LORTON, Va., Nov. 14 /PRNewswire/ -- Nano Interface Technology, Inc. (NITI) has been chosen as one of the 50 National Winners of 2005 Pitching Across America Competition. NITI is the only Nanotechnology Company in top 5 winners (http://www.fundingpost.com/paa-winners.asp?refer=PAA-winner). FundingPost has established the competition in which 100 Venture Capital Funds and Angel Investors participated as judges, voting on 300 business summaries from emerging companies nationwide. The largest Venture Capital competition ever organized, this year's "Pitching Across America" was sponsored by Wolf Block and PR Newswire. "We are very pleased to be selected among National winners of Pitching across America," said C. P. Singh, CEO of Nano Interface Technology. "Winning this competition from 300 contestants provides strong validation for our product, team and business model. This truly provides us an excellent exposure with the potential investors and allows us to attract good quality business partners." "Ever since Nano Interface Technology signed up for FundingPost, we knew they were a success-story in the making," said Joe Rubin, Director, FundingPost, "They have amazing technology and a team that knows how to take this company to the next level. NITI fills a strong need in the marketplace and we are proud that the Investors voted them as one of the winners of Pitching Across America!" About Company: NITI has developed nanotechnology-derived economical ultra-pure coatings for orthopedic and dental implants which FDA has been looking for many years. The NIH Nanotech review panel validates NITI's proprietary technology by stating "excellent quality of the product and its enormous clinical benefits." For the last 20 years, the lifespan of orthopedic and dental implants has been 10-12 years with revision rate of 17%. The ultra-pure coatings developed by the NITI will reduce the postoperative pain and increase the lifespan of these implants from 12 years to 20 years or longer resulting in reduced revision. In terms of immediate benefits, the reduced pain will significantly decrease the use of high strength painkillers which will improve the quality of life of the patients. The reduction in the revision rate of hip and knee implants from 17% to 12% has the potential of saving $900M per year in the US. Since this material is currently used for the coating of implants, therefore, implants developed using purer material will easily get rapid clinical acceptance and fast market penetration. NITI will market the products after in vivo studies in the next 3 years. The worldwide market size of the orthopedic and dental implants is $15B per year with 15%-25% growth rate. NITI foresees annual revenue of $228 Millions based on market shares of 0.5% ($187M) in orthopedic implants and 7% ($41M) in dental implants. NITI's product offers excellent opportunity for capturing 70% of the market by providing superior coatings of biomaterials on the implants. Certain statements included in this press release may constitute forward-looking statements. For more information, please visit http://www.nanointerfacetech.com.
SOURCE Nano Interface Technology, Inc.