| The company had recently completed clinical trials on patients at the Asian Heart Institute and Research Centre in Mumbai and the Nizam Institute of Medical Sciences (NIMS) in Hyderabad. It sees around $50 million (approximately Rs 200 crore) market for its CHF device in the country, covering close to 2 lakh potential candidates. |
| Cancion System is a technology powered by an external pump that improves the function of the heart by enhancing blood flow to vital organs and thereby reducing the work of the heart to pump blood. |
| "We have completed clinical investigation of Cancion System on 250 patients worldwide, including 30 in India, and had just begun the commercial production of the new device at our US facility," Ken Charhut, president and chief executive officer of Orqis Medical Corporation, told Business Standard at the Cardiological Society of India's conference held in Hyderabad recently. |
| According to Charhut, India is Oqris' first target in Asia to give a major push to its new device. As a step towards this, it has recently set up its Indian office at Mumbai with a four-member team that has already been in talks with a few heart institutes in the country. The company plans to launch the product in India in early 2008. |
| "We see 2 lakh potential candidates for Cancion in the US and an equal number in India. We have priced the product at $10,000 for the US and European markets. We are yet to arrive at an India-specific pricing policy. All I can say at the moment is that it would be a factor less than the US price," Charhut said. |
| Orqis, a privately-held company, had invested $70 million in capital expenditure and research and development, among others, since its inception in 1997. It is currently developing another product, Exeleras System, an implantable system to help patients who suffer from chronic congestive heart failure. Thus far, the company's devices had been issued 14 US patents covering over 285 claims. |
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