Hyderabad: ISB alumni Badari Narayan founded S3V Vascular Technologies, a Bengaluru-based medical devices manufacturing company has launched percutaneous transluminal coronary angioplasty (PTCA) balloon catheters in India. PTCA is a minimally invasive procedure to open blocked coronary arteries, allowing blood to circulate unobstructed to the heart muscle.
Badari Narayan, MD, S3V Vascular Technologies, said, “Currently these medical devices are imported at high cost. Our product provides improved trackability, pushability, low profile and higher burst pressure.”
The company has set up its manufacturing facility at Hootgalli Industrial Area, Mysuru, Karnataka. The facility will develop more medical devices and has so far seen an investment of Rs 70 crore.
He added, “Indian medical devices market is huge and is expected to touch $8.6 billion by 2020. The market is expected to grow 15 to 20 per cent annually, which is much higher than the global industry growth at 5 to 7 per cent.”
The Technology Development Board (TDB), Ministry of Science & Technology, Government of India has entered into an agreement with S3V Vascular Technologies to provide financial assistance to the company to set up an integrated PTCA balloon catheter manufacturing plant and to get USFDA approval for the device.
Subsequently, S3V has entered into a non-exclusive global license and supply agreement with the US-based DSM Biomedical, a biomedical science and regenerative medicine company. The technology transfer from DSM is in progress.
Adding further, Badari Narayan said, “We currently commercialising current generation drug eluting stent (DES). We have initiated CE certification (European approval) for the DES which will be the first of its kind in the world.”
The company is also exploring to launch products such as coated central venous catheter and urology catheter.