Business
AorTech Announces Breast Implant Agreement
AorTech Announces Breast Implant Agreement.
About this update from Rua Life Sciences Plc
[{"type":"text","content":"\n \nRNS Number : 8451N Aortech International PLC 08 September 2011 \n \n\n\n\n\n\nFor Immediate Release\n\n\n8 September 2011\n\n\n\n\n \n \nAorTech Announces an Update on its Factory Move and a Breast Implant Product Development Agreement with Establishment Labs\n \nAorTech International, plc (www.aortech.com), through its U.S.A. subsidiary AorTech Polymers & Medical Devices today announces that construction and fit out of the company's new 1,300 square meter Manufacturing and Technology Centre in Rogers, is complete and operating permits for the facility are expected to issue on 9 September 2011. \n \nThe first batch of production polymers will be initiated in October per our original timetable. All move related activities are coming in at their budget estimates.\n \nThe company also is announcing the signing of a co-development and manufacturing agreement with Establishment Labs (www.establishmentlabs.com), a breast aesthetic specialty company based in Costa Rica.\n \nThe deal is structured to provide Establishment Labs with an exclusive licence to AorTech's unique breast implant device and polymer patent portfolio. Establishment Labs will incorporate various facets of AorTech's device and materials technology into its future generation breast aesthetic products. \n \nThe AorTech intellectual property consists of issued and pending patents that include a high durability device incorporating an Elast-Eon™ shell, an Elast-Eon™ fill gel-type material, a low density silicone material and a platinum-free gel, all next-generation components that have potential to elevate breast implant performance. The agreement also provides Establishment Labs with access to AorTech's Elast-Eon™ and ECSil™ polymer families for general use in their advanced breast implant products (www.motivaimplants.com). Geographic market specific planning for the application of these technologies is currently under strategic development.\n \nEstablishment Labs has agreed to provisions for up-front and milestone related licensing fees and royalties to AorTech for product sales and material supply.\n \nAorTech CEO Frank Maguire said, \"Our collaboration with Establishment Labs and their team of engineers over the past year has been productive and encouraging. Together, the organiz...