Shark Tank episode 625 featured Christopher Sakezles, who hopes one of the Sharks will invest in SynDaver Labs, a synthetic cadaver company.
The SynDaver Labs make cadavers that can be used for medical teaching, CPR and first aid training, and a variety of other uses.
The company’s main product is a “synthetic person,” which includes skin, bone structure, muscles, and blood vessels.
SynDaver Labs provides medical device researchers, clinicians, medical students, and researchers with models that can be used to study human anatomy in the context of medical device research, clinical training, and surgical simulation.
SynDaver Labs’ foundation was laid during research on the reproduction of real animals’ and humans’ tracheae at the University of Florida.
Even though the company didn’t exist until 2004, the company is based in the location where the technology was developed.
Synthetic humans were expected to have a variety of applications on the market.
SynDaver Labs aims to eliminate the use of live animals and human cadavers in medical education and training, which will save significant amounts of money.
A synthetic human with living tissue is also being developed so that experiments may be carried out on them.
Will a Shark put money into Syndaver Labs, or will the company be doomed from the start?
What Is Syndaver Labs?
SynDaver Labs is a Tampa, Florida-based startup that creates synthetic humans for use in medical teaching.
Syndaver Labs creates synthetic human body parts and tissues for the pharmaceutical and medical industries.
They produce some of the most highly engineered synthetic tissues and body parts globally.
SynDaver Labs manufactures more than simple body parts; they also make synthetic human bodies look and feel just like their real counterparts.
The reproduction of this stunning recreation includes everything from tendons to muscles present in a human body.
‘SynDaver Labs’ is an American biotech company that makes the world’s most advanced synthetic human tissues and organs.
A SynDaver Synthetic is a type of synthetic. The modern human body is composed of thousands of interchangeable muscles, bones, organs, and vessels created from materials that mimic the mechanical, thermal, and physicochemical properties of living tissue.
Medical devices, clinical training, and surgical simulation are among the applications in which this FDA-approved technology is used instead of living animals, cadavers, or human patients.
|Company Name||SynDaver Labs|
|Product / Business||Human cadavers created from synthetic material for educational purposes|
|Investment Asking For||$3,000,000 for 10% equity in SynDaver Labs|
|Final Deal||$3,000,000 for 25% equity in SynDaver Labs|
|Episode||Season 6 Episode 28|
|Business Status||In Business|
Who Is The Founder Of Syndaver Labs?
SynDaver Labs was founded by founder and CEO Christopher Sakezles in 2004 to commercialize a revolutionary system of synthetic human body parts for use in medical devices.
He recreates muscles, arteries, tendons, veins, nerves, and organs in each of his models, which show muscles, tendons, veins, arteries, nerves, and organs individually.
Every model is constructed with various complex composite materials that represent the characteristics of its biological tissue.
The tissues, which are composed of water, salts, and fibers, have been shown in both laboratory and field studies to reproduce mechanical, chemical, thermal, and dielectric properties of the equivalent biological tissue.
SynDaver Labs provides LIVE tissue characteristics, and its products are used in numerous industries, such as surgical training, device testing, consumer product evaluation, and ballistics testing.
SynDaver Labs’ main purpose is to eliminate the use of cadavers and live animals during medical education and training, which could result in significant cost savings for the medical community and the general public.
Syndaver Labs Before Shark Tank
SynDaver Labs was created by Christopher Sakezles, a scientist who is the driving force behind the idea. A study conducted at the University of Florida in 1993 served as the inspiration for the rest of the project.
SynDaver Labs was founded by researchers who studied a substance that mimicked the tissues of living humans and animals.
The researchers also developed the technology that would serve as the foundation for the company’s operations.
Sakezles founded the company to develop a product that could be applied to a wide range of applications. The company has since expanded rapidly.
SynDaver Labs makes man-made, synthetic cadavers for research that are intended for use by medical institutes. SynDaver Labs is based in the United States.
SynDaver simulates animal and human bodies anatomically accurately using this new and precise technology.
The muscles and tendons of the human body have been meticulously reconstructed in the most realistic way possible to be used for clinical training, surgical teaching, and a variety of other kinds of medical research.
This company strives to develop a new method of studying medical science that will eliminate the use of actual animal and human cadavers in the medical education process, as stated in its mission statement. On the other hand, having a business is not a cheap endeavor.
The cost of making a complete human cadaver duplicate will not be inexpensive due to the precision and quality of SynDaver products.
The entrepreneur, Christopher, who sought outside resources to help his venture become a success, sought outside assistance to get it off the ground.
This effort led to his being invited to appear on ABC’s Shark Tank, where he sought a significant investment to assist SynDaver Labs in its endeavor for success.
How Was The Shark Tank Pitch Of Syndaver Labs?
Christopher appeared on Shark Tank seeking an investment of $3 million in exchange for a 10% stake in SynDaver Labs. While describing the business, he has a SynDaver cadaver on the table before him.
He invites all the Sharks to come in and take a look, and they all meet at the table to discuss this matter. Lori describes the sensation as “raw chicken.”
Cadavers cost about $5 – $10,000, but SynDaver costs $40 – $40,000 and may be used repeatedly.
Christopher holds a Ph.D. in polymer sciences, and he founded the company in the garage of his home.
This company has generated $10 million in sales in the last three years, with sales increasing by two times each year.
He claims that medical device businesses trade at 10 to 20 times free cash flow, and he wants to know why Mr. Wonderful believes the company is worth only $10 million.
Barbara is no longer employed since she does not agree with Christopher’s emphasis on profit as his primary goal. Mr. Wonderful is interested in learning how he might get his money back.
Lori has decided to leave since she does not believe Christopher will protect her investment. Mr. Wonderful is on his way out.
Robert has offered $3 million in exchange for a 35 percent stake in the company and equal participation on the board.
Christopher isn’t willing to give up so much equity because he expects to require more investors in the future.
Mark admits that he may be undervaluing himself, but he refuses to take the chance and withdraws from the competition.
Robert then reduces his stake to 25%, and Christopher announces that they have reached an agreement!
Final Deal: Robert agreed to invest $3 million in exchange for a 25 percent stake in SynDaver Labs.
What Happened To Syndaver Labs After Shark Tank?
Sakezles and Herjavec attempted to reconcile the investment terms after the cameras stopped shooting, but ultimately, their relationship was not successful since his position as CEO of the company would have been jeopardized.
He refused to give it up, so the agreement was called off, and no additional funds were invested in SynDaver.
Christopher says that despite the Shark’s exit, the company still plans to make approximately $10 million over the next year and hopes to bring on additional investors who value the company even higher than the Shark.
He intends to increase the number of staff from the current 100 to 500 within the next three years, and he sees only success for SynDaver Labs in the future.
You may learn more about the company and its products on its website (http://syndaver.com/), containing company news and information.
Potential investors and customers can discover more about the impact SynDaver is having on medicine by clicking the Investors link on the company’s website. The Investors page will also tell you how to invest in SynDaver.
The company remains a revolutionary success in general, even though Herjavec has left the company as a member and investor.
Sakezles’s lack of concern for financial gain appears not to have been the cause of his failure after all.
Syndaver Labs Shark Tank Update
The deal between SynDaver and Robert never came to a close, but the company continued to operate.
As of May 2022, SynDaver is still operating and making tens of millions of dollars in sales. Animal cadavers are now available for use in the teaching of veterinarians.
There are also fake frogs you can dissect if you want to be inventive. Syndaver Labs intends to go public sometime in 2022, according to current plans.
Is Syndaver Labs Still In Business?
Syndaver Labs is still in business as of May 2022, generating multimillion dollars annually.
Sakezles also expressed frustration at the prospect of losing his multimillion-dollar investment.
SynDaver Labs will be available to the general public in 2018. Furthermore, he says, “I respect Mr. Herjavec highly.”
Sakezles told the New York Times that he has no intention of stepping down after spending 20 years establishing the company from the ground up.
SynDaver Labs announced the creation of the world’s first synthetic dog in 2016. To make more and ship them to veterinary colleges around the globe, SynDaver Labs has started an Indiegogo campaign to try and raise $24 million.