Hyderabad cardiologist gets US patent for multi-functional cardiac occluder
HYDERABAD: An innovative device that can fix various types of cardiac defects, designed by Hyderabad-based Dr Nageswara Rao Koneti, who heads the Cardiology Division at Rainbow Children's Heart Institute, has been granted a US patent.
Called KONAR-MF Occluder, the multi-functional device can close septal defects in children and adults. It is a double umbrella disc device made of nitinol, a biocompatible nickel and titanium alloy, and is stretchable up to 15 mm. It can treat various conditions, including ventricular septal defects, coronary arteriovenous fistulas, and paravalvular leaks. The device has already been patented in India, Europe (European Commission), Euro-African countries, and South Korea.
The multifunctional device not only fixes multiple types of cardiac lesions but also makes advanced cardiac care more affordable for patients in India, as it costs just Rs 50,000 in India compared to Rs 1.2 lakh in Pakistan and Rs 2.5–6 lakhs in other parts of Asia and Europe, said Dr Koneti.
Terming this as a proud moment for Indian science, Dr Koneti said: "This US patent validates that innovations from India can meet global standards.
It took us over six years to develop the device, and we applied for CE approval in 2018.'
He said the US patent now paves the way for a US FDA (US Food and Drug Administration) approval for the device, which has already been implanted in about 10-15 patients in the US on compassionate grounds. "But we can also do clinical trials in the US if required," said Dr Koneti, who is a paediatric interventional cardiologist.
He pointed out that the device has already demonstrated its safety and efficacy through over 20 peer-reviewed studies, and over 10,000 of these devices have already been implanted in patients in over 90 countries across Asia, Europe, Latin America, and Africa since the device got CE approval in 2018. The device is manufactured by LifeTech Scientific of China.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
2 minutes ago
- Business Standard
Atomic Capital closes ₹400 cr maiden fund, to invest in startups over 3 yrs
Venture Capital firm Atomic Capital on Tuesday announced the final closure of its ₹400 crore maiden fund, which it plans to invest in early-stage consumer startups over the next 2-3 years. With an average first cheque size of ₹10 to 30 crore, the fund aims to build a curated portfolio of 10-12 companies, with a portion of the corpus reserved for follow-on investments, a company statement said. "Early growth investment fund Atomic Capital has announced the final close of its maiden fund with a corpus of over Rs 400 crore, focused on early growth-stage Indian consumer, consumer-tech, and consumer-enabler startups. "This is one of the largest debut funds dedicated to fuelling India's next wave of consumer growth," the statement said. The fund would be investing in early growth stage Indian consumer, consumer-tech, and consumer-enabler startups in sectors spanning food and beverages, nutraceuticals, personal care and beauty, jewellery, apparel and footwear, pet care, travel and accessories, electronics accessories, home furnishing, logistics, financial services, e-Commerce SaaS, omnichannel infrastructure and manufacturing. The first close of the fund was reached at ₹155 crore in 2024. Atomic Capital has already invested a total of ₹50 crore in four companies. "Our focus is on capital-efficient businesses addressing large and expanding markets. Over the next 2-3 years, we plan to deploy both initial and follow-on capital, aligned with our overall fund timeline of eight years. We are currently evaluating over 20 companies and have already issued a term sheet for our fifth investment," Atomic Capital, founder and managing partner, Apoorv Gautam said.
&w=3840&q=100)
Business Standard
2 minutes ago
- Business Standard
BIS exemption granted to 202 foreign manufacturers: Steel Ministry
The steel ministry said these exemptions are an ongoing process, and more licences may be exempted as requests are received New Delhi A total of 202 BIS (Bureau of Indian Standards) licences are now exempted in the Steel Import Monitoring System (SIMS) portal from the mandatory input-steel requirement for final products supplied by Integrated Steel Plants (ISPs), according to an official release by the Ministry of Steel. In its August 8 statement, the steel ministry said these licences were exempted based on declarations submitted by the concerned parties. The ministry further added that these exemptions are an ongoing process, and more licences may be exempted as requests are received. 72 foreign manufacturers exempted The exemption covers a total of 72 foreign manufacturers from 16 countries, including Japan, South Korea, Austria, Germany, Italy, France, the Netherlands, Russia, and the US. With over 80 licences, Japan leads the list. Of the total, 43 exemptions were for Japan's Nippon Steel Corporation. Japan was followed by South Korea with more than 50 licences. The move offers short-term relief to the industry, enabling foreign manufacturers to keep supplying steel to Indian ISPs without taking on extra compliance requirements under the SIMS framework. Quality control norms In an official release on June 13, the steel ministry said the manufacturers must use only those steel input materials that meet specific BIS specifications when producing certain finished steel products. The move was aimed at ensuring that the final product aligns with quality standards. The exemptions will facilitate the smooth flow of steel imports, particularly for ISPs and foreign manufacturers supplying steel to India.
Mint
2 minutes ago
- Mint
Motilal Oswal sees this multibagger AMC stock rising 15% to fresh record high. Should you buy?
Domestic brokerage firm Motilal Oswal, in its latest note, has maintained an optimistic outlook on Nippon Life India AMC, keeping its buy rating unchanged with a target price of ₹ 930 apiece, a record target for the stock. The target price also indicates an 15.4% upside for the stock. The brokerage highlighted the company's rapid growth in the domestic mutual fund industry, with expanding market share supported by consistent net inflows, strong SIP traction, and a healthy equity mix. According to Motilal, the company has delivered the fastest Quarterly Average Assets Under Management (QAAUM) growth in the industry, rising 27% YoY to ₹ 6.1 trillion as of June 2025. This growth has lifted the company's overall market share to 8.5%, an increase of 23 basis points. Its SIP AUM rose 27% YoY to ₹ 1.5 trillion, with 75% of SIPs below ₹ 10,000, a structure that ensures stability and high retention. The brokerage noted that NAM remains one of the largest ETF players, with an AUM of ₹ 1.7 trillion, accounting for 52% of industry folios and 51% of ETF volumes on the BSE and NSE. As of June 2025, NAM's Gold ETF ranked among the world's top 10 by AUM. Motilal also underscored the company's progress in scaling its alternatives and offshore businesses, with ₹ 81 billion in AIF commitments and ₹ 166 billion in offshore AUM. The brokerage believes these segments will serve as incremental growth levers beyond the core mutual fund franchise, gaining increasing traction from institutional and global investors. 'NAM is strategically scaling its Specialized Investment Fund (SIF) platform as a high-potential standalone business focused on differentiated, alpha-generating strategies. Backed by a dedicated team and strong management commitment, the SIF vertical is being positioned as a key long-term growth engine,' said the brokerage. It also pointed out that the company's mutual fund segment performance reflects its focused strategy on scaling retail participation, driving product innovation, and enhancing operational efficiency, positioning it as a credible compounding franchise in the Indian asset management industry. The company's shares have been on a steady uptrend, ending the past four months in the green. Even in July, they managed to close higher despite a sharp sell-off in the broader market, while also hitting a fresh all-time high of ₹ 877.65. This rally has driven a 255% gain from the March 2023 lows. During this period, the stock finished 80% of the months in positive territory, with its strongest month recorded in April 2025, a 25% gain. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
