A Hyderabad-based start-up, focused on developing oxygen nanobubbles to deliver oxygen intravenously in critical care patients, has been selected by the Government of India’s Inter-Ministerial Board for tax benefits.
“With this approval, we are eligible for a three-year tax holiday up to a turnover of ₹25 crore in a period of 10 years,” said Aodh Lifesciences co-founder and CEO A. Sivamallikarjuna Reddy.
Set up in September 2016, the start-up has filed for product and process patent for the oxygen nanobubbles it has developed. The benefits of administering intravenously, as opposed to the conventional nasal route, were sufficient infusion of oxygen and improving the level of ease for the patients.
The idea of delivering oxygen intravenously has gained attention in recent years, but delivering adequate quantity at a stable rate without affecting patient health has been the challenge. An air bubble in a vein, also known as a venous air embolism, can cause a heart attack or stroke and can be fatal.
Biggest challenge
Mr. Reddy said that this had been the biggest challenge. Aodh’s proprietary work was in developing a material that could encapsulate oxygen bubbles, measuring less than one-thousandth the thickness of a human hair.
In studies on rabbits, researchers found they were able to achieve complete saturation of blood with oxygen. “It is a first-of-its-kind proprietary product with immense potential in stroke and hypoxia treatment. The product is in the pre-clinical stage,” according to Mr. Reddy. It would have a significant impact on cancer medicine, critical care, neuro-degeneration and organ transplantation.
Besides delivering oxygen to air-starved patients, Aodh is looking at possible applications in oxygen therapy for treating many conditions, including cancer. Mr. Reddy said that they wanted to take their product to the market through vendors who made targeted therapies.
Under the Start-up India programme, as many as 2,401 start-ups have been recognised, of which 30 have got tax-exemption.