YORKSHIRE EXPERTS COLLABORATE TO DEVELOP NEW CORONARY TECHNOLOGY

24 June 2010

A Leeds-based medical device company is seeking £3m investment to fulfil its ambitious plans to bring the first biodegradable coronary stent to the worldwide market.

 

Arterius Ltd is one of only a handful of companies developing this innovative technology, which is set to significantly cut the cost of heart disease treatment in the UK and across the globe.

 

Coronary stent technology has been developed over the years from the bare metal stent, which has a 30 per cent failure rate, to the most recent invention, the drug eluting stent. This newer technology is flawed however, as blood clotting can still occur. A fully biodegradable stent is considered to be the answer to these problems and Arterius’ work is set to have a major impact on patient well-being as well as the overall cost of treatment.

 

The development work is being led by industry experts Kadem Al-Lamee and Alistair Taylor with support from three UK universities.

 

Prototypes will be developed by Professor Phil Coates and his team at The University of Bradford, IRC in Polymer Engineering. The company are hopeful that the patented technology will enter Phase 1 clinical trials by 2014.

 

Founders of Arterius, Kadem Al-Lamee and Alistair Taylor joined forces in 2009 to combine their wealth of experience in the stent industry to design a truly innovative product. Alistair was co-founder and chairman of Oxfordshire-based Lombard Medical which bought Kadem Al-Lamee’s company Polymed, a developer of coatings for medical devices, in 2001. Alistair was also the CEO of Schneider AG which developed the first ever stent.

 

The pair are currently funding the business from their own resources but are now seeking further capital and are taking part in the Investing in Health programme managed by Grant Thornton.

 

Kadem Al-Lamee, co-founder of Arterius, said: “We are looking for up to £3m of investment to further develop the technology and take it safely to Phase 1 clinical trials. We are estimating a 10 per cent share of a £1.2bn market within the next few years and can offer investors an excellent return on their investment.

 

“The team behind the Investing in Health programme has been invaluable in introducing us to potential investors, both nationally and internationally. They have also helped us shape our business plan so that we can approach investors with a solid proposition.”

 

Lisa Ward, manager of the Investing in Health programme at Grant Thornton, comments on the market opportunities for Arterius. She said: “The cost of heart disease to national economies is huge. Estimates vary, but it is suggested to be around £192bn in Europe alone. The ageing population is driving further growth in the market and Arterius is well-placed to take advantage of this and target some of the major medical device companies.”

 

The Investing in Health programme forms part of Yorkshire Forward’s ongoing strategy to support the development of the healthcare technologies industry in Yorkshire and Humber.