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Nano Interface Technology, Inc. to Present at 2007 Medtech Insight's "Investment In Innovation" Conference at San Francisco
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 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 (99+%) coatings developed by the NITI will increase the lifespan of these implants from 12 years to 20 years resulting in reduced revisions. It will also reduce the need of high strength painkillers. According to FDA report, current technology provides 30% - 66% pure coatings. Since this biomaterial is currently used in coatings of implants, therefore implants developed using this purer biomaterials will easily get the FDA 510K approval. It will be widely accepted by the surgeons because the cost of these coated implants will be significantly lower than the cost of existing coated implants.
NITI has completed the preclinical research and will market the products after animal studies in the next 1 year. NITI plans to introduce its products in Asian market in 1 year and capture Asian market first which is growing at the rate of 30%. NITI plans to market its products in the US after 3 years. NITI plans to license its technology to the existing players in the dental implants and stents business. Several partnerships for financing and marketing are being worked out. The worldwide market size of the orthopedic and dental implants is $25B per year with 15% growth rate. The growth rate of 15% will increase to 25% due to the longer life expectancy and unavailability of several painkillers for arthritis, resulting in $30B market by 2009. The major part of the revenue will be generated from the sales of orthopedic implants. The market share will grow rapidly because NITI‚s product will reduce pain and revision rate. NITI can capture 1% market in 4 years resulting in revenue of $300M. The reduction in the revision rate of hip and knee implants from 17% to 12% has the potential of saving $ 832M per year in the US alone which will provide driving force for exponential growth in the market share. Recently, recognized problem with the drug-coated stents "late stent thrombosis" can be solved using NITI‚s nanohydroxyapatite coating technology. NITI‚s nanohydroxyapatite coating technology will be licensed to the existing stent manufacturers which is $6B market. For general information, please visit http://www.nanointerfacetech.com . Certain statements included in this press release may constitute forward-looking statements.
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