It is estimated that the potential market for treatment of patients to prevent heart attack using interventional procedures is in excess of €5billion worldwide.
The Company has initiated its first clinical study and intends to commence commercialization once it has CE Mark approval. Sales will initially be via a network of distributors specializing in the marketing and sale of products used in the interventional cardiology field. In parallel the Company will generate additional value by carrying out further clinical trials that will lead to launch of the product in other markets such as in Asia and the United States.
As far as we are aware there are no competitors in the field developing cryotherapy products for use in interventional cardiology to treat atherosclerotic plaque. Future competition is expected from technologies such as metallic and biodegradable stents and also drug eluting balloons. However none of these technologies are currently approved for treatment of inflamed plaques to prevent future heart attack.