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QT Vascular sets up drug-coating development centre in Singapore
MEDICAL supplies group QT Vascular said on Monday night it has set up its drug-coating development centre in Singapore.
This was done with the support of the Singapore Economic Development Board.
It said the centre will help to boost the group's research and development efforts in its Chocolate Touch drug-coated angioplasty balloon programme.
Chocolate Touch is based on the Chocolate angioplasty balloon platform, which reduces acute trauma and the need for unplanned stenting in the peripheral arteries as compared to conventional balloons.
The group's Chocolate PTA Balloon Catheter was the first medical interventional product from Singapore to receive the US Food and Drug Administration's clearance.
Drug-coated balloons are creating a significant new market space, said QT Vascular, adding that in Europe and the United States these are rapidly becoming the standard of care for certain peripheral interventions.
By some estimates, the drug-coated balloons market in the US may be worth US$100 million in 2015 and US$600 million in 2018, the group said.