Business
AorTech Enters Orthopaedic Ma
AorTech Enters Orthopaedic Ma.
About this update from Rua Life Sciences Plc
[{"type":"text","content":"\n RNS Number : 5556Z Aortech International PLC 17 January 2011 \n \n\n\n\n\n\nFor Immediate Release\n\n\n17 January 2011\n\n\n\n\n \n \nAorTech Enters Orthopaedic Market with Polymer Licence and \nManufacturing Deal \n \nAorTech International plc (AIM: AOR) the biomaterials and medical device development company, has reached a non-exclusive licensing agreement with a leading multi-national orthopaedic firm for the first use of its Elast-Eon™ polymers in a next generation orthopaedic implant. The device is in late stage development and uses AorTech's proprietary Reaction Injection Moulding (RIM) technology. Clinical trials are anticipated to commence sometime in the 3rd quarter of 2011. \n \nAorTech CEO Frank Maguire stated, \"This co-development project is one of several we currently have underway with both large and early stage orthopaedic device firms. These programs encompass a spectrum of device design platforms including lumbar, cervical and thoracic spine, hip, knee and intramedullary nail devices. All of these co-development projects are leveraging both our best-in-class soft biostable polymer materials along with our proprietary small part RIM technology. The outstanding metal to polymer and polymer to polymer bonds we are achieving with the utilization of RIM are providing design options for implantable orthopaedic device teams that were previously not possible.\"\n \nTypical of other AorTech agreements, this transaction includes licensing fees in the form of up front and milestone payments along with provisions for polymer and manufactured component sales.\n \n \n \n-Ends-\n \n \nFor further information please contact:\n \nAorTech International plc\nFrank Maguire, Chief Executive\nTel: + 1 801 201 4336\n \nEvolution SecuritiesBobbie Hilliam / Chris Clarke\nTel: +44 20 7071 4300\n \nAorTech International plc\nSarah Price, Investor Relations\nTel: + 1 801 550 4349\ne-mail [email protected]\n\n\nAbout AorTech\n \nAorTech develops and manufactures biostable, implantable polymers, including Elast-Eon™ and ECSil™, the world's leading long-term implantable co-polymers. With more than 3 million implants and over four years of successful clinical use, AorTech polymers are currently used in cardiology, orthopaedic, urological and gastroente...