Nano Interface Technology, Inc. to Present at Medtech Insight's ``Investment In Innovation'' Boston Conference
Nano Interface Technology, Inc. (NITI) has developed nanotechnology-derived economical ultra-pure coatings for orthopedic and dental implants which FDA has been looking for many years. The NIH Nanotech review panel validates NITI's proprietary technology by stating, "excellent quality of the product and its enormous clinical benefits." For the last 20 years, the lifespan of orthopedic and dental implants has been 10-12 years with revision rate of 17%. The ultra-pure coatings developed by the NITI will reduce the postoperative pain and increase the lifespan of these implants from 12 years to 20 years or longer resulting in reduced revision. In terms of immediate benefits, the reduced pain will significantly decrease the use of high strength painkillers which will improve the quality of life of the patients. The reduction in the revision rate of hip and knee implants from 17% to 12% has the potential of saving $825M per year in the US alone. Since this material is currently used for the coating of implants, implants developed using purer material will easily get the FDA and clinical acceptance. It will be widely accepted by the consumers because the cost of these implants will be lower than the existing coated implants.
“excellent quality of the product and its enormous clinical benefits.”
NITI has completed the research and will market the products after in vivo studies in the next 3 years. NITI has reached agreements with two Indian firms -- one for the clinical studies in India and the other for the marketing of orthopedic and dental implants in Asia, Arab Countries, Ukraine and Russia. Two leading international companies for the dental implants have contacted NITI for the partnership. The worldwide market size of the orthopedic and dental implants is $15B per year with 15% growth rate. The current growth rate of 15% will increase to 25% due to the increase in the elderly population and unavailability of several painkillers for arthritis, resulting in $30B market by the year 2009. NITI foresees annual revenue of $133 Millions by 2010-2012 based on market shares of 1% in orthopedic implants and 10% in dental implants. NITI's product offers excellent opportunity for capturing 70% of $15B market of hip, knee and dental implants by providing superior coatings of biomaterials on the implants. Certain statements included in this press release may constitute forward-looking statements.
Medtech Insight, a division of Windhover Information Inc., is the leading provider of business information and market intelligence for the medical technology marketplace. To register for the "Investment In Innovation Boston" conference or for more information on Medtech Insight, please call Kristy Grimes at 480-985-9512, e-mail firstname.lastname@example.org, or visit www.medtechinsight.com.