Raz Bar-On, CEO, Nitinotes, a med firm that develops breakthrough, minimally invasive devices for the multi-billion-dollar obesity market have created a niche for himself in the industry. He is one of the seasoned business executives with 20 + years of experience in guiding medical devices – from conception to production. Specializing in delivery systems, implants, stents, diagnostics, and special materials, Raz Bar-On has contributed his unique blend of technical and business insight to numerous MedTech innovations worldwide. In an interview he speaks on an array of topics. Excerpts:

Conception of Nitinnotes

Founded in 2014, Nitinotes Ltd. is developing breakthrough devices for the multi-billion-dollar obesity market. The concept is to convert laparoscopic sleeve gastrectomy to an operator-friendly endoscopic procedure that reduces the stomach volume internally. “Nitinotes will introduce an innovative disposable toolset re-inventing the technique, so that it may be applied to a much greater patient population, to be performed by gastroenterologists as well as surgeons, in the outpatient clinic, without the need for general anesthesia, and at much lower cost. Our procedure creates an effect of stomach volume restriction and motility impair” notes Raz.

One of the biggest health stories of the year has been the rise in obesity among both adults and children in the U.S. Today, there are no effective anti-obesity drugs, observes Raz. The gold standard treatment available is a highly invasive surgical procedures that irreversibly reconfigures the GI anatomy. Not surprisingly, most people do not seek this option. Just over 2% of the people who need obesity treatment undergo surgery each year. Nitinotes develops EndoZip™, a fully automated, operator-independent minimally invasive gastroscopic suturing system that allows gastroenterologists as well as surgeons to bring a durable solution to their patients. The system creates stomach volume restriction and motility impairment, both of which are needed to help obese patients with weight reduction.

How COVID-19 is Re-shaping Medtech Industry

Noting that Covid-19 is here to stay, Raz notes that the need of the hour is to adapt ourselves to become more flexible, creative and to continue working in a more remote working environment. “I believe that the pandemic will not be a game-changer in Medtech innovations field but may impact companies negatively that are not flexible and dynamic or the ones that were not been successful before the pandemic struck.

The Flagship Product – Endozip

Endozip™ is a fully automated, operator–independent, minimally-invasive suturing system that enables creation of durable restrictive sutures in the GI space. Making safe and effective endoscopic weight-loss treatments are accessible to both patients and their physicians, adds Raz.

The Medtech Journey

Starting a company is a leap of faith, but the more understanding of the risk, the better, notes this entrepreneur. “The risk that any startup will fail is statistically high, and it is even greater in the life sciences with the additional question of whether the technology will work at all., risk management process should not be forgotten.”

Leadership Traits

A full commitment to project success, coupled with the right combination of charisma, enthusiasm, and self-assurance, luck and timing can help. Raz undermines the need to set clear goals. “Being persistent in achieving them and able to prioritize one’s goals and being responsible for accomplishing them goes a long way.” He also recommends that the leaders be more flexible in their mindset and try new approaches and ideas. “Take responsibility for your own mistakes and expect other employees to do the same.”

Word of Advice

“Self-assurance based on past achievements, combined with experience can help a lot to understand and clarify the difference between a challenge and a failure. Lack of financing, unexpected competition, and regulatory barriers are few challenges entrepreneurs are posed with.”

The Success Mantra

People are the most important asset of the organization and the key factor to success, according to Raz. “Motivation is the art of getting people to do what you want them to do. Don’t let the fear of failure to hold you back. Work hard all the way to success,” he signs off.