AorTech Enters Orthopaedic Ma

RNS Number : 5556Z

Aortech International PLC

17 January 2011

 



For Immediate Release

17 January 2011

AorTech Enters Orthopaedic Market with Polymer Licence and

Manufacturing Deal

AorTech International plc (AIM: AOR) the biomaterials and medical device development company, has reached a non-exclusive licensing agreement with a leading multi-national orthopaedic firm for the first use of its Elast-Eon™ polymers in a next generation orthopaedic implant. The device is in late stage development and uses AorTech's proprietary Reaction Injection Moulding (RIM) technology.  Clinical trials are anticipated to commence sometime in the 3^rd quarter of 2011.

AorTech CEO Frank Maguire stated, "This co-development project is one of several we currently have underway with both large and early stage orthopaedic device firms. These programs encompass a spectrum of device design platforms including lumbar, cervical and thoracic spine, hip, knee and intramedullary nail devices. All of these co-development projects are leveraging both our best-in-class soft biostable polymer materials along with our proprietary small part RIM technology. The outstanding metal to polymer and polymer to polymer bonds we are achieving with the utilization of RIM are providing design options for implantable orthopaedic device teams that were previously not possible."

Typical of other AorTech agreements, this transaction includes licensing fees in the form of up front and milestone payments along with provisions for polymer and manufactured component sales.

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For further information please contact:

AorTech International plc

Frank Maguire, Chief Executive

Tel: + 1 801 201 4336

Evolution Securities
Bobbie Hilliam / Chris Clarke

Tel: [phone]

AorTech International plc

Sarah Price, Investor Relations

Tel: + 1 801 550 4349

e-mail [e-mail]

About AorTech

AorTech develops and manufactures biostable, implantable polymers, including Elast-Eon™ and ECSil™, the world's leading long-term implantable co-polymers.  With more than 3 million implants and over four years of successful clinical use, AorTech polymers are currently used in cardiology, orthopaedic, urological and gastroenterological applications, including pacing leads, cardiac cannulae and stents.  Devices manufactured from AorTech polymers have numerous US FDA PMA approvals, 510k's, CE Marks, Australian TGA and Japanese Ministry of Health approvals.

Elast-Eon™ and ECSil's™ biostability is comparable to silicone while exhibiting excellent mechanical, blood contacting and flex-fatigue properties. Our polymers can be processed using solution casting, ERIM and conventional thermoplastic extrusion and molding techniques. AorTech provides a range of materials in a variety of application-specific formulations for use in medical devices and components.

 

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