Market Opportunity
Over 500,000 new cases of CHF are diagnosed each year. In aggregate, the American Heart Association estimates that about five million patients in the United States and over fifteen million patients worldwide are suffering with the often debilitating symptoms of CHF. It's the single most frequent cause of hospitalization for people 65 and older, resulting in significant medical costs.
The CHF market is in excess of $14 billion. There is no cure for CHF short of a heart transplant. Although advances in pharmacology have led to better treatment, 50% of patients with the most advanced stage of heart failure die within a year. A majority of patients are treated with drug therapy, but for patients with advanced CHF, device-based therapy or transplantation are the only alternatives. Heart transplants are a limited option for most patients (only 2300 such transplants are performed annually) and device-based therapies carry high safety risks (e.g. thrombosis, stroke, myocardial infarction and sepsis).
NanoCor's target market is approximately 15 million patients with symptomatic CHF in the US and in other industrialized nations (including approximately 3 million with severe late stage disease annually). Based on competitve price assumptions and modest market penetration, NanoCor belives that Carfostin™, the Company's lead therapeutic, has the long-term potential to generate worldwide annual revenues ranging from $500 million to $1.5 billion within 5 years of launch.