Nano Interface Technology, Inc. Explores to Open a Division in India to Capture India’s Exploding Orthopedic and Dental Implants Market
LORTON, Va.--(BUSINESS WIRE)--Nano Interface Technology, Inc.:
“Excellent quality of this product and its enormous clinical benefits.”
Dr. C. P. Singh, President and CEO of Nano Interface Technology, Inc. (NITI) met with Indian Federal Minister Mr. Ram Vilas Paswan, Minister of Chemicals, Fertilizers and Steel to explore the possibility of establishing a factory in India for orthopedic and dental implants because India is projected to be the largest market for orthopedic and dental implants in the next 5 years. The hip, knee and dental implants have a worldwide market size of $15 billion dollar with growth rate of 15-25%. The growth rate of knee replacement in India has jumped to 50% after the knee replacement of the former Indian Prime Minister Mr. Atal Bihari Vajpayee. The knee replacement of Mr. Vajpayee was not very successful due to several factors and one of them is the impurity in the coatings of knee implants. NITI has developed nanotechnology-derived economical ultra-pure coatings for orthopedic and dental implants. The National Institutes of Health Nanotech review panel has validated NITI’s proprietary technology by stating, “Excellent quality of this product and its enormous clinical benefits.” Dr. Singh says, “NITI’s ultra-pure coating biomaterial provides 600% increase in binding to the bone proteins as compared to competitors’ products according to the evaluation by the researchers at the Virginia Commonwealth University. This will lead to quick recovery of the patients and longer lifespan of hip, knee and dental implants. For the last 20 years, the lifespan of orthopedic and dental implants has been 10-12 years with revision rate of 17%. The orthopedic surgeons have made great improvement in the operating procedures of the hip and knee implants. But there has been no increase in the lifespan of hip or knee implants because the quality of coatings on the implants has not improved over the decades. The current technology provides 30-66% pure coatings on the implants. The ultra-pure (99+%) coatings developed by the NITI are expected to increase the lifespan of these implants from 12 years to 20 years, resulting in reduced revision rate. It will also reduce the need for high strength painkillers after surgery. Since these biomaterials are currently used in coatings of implants, therefore implants developed using NITI’s purer biomaterials will easily get the FDA approval. It will be widely accepted by the surgeons because the cost of coated implants will be less than the existing coated implants. NITI’s product provides similar financial opportunity like stents’ market. For example, Boston Scientific captured 70% of stents’ market due to the better coating of drugs on the stent.”
Dr. Singh also discussed business opportunity with Dr. Ajay Kumar, President-Elect of the Indian Medical Association which has 170,000 physicians and surgeons as members. Dr. Kumar says, “The nanotechnology will provide far-reaching benefits in the healthcare arena and Nano Interface Technology is poised to provide one of such benefits by bringing a better quality nanotechnology-derived orthopedic and dental implants. A 600% increase in the binding of bone proteins to the coating materials is a leap-frog advancement in the coating of implants. Such orthopedic and dental implants will increase the success rate of hip and knee replacements significantly.” He further adds, “The nanotechnology can lead to paradigm shift in the market shares of the various existing medicines and devices due to the better performances by new formulations or devices. The first nanotechnology-based medicine called Neoral – a nano-size formulation of Cyclosporin, has been in the market for 10 years with market capitalization of $1 billion. Whereas, micron-size formulation of the same medicine has a market share of only $200 million. Another recently FDA approved nanotechnology-based anticancer drug – Abraxane (a formulation of Paclitaxel - widely used in cancer patients) has been very successful due to significantly lower side effects as compared to old formulation of the same drug in the market. The small company like Abraxis Bioscience Inc. may repeat the history by capturing Paclitaxel market significantly, similar to the Cyclosporin market.”
About Nano Interface Technology, Inc
NITI, located in Washington DC Metro area, develops and markets cutting–edge technologies designed to make biomedical devices more effective. The Company develops enabling technologies for implantable medical devices such as hip, knee and dental implants. For information, Visit http://www.nanointerfacetech.com.
Cautionary Forward-Looking Statements
Certain statements included in this press release may constitute forward-looking statements. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors including, but not limited to: the successful implementation of NITI’s manufacturing process and acceptance of NITI’s products by the market.