As the controversy regarding drug eluting stent technology evolves, innovations in bare-stent technology are timely
Today, OrbusNeich announced plans to hire 150-200 new employees in the US over the next two years. OrbusNeich is a maker of innovative bare metal stent technology. The Hong Kong based company, which has its US based facility in Fort Lauderdale, needs to develop clinical and research teams to begin its US based research trials. OrbusNeich's stent, known as the blazer, is already available in Europe, the middle east and South America.
If all goes well, the trial which would follow patients for about nine months would produce results by 2010. The trial will be performed at a cost of $5-10 million.
Stephen Dunn, director of research at Boca Raton-based Dawson James Securities, said the health concerns raised about drug-eluting stents in clinical trials has opened the door for bare metal stents to grab a larger piece of the market. Bare metal stents also cost less, making them preferred by the insurance industry and government health programs, Dunn added.
OrbusNeich is also working on a hybrid stent. It would have the antibodies on the inside and a drug coating outside. That one is in development in Fort Lauderdale.
In order to fund a U.S. clinical trial for the Genous or the hybrid stent, OrbusNeich is considering a public offering in the U.S., Camp said. Other options include a private equity investment or a partnership with a larger corporation.
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