S3V Vascular Technologies, a startup floated by four graduates of the founding class of PGPMAX (Post Graduate Diploma in Management for Executives) at the Indian School of Business, on Tuesday launched its first drug-coated stent — 3V-Avatar.
3V-Avatar, which the company claims to be the country’s first bioabsorbable endovascular drug-coated stent, was launched for animal trials today and is awaiting approvals from the Drug Controller General of India (DCGI) before initiating the clinical trials.
“3V-Avatar not only restores blood flow by opening a blocked vessel, but most importantly, it releases a pro-healing drug during its life span of about 18 months and dissolves after fulfilling its life-saving vessel support role. Patients with this third-generation stent will be able to undergo CT and MRI scans and will also be able to undergo further surgical interventions, if necessary,” N G Badari Narayan, managing director of S3V, told reporters here.
According to Aju Jacob, director, an estimated 28.9 million Indians suffer from at least one cardiovascular disease or a disorder with the disease prevalence tripling over the past 30 years.
“The overall interventional cardiology products market in India will experience strong growth to touch $635.7 million by 2012, with the key demand drivers being a surge in disease incidence due to affluence and lifestyle changes,” he added.
Stating that company’s fourth-generation stent would hit the market by 2014-15, Narayan said, their future product line would include stents for all applications and also catheters, disposables and other devices used in various angiographic procedures in radiology and cardiology.
S3V is planning to set up an integrated facility for the development and manufacturing of these devices, entailing an investment of Rs 140 crore. The facility will be built on 15 acre with a built-up area of 200,000 sq ft which will house a manufacturing division where bioabsorbable polymers will be formulated, precision tubes manufactured and scaffolds fabricated.
“The facility will also have an integrated R&D centre for drug delivery, cell culture, analysis, metallurgical and design laboratories. We have identified one location in Andhra Pradesh and two in Karnataka for the facility. Once finalised, it will take 18 months to commence production,” Narayan said, adding that the company was now in the process of tying up funds.
