SynDaver Labs is a company that creates synthetic cadavers and was featured on the show Shark Tank.
SynDaver Labs is a manufacturer of artificial human bodies and organs that are utilized in the education of medical students and practicing medical professionals.
SynDaver Labs is a one-of-a-kind company that manufactures body parts for a living and has quickly become one of the most intriguing things that have ever been featured on the Shark Tank show.
SynDaver Labs doesn’t just produce individual synthetic body parts; rather, they produce fully synthetic human bodies that look and feel exactly like the real thing, to everyone’s amazement.
The human body has been recreated with incredible attention to detail, including each tendon and muscle.
Christopher Sakezles, the entrepreneur responsible for creating SynDaver Labs’ synthetic body parts, will be making an appearance on the next episode 625 of the Shark Tank show.
SynDaver Labs, founded in 2004, manufactures its lifelike body parts for the medical industry.
SynDaver Labs has established the world’s largest library of living human and animal tissues that have been meticulously replicated thanks to their more than a decade of experience in body part recreation.
SynDaver Labs is undeniably in a league of its own compared to the hundreds of items from Shark Tank that have been featured on the show up until this point.
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 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 synthetic. The modern human body is composed of thousands of interchangeable muscles, bones, organs, and vessels created from materials that mimic living tissue’s mechanical, thermal, and physicochemical properties.
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 laboratory and field studies to reproduce the 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 various 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 requesting an investment of $3 million in exchange for a 10% stake in SynDaver Labs.
Sakezles immediately discusses why SynDaver Labs is worth so much after surprising the market with that type of price tag.
The complex reproductions of the human body are made from salt, water, and fiber, which closely resembles our organic composition. These elements are used to build replicas.
All of the different types of tests, training, and studies conducted on medical products are designed to serve as a suitable replacement for live animals, human cadavers, and even real live patients.
The Sharks demonstrate a fully artificial human body, which is vital for most medical treatments. The Sharks are impressed with this piece of technology.
The first people to rush out of their seats and continue investigating the SynDaver are Lori Greiner and Robert Herjavec.
Mark Cuban and Kevin O’Leary cannot suppress their natural curiosity and soon follow after.
Upon touching the synthetic body, they discover that it is, in fact, damp since it is composed of roughly 80 percent water. The reason for this is that the synthetic body was created using water.
Each cadaver contains all the muscles, bones, and organs characteristic of people, so it is accurate from an anatomical standpoint.
The tissue development alone took twenty years to perfect, and after touching its texture, Greiner likened it to “raw chicken.” This process took twenty years.
This cadaver can be dissected and handled in the same way that a medical research group would do with any other organic subject they might utilize.
Herjavec is the first to inquire, inquiring about the price difference between a synthetic and an organic cadaver, and he is the one who poses the issue.
The price of genuine human cadavers can range anywhere from $5,000 to $10,000, but they are not reusable.
SynDavers cost approximately forty thousand dollars, but as Sakezles points out, this is money well spent because these are things that may be used more than once.
In addition to that, he shows off some of the functions of the model by making it open its eyes and move its arm, which is very surprising for the Sharks.
They individually make their way back to their seats and begin conducting business conversations, clearly impressed by the scientific technology shown.
Herjavec admits that everything he has seen thus far is fairly amazing and then inquires as to whether or not the company has already achieved any sales.
Everyone in the group is pleasantly surprised to learn that SynDaver has already achieved $10 million in sales; this news comes the as good news.
These total sales were accumulated over the course of three years.
Sakezles defends the worth of his firm by stating that the company’s sales double with each passing year and that the company is a part of a partnership that anticipates producing $150 million during the future year.
O’Leary asks how he should value the company, and Sakezles provides an answer.
They are the only firm that manufactures this kind of product, and they have 10 patents to ensure that they will continue to be the only company that does so. In addition, the business is lucrative.
O’Leary explains his connections inside the medical industry and how the money flows through it, and Sakezles says that he could make “quite a bit” of money if he “wanted to” do it. O’Leary continues to discuss his ties within the medical field.
Finally, Barbara Corcoran raises her voice and explains that the reason why people aren’t gushing about his product just yet is that he needs a businessman to represent SynDaver, and he does not have one of those. Barbara Corcoran.
Because she was uncertain that he would be successful, she decided to forego the investment.
Herjavec, on the other hand, recognizes that there is a method to his apparent insanity and explains that he understands the reasoning behind Sakezles’ choice to place other considerations ahead of profit in his list of priorities.
Christopher only shrugs when O’Leary asks how and when he would receive his money back if he were to invest because he does not know when that would happen or how big the company would even get. O’Leary is interested in investing.
Greiner explains that the issue with him is that he does not have the enthusiasm for the business, which causes her to question whether or not he would be able to preserve her investment if she were to give him her money.
Because of the unpredictability of the situation, she does not make any investments either. O’Leary also decides to leave the competition because he finds everything “underwhelming.”
Christopher is left with only two Sharks to choose from, but there is still a glimmer of hope for him when Herjavec reveals that he is interested in the complexities of the business.
He thinks that he has the potential to become fairly successful and that all that is required of them is to clear a road to market and sales.
However, he is aware of Sakezles’ reluctance to reach out and seize the opportunity, which ultimately prevented the other Sharks from taking advantage of the situation.
However, Herjavec decides to present a proposal to the other party. In exchange for $3 million, he would require an equal board representation and a stake in the company equivalent to 35 percent.
He has a strong desire to overtake Sakezles as the most passionate person working for the organization.
Surprisingly, Sakezles declined the offer because Herjavec demands a greater share of the equity than Sakezles is willing to deal with at this time.
Herjavec makes his voice heard and reduces the stock percentage for the initial $3 million investment to 25 percent.
Herjavec sought assistance from Mark Cuban but was unsuccessful after Cuban backed out of the deal.
Sakezles evaluates his options and decides that this is the best offer, and walks away, having completed the most lucrative transaction in Shark Tank’s history.
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
Dr. Christopher Sakezles, the SynDaver Labs founder, appeared on an episode of “Shark Tank” in 2015 and received an investment from Robert Herjavec in the amount of $3 million.
Sakezles reports that the show’s publicist told him a few days after the episode aired that the arrangement wasn’t going to happen because it wasn’t in the show’s best interest. The Tampa Bay Times quoted Sakezles as saying it was unexpected.
Sakezles, despite that, has stated he was not unduly concerned about losing the investment, which is worth multiple millions of dollars. He is making preparations to launch SynDaver Labs to the public.
The world’s first synthetic dog was unveiled by SynDaver Labs in the year 2016. The company has started a campaign on Indiegogo to raise $24 million so that they can produce more of them and distribute them to veterinary colleges.
As of May 2022, SynDaver is still in business and making millions of dollars in sales.
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.
What Is the Net Worth of SynDaver Labs?
The valuation of SynDaver Labs when it appeared on Shark Tank was $30 Million. However, as of May 2022, the net worth of SynDaver Labs is around $25 Million.