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Nano Interface Technology, Inc. presented its innovative products at the Nanotech Venture Fair, which took place on June 7-8, 2005 at Anaheim, CA.
Nano Interface Technology, Inc. (NITI) founded in 1997 has developed nanotechnology-derived economical ultra-pure coatings for orthopedic and dental implants which FDA has been in quest 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 12 years with revision rate of 17%. The current coating technology can provide only 30%-66% pure coatings which increases lifespan to 12-15 years and costs twice of the noncoated implants. Therefore, currently available coated-implants are not very successful against noncoated implants. The ultra-pure coatings developed by the NITI will increase the lifespan of these implants from 12 years to 20 years or longer at lower cost resulting in significantly reduced revision. It will also reduce the use of high strength painkillers. 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 in coating of implants, therefore implants developed using this purer material will easily get FDA approval without any clinical studies. It will be widely accepted by the consumers because the cost of these implants will be significantly lower than the existing cost of such implants.
NITI has completed the research and will market the products in three years after in vivo studies. NITI will provide coatings for orthopedic implants to manufacturers for higher growth in revenue and plans to license its technology to the existing players in the dental implants business. The leading dental implants companies have already contacted NITI for partnership. The worldwide market size of the orthopedic and dental implants is $15B per year with 15% growth rate. The growth rate of 15% will increase to 25% due to the longer life expectancy and several painkillers for arthritis are being pulled out from the market, resulting in $30B market by 2009. NITI foresees annual revenue of $133 Million based on market shares of 1% in orthopedic and 10% in dental implants in five to seven years. NITI provides excellent opportunity for capturing 70% of $15B implants' market by providing superior coatings of biomaterials on the implants, similar to the success of Boston Scientific in $4B stents' market by providing better coatings of drugs on the stents.
Certain statements included in this press release may constitute forward-looking statements.
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
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