Business
Licence Deal
Licence Deal.
About this update from Rua Life Sciences Plc
[{"type":"text","content":"\n Aortech International PLC\n20 March 2008\n\n 20 March 2008\n\n\n AorTech International plc\n ('AorTech' or the 'Company')\n\n\n Licence signed with InnerPulse\n for cardiac rhythm management device applications\n\n\nAorTech International plc (AIM:AOR), the biomaterials and medical device\ndevelopment company, has signed a non-exclusive licence with InnerPulse, Inc. of\nResearch Triangle Park, NC, to use Aortech's biostable polyurethane material,\nElast-EonTM, in implantable cardiac rhythm management device applications\n(cardiac pacemaker leads excluded).\n\n\nInnerPulse, a privately held developer of a novel platform of pre-clinical stage\nimplantable cardiac defibrillators and cardiac pacemakers, has selected\nElast-Eon as the optimal coating material for the PICDTM, its first generation\nimplantable defibrillator device. In return, InnerPulse will provide AorTech\nwith milestone and volume based payments. Revenues will be modest in the short\nterm, but are expected to increase significantly as the InnerPulse product\nplatform completes testing and is commercialised globally. No further financial\ndetails were disclosed.\n\n\nInnerPulse plans to incorporate the Elast-EonTM material into its products in\n2008. Elast-Eon is currently being assessed by a number of additional companies\nfor a range of other applications including morbid obesity, neurostimulation,\ndiabetes, women's health and cardiovascular diseases.\n\n\nFrank Maguire, CEO of Aortech said:\n\n\n'We are delighted to sign this initial deal with InnerPulse for this cardiac\nrhythm management application. InnerPulse is an innovator in this field that\nwill couple its inventions with the novel characteristics of Elast-Eon to enable\nphysicians to improve their care to patients worldwide.\n\n\n'Elast-Eon's versatility is being demonstrated by the increasingly wide range of\napplications in which it is being qualified. We anticipate further licences\nbeing signed in due course which will create a steadily growing, long term\nrevenue stream for the Company.'\n\n\n -Ends-\n\n\nFor further information please contact:\n\nAorTech International plc Tel: + 1 801 201 4336\nFrank Maguire, Chief Executive\n\nEvolution Securities Tel: +44 20 7071 4300\nBobbie Hilliam\nChris Clarke\n\nHogarth Partnership Limited Tel: +44 20 7357 9477\nMelanie Toyne-Sewell / Sarah Richardson\n\nA...