Opto Circuits (I) Ltd.’s (OCI) newly incorporated subsidiary Maxcor Lifesience, Inc., entered into a strategic cooperation agreement with Micell Technologies, Inc., based in Raleigh, North Carolina, U.S.A. Maxcor and Micell will co-operate in developing and commercializing leading edge Rapamycin (Sirolimus) - based Drug Eluting Stents (DES) and Drug Eluting Balloons (DEB) which will complement OCI’s present range of successful paclitaxel-based drug-device combination products. Offering products with both compounds will enable OCI to maximize its market by way of addressing additional clinical scenarios. The jointly-developed offerings will have cardio-vascular applications that will advance the treatment of many clinical conditions while also minimizing their potential risks or side-effects.
Vinod Ramnani, Chairman & Managing Director, OCI, commented, “The science of medicating an interventional device is highly complex and requires exceptional clinical expertise and know-how. We are proud to begin working with Micell which has a strong intellectual property portfolio in this arena and which we hope will help give momentum to our jointly developed new products in new and regulated markets.”
About Opto Circuits (India) Ltd.
Opto Circuits (India) Ltd. (OCI) (BSE Code: 532391; NSE Symbol: OPTOCIRCUI) is a 100 percent EOU and a leading manufacturer of healthcare equipments in India. The product profile includes digital thermometers, sensors, probes, pulse oximeters, patient monitoring systems, stents, catheters and other innovative products. In 2001, OCI acquired 60 per cent stake in Advanced Micronic Devices (AMDL) to market and distribute its products in India. Mediaid came into existence with the acquisition of the patient monitoring division of Palco Labs, US, in end-2003 and it now directly markets OCI’s products in the US. OCI acquired EuroCor GmbH in 2006. EuroCor manufactures Cardiac Stents of various types, including Drug Eluting Coronary stents used in critical cardiac care. In April 2007, OCI ventured into new product segments - Urology, Gastroenterology, Gynecology and Orthopedics after acquiring Devon Innovations Private Limited (Bangalore) and Ormed Medical Technology Limited (Chennai). OCI completed the acquisition of US based Criticare Systems, Inc. in April 2008. Criticare designs, manufactures, and markets leading edge patient monitoring systems, vital signs monitors and gas benches for a wide range of hospitals and alternate health care environments throughout the world. Visit us at www.optoindia.com.
About Micell Technologies, Inc.
About Micell Technologies Inc: Micell Technologies is a privately-held, early-stage biomedical company dedicated to applying its unique surface and polymer modification technologies for improved patient benefits for medical device and drug delivery applications. Its first product, MiStent™, is a rapid absorbing coated drug-eluting stent (DES) with precise control of drug release and pharmacokinetics. To learn more, please visit www.micell.com.
