‘28.9 million Indians suffering from at least one cardiovascular disease'
If everything goes as per plan, patients suffering with heart ailments can hope to get the life saving stents at half the price.
What is more the new stents made of polymeric bio-absorbable material promises to be one better than the widely used metal stents.
The ‘3V-Avatar' as the country's first bio-absorbable endovascular drug coated stent is called, commenced its animal trials on Tuesday, and hopes to hit the market by 2014-15.
This product is launched by S3V Vascular Technologies (cell: 09849019432).
The fourth generation medical device is the result of the initiative taken by four business management students of Indian School of Business (ISB). N.G. Badari Narayan, Chava Satyanarayana, Aju Jacob and Ravi Prayaga are the first batch students of Post Graduate programme in Management for Senior Executives (PGPMAX) at ISB.
Though hailing from diverse backgrounds, they formed a team to manufacture hi-tech globally competitive medical devices at affordable price.
“It is a dream come true for us in ISB”, remarked its Dean, Ajit Rangnekar.
Speaking to presspersons here on Tuesday, Mr. Narayan said their stent was unique in that it got dissolved in 18 months allowing the blocked vessel to resume its natural function of constriction and dilation.
“There is no danger of late stent clotting. Moreover, the 3V Avatar keeps releasing a pro healing drug during its dissolving phase and anti-proliferative drugs for the first 90 days,” Mr. Narayan explained.
He said the market for interventional cardiology products was growing in the country with an estimated 28.9 million Indians suffering from at least one cardiovascular disease.
“We plan to build a global Indian company,” Mr. Narayan said.
The cutting edge medical technology is being set up with an investment of Rs. 140 crore. Of this Rs. 20 crore is the promoters commitment, Rs. 30 crore is the share of strategic investors and the rest is being raised from banks.
The company also plans to establish itself in certain niche areas of current global research and develop internationally patentable technologies.