Tuesday, April 6, 2004

Seizing the nano edge
Nanotechnology has plenty to offer
Surajeet Das Gupta / New Delhi   March 27,2004

It’s a project to turn science fiction into futuristic reality. At Velbionanotech, a little-       
known Bangalore-based company, researchers are working on path breaking projects  
that — if successful — might dramatically reduce the need for heart surgery or for  

Kidney stone operations.
What’s the frontier technology Velbionanotech is developing? It’s working on  
designing nanochips which will deliver a drug exactly to the affected area in the
body. So, one project aims to develop a chip which when injected into the body will 
head towards the kidney and remove stones. Another — even more ambitious project
—    aims to develop a nanochip that will move into the heart and reduce the fatty
—     tissues that cause arteriosclerosis.

 Says Joseph Asantraj, chairman and CEO, Velbionanotech, who has been  
focusing on    these areas for the last two years: “We have completed the designing
stage of the   nanochips and have started developing a prototype of the product.
Commercialization   will take another two to three years. And these products will be
Cheaper than undergoing surgery.”
Asantraj’s dream is still a long way from reality. But nanotechnology is already
transforming the world in which we live. The textile industry is selling stain- and
Wrinkle-resistant fabrics based on nanotechnology. And companies like LG and
Samsung are selling nanotech-based refrigerators that keep food fresh for longer
Periods and air-conditioners that ensure fresh air. Says Ravinder Zutshi, vice
president Samsung India , “Nano-technology offers us an opportunity to reinforce our
health platform USP.”

Venture capital funds are also joining the bandwagon. Velbionanotech, for instance,
Is talking to ICICI Venture . Says Alluri Srinivasa, senior vice-president, ICICI
Venture: “We are looking at nanotechnology-based companies very closely. Initially
our strategy would be to invest in lower-end applications like drug-delivery systems
and then go up the learning curve.”

ICICI is also approaching US-based nanotech companies, which might look at
outsourcing part of their research to India , through joint ventures. it hopes to make its
First investment in a nanotech company within two to three months.