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Allium Partnership
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About this update from Rua Life Sciences Plc
[{"type":"text","content":"\n Aortech International PLC\n29 November 2007\n\n\n\n 30 November 2007\n \n\n\n AorTech International plc\n\n ('AorTech' or the 'Company')\n\n\n First Human Use of Elast-EonTM Polymer in Gastroenterological Implants\n\n\nAorTech International plc (AIM:AOR), the biomaterials and medical device\ndevelopment company, announces the first human use of its proprietary polymer\ntechnology Elast-EonTM in gastroenterological implants, with its partner Allium\nMedical Inc. ('Allium') of Israel.\n\n\nThe biliary stent product, which incorporates Allium's novel design which\noptimises anatomical fit and the highly biostable Elast-Eon polymer, entered its\nclinical use in Germany earlier this week.\n\n\nThis is the first royalty bearing application of Elast-Eon. AorTech's license\nwith Allium-Medical contains provisions for milestone payments for first\n commercial sale of various stent products and for FDA approval of these\nproducts.\n\n\nThe market for bulbar, prosthetic and ureteral stents is estimated to be $1\nbillion and is growing at 9% per year. AorTech believes that the highly\nefficient and biocompatible nature of this design will prove to be very\ncompetitive.\n\n\nIn addition, Allium and AorTech today announce the recent receipt of a grant\nfrom the joint Australian Victoria/Israeli technology fund for the development\nof a vascular and non-vascular stent based drug delivery platform. The grant was\nmade on the basis of matching funds from the commercial partner and is of\nsufficient size to fund the development program through to the pre-clinical\nphase. Allium and AorTech will own equal parts of any technology that emerges\nfrom this collaboration.\n\n\nFor further information please contact:\n\nAorTech International plc\nFrank Maguire, Chief Executive Tel: + 1 801 201 4336\n\nHogarth Partnership Limited Tel: +44 20 7357 9477\nMelanie Toyne-Sewell / Sarah Richardson\n\n\nNotes to editors:\n\n\nAbout AorTech International plc\n\n\nListed on AIM in London, AorTech International plc wholly owns AorTech\nBiomaterials based in Melbourne, Australia. AorTech Biomaterials was formed in\nJuly 1997 to commercialise a range of medical grade polyurethanes for medical\nimplants developed by the Commonwealth Scientific and Industrial Research\nOrganisation (CSIRO).\n\n\nAorTech's Elast-EonTM technology is the product of a decade of fundame...