Extension to Agreement with RUA Medical

RNS Number : 3800A

AorTech International PLC

21 January 2020

 

AorTech International PLC

("AorTech", the "Company" or the "Group")

Extension to Agreement with RUA Medical

AorTech International PLC (AIM: AOR.L), the licensor of the world's leading long-term implantable biostable polymer (Elast-Eon^TM) and developer of medical devices utilising the key properties of Elast-Eon^TM, is pleased to announce an extension to its agreement with RUA Medical Devices Limited ("RUA Medical").

For over 18 months, AorTech and RUA Medical have been partnering on the development of soft tissue patches and large bore vascular grafts. This project has combined RUA Medical's expertise as an implantable fabric specialist and full service contract device developer and manufacturer with the outstanding biostable and biocompatible properties of Elast-Eon^TM.

As a result, RUA Medical has been provided with, and developed, a substantial amount of know-how relating to the highly flexible manufacturing processes for Elast-Eon^TM, which include extrusion, dip processing (casting and coating), spray coating (including electro spinning and ultrasonic) and moulding (including compression, injection and reaction injection moulding). A number of opportunities have recently been identified where third-party medical device companies are looking for both a polymer and manufacturing solution to address current design problems.

In order to satisfy these market requirements, the Company's agreement with RUA Medical has been extended to allow RUA Medical to offer device design and manufacturing services incorporating both Elast-Eon^TM polymer and processing know-how to third party customers.

Caroline Stretton, Chief Executive Officer of RUA Medical, said: "RUA Medical is delighted how the partnership with AorTech has developed and believes that RUA Medical is becoming  a centre of excellence for the manufacture of Elast-Eon^TM  enabled devices and components.  We look forward to working closely with the AorTech team to further expand the uses and opportunities for Elast-Eon^TM."   

Bill Brown, Chairman of AorTech, said: "I am delighted that AorTech has been able to extend and deepen its partnership with RUA Medical and the opportunities this will present. AorTech will be attending MD&M West next month alongside RUA Medical and I look forward to engaging with the device industry on the outstanding properties of Elast-Eon^TM."

For further information contact:

AorTech International plc                                                                     Tel: [phone]

Bill Brown, Chairman                                                                   

Shore Capital                                                                                        Tel: [phone]

Tom Griffiths/David Coaten                                                         

About AorTech 

AorTech has developed biostable, implantable polymers, including Elast-Eon™ and ECSil™, the world's leading long-term implantable co-polymers, now manufactured on its behalf by Biomerics LLC in Utah, USA. Elast-Eon™ and ECSil™'s biostability is comparable to silicone while exhibiting excellent mechanical, blood contacting and flex-fatigue properties. These polymers can be processed using conventional thermoplastic extrusion and moulding techniques. With over 6 million implants and over 10 years of successful clinical use, AorTech polymers are proven in long term life enabling applications.

In addition to continuing to exploit AorTech's Intellectual Property related to the world class biomaterial - Elast-Eon™, AorTech is now incorporating this material into a number of medical devices of our own design. Elast-Eon™ has first class long term blood contacting properties and, as a result, all of the initial products being developed are for the cardio vascular field. Each device is being designed to have improved clinical outcomes over current device technology, eliminating the use of animal sourced material whilst allowing procedures to remain the same, therefore avoiding having to retrain surgeons in new ways of operating.

About RUA Medical

RUA Medical is an Ayrshire-based innovative and experienced implantable fabric specialist and full service contract medical device developer and manufacturer. RUA Medical is dedicated to providing sub-contract consultancy, design, development, and manufacturing of customised solutions globally to the medical device and biotech industries. RUA Medical is an expert in the development and introduction of processes with valid and demonstrable quality control methodologies, holds BS EN ISO 13485:2016 certification and has FDA registered cleanroom facilities. RUA Medical is working with numerous world leaders in the commercial application of implantable fabrics. www.ruamedical.com 

 

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