In this episode of Medsider Radio, we sat down with Daniel Estay, founder and CEO of SonoVascular.SonoVascular has developed a novel mechanical-pharmaco ultrasound facilitated thrombectomy system, SonoThrombectomy, that utilizes microbubble-mediated cavitation as a core enabling mechanism to remove blood clots more effectively.Dan has over 35 years of global medtech experience, including business development roles at Johnson & Johnson, where he worked on deals that helped create the world's first drug-eluting stent, and six years leading Abbott's cardiovascular device business across Asia-Pacific and Japan. He also serves as a Mentor-in-Residence at Duke University's New Ventures group.In this interview, Dan discusses how to evaluate whether a medtech opportunity is commercially viable beyond technical feasibility, how trust and long-standing relationships matter more than geography when selecting first-in-human sites, and why cap table strategy requires deliberate thinking from the earliest stages — including when to transition from convertible notes to priced rounds.Before we dive into the discussion, I wanted to mention a few things:First, if you’re into learning from medical device founders and CEOs and want to know when new interviews are live, head over to Medsider.com and sign up for our free newsletter.And if you’re ready to level up your medtech game, you should check out Medsider Courses — 8-week masterclasses covering topics like fundraising, M&A and exit planning, design and development, clinical and regulatory strategy, and commercialization.These courses, featuring hard-earned lessons from elite medtech CEOs, can be purchased individually or come free with our All-Access Pass.If you'd rather read than listen, here's a link to the full interview with Daniel Estay.KEY MOMENTS FROM THE INTERVIEW(02:52) - An overview of Dan Estay’s background and the journey that led him to SonoVascular (08:04) - The core idea behind SonoVascular — combining mechanical and pharmacological therapy to treat thrombosis (13:33) - Why differentiation alone isn’t enough, and how Dan evaluates market size and viability before building (18:38) - The four risks every medtech founder should assess: technical, clinical, regulatory, and market (21:55) - Why Dan chose Chile for SonoVascular's FIH study and what he looks for in a clinical trial site (29:05) - Why Dan would rethink his use of convertible notes and approach the cap table more strategically (38:28) - Why grants should supplement your funding strategy, not lead it (42:46) - What Dan looks for when hiring for startups