Aortech International PLC
29 November 2007
30 November 2007
AorTech International plc
('AorTech' or the 'Company')
First Human Use of Elast-EonTM Polymer in Gastroenterological Implants
AorTech International plc (AIM:AOR), the biomaterials and medical device
development company, announces the first human use of its proprietary polymer
technology Elast-EonTM in gastroenterological implants, with its partner Allium
Medical Inc. ('Allium') of Israel.
The biliary stent product, which incorporates Allium's novel design which
optimises anatomical fit and the highly biostable Elast-Eon polymer, entered its
clinical use in Germany earlier this week.
This is the first royalty bearing application of Elast-Eon. AorTech's license
with Allium-Medical contains provisions for milestone payments for first
commercial sale of various stent products and for FDA approval of these
products.
The market for bulbar, prosthetic and ureteral stents is estimated to be $1
billion and is growing at 9% per year. AorTech believes that the highly
efficient and biocompatible nature of this design will prove to be very
competitive.
In addition, Allium and AorTech today announce the recent receipt of a grant
from the joint Australian Victoria/Israeli technology fund for the development
of a vascular and non-vascular stent based drug delivery platform. The grant was
made on the basis of matching funds from the commercial partner and is of
sufficient size to fund the development program through to the pre-clinical
phase. Allium and AorTech will own equal parts of any technology that emerges
from this collaboration.
For further information please contact:
AorTech International plc
Frank Maguire, Chief Executive Tel: + 1 801 201 4336
Hogarth Partnership Limited Tel: +44 20 7357 9477
Melanie Toyne-Sewell / Sarah Richardson
Notes to editors:
About AorTech International plc
Listed on AIM in London, AorTech International plc wholly owns AorTech
Biomaterials based in Melbourne, Australia. AorTech Biomaterials was formed in
July 1997 to commercialise a range of medical grade polyurethanes for medical
implants developed by the Commonwealth Scientific and Industrial Research
Organisation (CSIRO).
AorTech's Elast-EonTM technology is the product of a decade of fundamental
research into biologically stable materials. ElastEonTM materials are patented,
high silicone content, polyurethane copolymers which exhibit unparalleled
biological and mechanical performance.
AorTech is firmly focused on the development and refinement of this material for
the medical community, with the aim of providing a wide range of high
performance Elast-EonTM materials in a variety of application specific
formulations and densities, for use in medical devices.
Visit AorTech's website at: www.aortech.com
About Allium Medical, Inc.
Founded in 2001, Allium Inc. is a privately owned company founded by Professor
Daniel Yachia, an acknowledged urologist and international authority on Urinary
System Stenting. The company is incorporated in Delaware and fully owns its R&D
subsidiary in Israel: Allium LTD.
Visit Allium Medical's website at: www.allium-medical.com
This information is provided by RNS
The company news service from the London Stock Exchange
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