Business
Agreement
Agreement.
About this update from Rua Life Sciences Plc
[{"type":"text","content":"\n RNS Number : 9876B Aortech International PLC 26 August 2008 \n \n\n\n\n\n\n\n\n\n\n\n\n\n\nAorTech Signs Agreement to Supply Its Biostable Polyurethane to \nVascular Connector Company \n\nAorTech International plc (AIM: AOR) the biomaterials and medical device development company, today announces an agreement with an emerging arteriovenous (AV) fistula company to use AorTech's proprietary biostable co-polymer Elast-Eon™ in their products. This agreement marks AorTech's entry into the estimated $300 million per year U.S. AV fistula connector arena.\nThe deal includes a nominal upfront payment, $250K in milestone payments, provisions for polymer sales and a single digit royalty.\n'The use of Elast-Eon in vascular connectors is a natural extension of the portfolio of uses in other blood-contacting products. Elast-Eon's best in class biostability, processibility and blood-contacting performance make it an excellent choice for this application,' said Frank Maguire, AorTech Chief Executive Officer.\nAorTech develops and manufactures biostable, implantable polymers, including Elast-Eon, the world's leading long-term implantable copolymer. With hundreds of thousands of successful long-term human implants, Elast-Eon is currently used in cardiology, orthopaedic, urological and gastroenterological applications, including pacing leads, cardiac cannulae and stents. Devices manufactured from Elast-Eon have multiple US FDA PMA approvals, CE Marks and Japanese Ministry of Health approval.\nElast-Eon's biostability is comparable to silicone while exhibiting excellent mechanical, blood contacting and flex-fatigue properties. It can be processed using 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.\n26 August 2008\n\nFor further information please contact:\n\nAorTech International plc\nFrank Maguire, Chief Executive\nTel: + 1 801 201 4336\nEvolution SecuritiesBobbie Hilliam / Chris Clarke\nTel: +44 20 7071 4300\nAorTech International plc\nSarah Price, Investor Relations\nTel: + 1 801 550 4349\ne-mail [email protected]\n\n\n \n\nThis information is provi...