Success in Animal Trials

RNS Number : 9606Z

Aortech International PLC

28 July 2008

 



For Immediate Release

July 28, 2008

AorTech International plc 

('AorTech' or the 'Company')

Success in Animal Trials with 

Mitral Regurgitation Device by Cardiosolutions 

AorTech International plc (AIM:AOR), the biomaterials and medical device development company, announces success with chronic animal use of its proprietary biostable co-polymer Elast-Eon™ in a new mitral regurgitation device, currently being developed by Cardiosolutions, Inc. ('Cardiosolutions'). These animal trials are in support of the first human use, anticipated in the second half of 2009. Pursuant to the terms of the non-exclusive licence granted to Cardiosolutions in March of 2007, a milestone payment is due to AorTech.

The Cardiosolutions Percu-Pro System consists of a proprietary spacing implant (Mitra-SpacerTM) and a catheter based delivery system that deploys the implant into left ventricle, positioning the spacer to fill the defect in the mitral valve and prevent regurgitation during left ventricular systole.

More than 200,000 new cases of mitral regurgitation are diagnosed annually in the US and the annual market opportunity is projected to be in excess of $600 million by 2010.

Steve Tallarida, President STD Med, Inc. said, 'Cardiosolutions is the fourth start-up company incubated by STD Med, Inc. and we are very excited about the rapid progress that has been made as a result of the hemocompatibility and other desirable properties of the AorTech materials.'

Jon Wilson, COO, Cardiosolutions said, 'Our chronic animal work continues to go well and we are very confident in the long-term results of our Elast-Eon covered Mitra-Spacer.'

In qualification programs with other companies, Elast-Eon is being assessed for a range of additional applications including morbid obesity, neurostimulation, diabetes, women's health and cardiovascular devices.

Frank Maguire, CEO of AorTech said, 'As we have seen superior biostability, blood compatibility and fatigue resistance in the trials of the AorTech polymer heart valve, the results of the work in the Cardiosolutions Percu-Pro System were expected , but nonetheless exciting.  We have worked closely with the Cardiosolutions team in both the design and process development phases of this project and look forward to our continued partnership with Cardiosolutions as the Mitra-Spacer enters the clinical milestone and subsequent, royalty bearing phase of the program.

-Ends-

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]

Notes to Editors:

About AorTech International plc

AorTech is the developer and manufacturer of Elast-Eon the world's leading biostable implantable silicone-urethane copolymer. The company is publicly listed in the UK on the Alternative Investment Market exchange (AIM:AOR) with dedicated sales and market development specialists in the US, and its 25,000 square foot ISO-Certified Technology and Biomaterials Manufacturing Center located in Melbourne, Australia.

For additional information go to: www.aortech.com

About Cardiosolutions, Inc.

Cardiosolutions, Inc., headquartered in Stoughton, Mass., was incubated and founded in 2006 by STD Med, Inc., a Stoughton-based manufacturer and developer of medical technologies.  In addition to Cardiosolutions, other companies that began at STD Med are Angiolink Corporation, Arthrosurface Incorporated, and Spirus Medical, Inc.  

For additional information go to:  www.cardiosolutionsinc.com. 

 

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