New Licence Agreement

RNS Number : 8774U

AorTech International PLC

27 November 2019

 

AorTech International plc

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

New Licence Agreement

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 enabled by  Elast-Eon^TM, is pleased to announce that it has entered into an IP licence agreement with Medibrane Limited ("Medibrane") allowing the use of Elast-Eon^TM for encapsulation of medical devices. 

Medibrane is a leading Israeli designer, developer, and manufacturer of customised biomaterial polymeric coverings and coatings of scaffolds-based applications intended for neurology, cardiovascular, structural heart and urology, as well as for gastroenterology, biliary and respiratory devices.

The licence agreement anticipates Medibrane incorporating Elast-Eon^TM into medical devices at the design stage and allows Medibrane to further sub-license Elast-Eon^TM to its customers.

Elad Einav, CEO of Medibrane, said: "We have already trialled the Elast-Eon^TM material for some applications and found it to have a number of benefits over other polymers with regard to manufacturing process stability as well as cohesiveness. This coupled with the world class biocompatible and biostable properties of Elast-Eon^TM should allow us to help grow the number of uses for Elast-Eon^TM in medical devices."

Bill Brown, Chairman of AorTech, said: "The AorTech team has been very impressed with Medibrane's technical capabilities and look forward to a long and successful partnership with them. We are delighted to be working with a commercially focused business such as Medibrane to help promote a greater number of Elast-Eon^TM enabled medical devices."

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' 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 its 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.

 

END

 

 

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