labs in 2004 to commercialize a novel system of synthetic human body parts for the medical device industry. As of 2022, Christopher Sakezles has a net worth of $19 million.
What is SynDaver? Who is the founder of SynDaver?
SynDaver is a company that specializes in producing cutting-edge synthetic human and animal tissue analogs, body parts, and even entire bodies.
Their products, such as the SynDaver Synthetic Human and SynDaver Surgical Canine, are designed to be as close to real human or animal anatomy as possible.
These synthetic models have the unique ability to bleed and breathe, and are made up of hundreds of interchangeable muscles, bones, organs, and arteries.
The materials used to create these models match the mechanical, thermal, and physicochemical properties of organic tissues, making them ideal for use in medical device investigations, clinical training, and surgical simulation.
Founded by Christopher Sakezles in 2004, SynDaver’s goal was to create a revolutionary system of synthetic human body parts for the medical device sector.
Today, the company’s sophisticated models meticulously duplicate human and animal anatomy, including individual muscles, tendons, veins, arteries, nerves, and organs.
Each model is constructed from complicated composites that mimic the qualities of the distinct biological tissues it represents.
The tissues are composed of water, salts, and fibers, and have been proven to replicate the mechanical, chemical, thermal, and dielectric characteristics of live tissue.
SynDaver has the largest library of live tissue qualities in the world, and their products are used in a variety of industries, including surgical training, medical device testing, consumer product assessment, and ballistics testing.
The ultimate objective of SynDaver Labs is to eliminate the use of live animals and human cadavers in medical education and training, resulting in significant cost savings.
SynDaver Shark Tank Pitch
Christopher Sakezles appeared on Shark Tank in episode 625, hoping to secure an investment from one of the Sharks for his synthetic cadaver startup, SynDaver Labs.
He also shared his vision to develop synthetic people with live tissue for research and experimentation, and was seeking the assistance of one of the Sharks.
During his pitch, Christopher showcased a SynDaver corpse on the table and invited the Sharks to inspect it. He requested $3 million for a 10% stake in his company, which was valued at $30 million.
Compared to traditional cadavers, which cost between $5,000 to $10,000 each, SynDaver’s price point was higher at $40,000 but offered the advantage of being reusable.
Christopher, who held a doctorate in polymer sciences and founded the company in his garage, revealed that the company had generated $10 million in revenue over the past three years and was growing year by year.
When asked about his valuation of the company at $10 million, Mr. Wonderful expressed his concern and inquired about how Christopher intended to recoup his investment.
Barbara, on the other hand, declined to invest because she disagreed with Christopher’s lack of focus on profit.
Ultimately, Robert offered $3 million for a 25% stake, which Christopher accepted. Although the deal with Robert was never completed, SynDaver Labs continued to grow, with tens of millions in revenue as of April 2021.
The company expanded its offerings to include animal cadavers for veterinary training and even replica frogs for dissection.
As of February 2022, the company remained in operation with an annual revenue of $4.3 million, with plans to go public in 2022.
Competitors of SynDaver
The top competitors of SynDaver in the market space are; Organovo Holdings, MatTek, Unicell, Carmat, The Natural Baby, Humacyte, LulzBot and BrandFX Body.
Net Worth of SynDaver
The company valuation was $30 million during the pitch. Since the then the company is still operating and hence the company net worth might have been more than that of pitch.
What is SynDaver?
The company is a firm that creates the most advanced synthetic human and animal tissue analogs, body parts, and whole bodies in the world.
Who is the founder?
Christopher Sakezles founded SynDaver in 2004 with the goal of commercializing a revolutionary system of synthetic human body parts for the medical device sector.
How much was Christopher asked on Shark Tank?
He was asked $3 million worth of equity at a 10% stake in the company, which was then worth $30 million.
Did he have the deal?
Yes, he had a deal with Robert Herjavec for $3 million for 25% equity in the company.
Is SynDaver still in business?
The company is still operational and is pursuing its goal of eliminating the use of live animals in training and education.
Where is SynDaver located?
SynDaver Laboratories is located in Beavercreek, Ohio.
What industries does SynDaver work in?
The company provides animal-free simulation for medical device development, testing, training, and education.
Is SynDaver successful?
Yes, the firm has generated $10 million in revenue over the previous three years and is increasing its revenue each year.
How much does SynDaver cost?
The company charges a $40,000 fee for a synthetic human cadaver. After a year of use, the cadaver can be used indefinitely.
Is SynDaver publicly traded?
No, the company is privately held.
What does SynDaver do?
The company creates the most advanced synthetic human and animal tissue analogs, body parts, and whole bodies in the world.
How are synthetic bodies defined?
SynDaver are synthetic cadavers that replicate the human body from head to toe, from skin with fat tissue to elastic tendons and ligaments to squishy organs to hard bones.
They illustrate all of the organs and their interactions with muscles, nerves, and veins.
What is the composition of SynDaver?
SynDaver maintains the biggest database of live-tissue attributes in the world, and all SynDaver tissues are composed of water, salts, and fibers. Currently, the business holds eight patents on these materials, techniques, and associated goods.
Which organs can be artificially replaced?
Artificial organs can be conveniently classified into four categories: (I) Bone/Joint Replacements (e.g. hip, knee, finger, and total 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).
Which artificial organs are available?
Examples; Prosthetic limbs, Bladder, Brain, Cavernous corpora, Ear, Eye ,Heart, Kidney and More items.
How long is a SynDaver effective?
In basic anatomy lessons, the SynDaver Musculoskeletal Model is an excellent substitute for human cadavers. The tissues are a more accurate replica of living tissue than the dead tissue of a corpse, yet unlike a cadaver, the SynDaver may be maintained nearly indefinitely with adequate care.
How do I pay for SynDaver?
Mass payment is available upon request.
How is the business model of SynDaver?
The heart of SynDaver business model is a series of realistic human and animal cadavers. In the case of the SynDaver, the organs are artificial and compositional.
The SynDaver is priced at $40,000 and comes with a one-year warranty. Once the cadaver has been used, it can be maintained indefinitely with care by professional technicians on site at SynDaver Laboratories.
What is the net worth of Christopher Sakezles?
The net worth of Christopher Sakezles is not available.