Business
Supply and License Agreement
Supply and License Agreement.
About this update from Rua Life Sciences Plc
[{"type":"text","content":"\n Aortech International PLC\n20 March 2006\n\n\nFor Immediate Release 20 March 2006\n\n\n AorTech International plc\n\n ('Aortech' or the 'Company')\n\n\n Exclusive Supply and License Agreement with St Jude Medical\n\n\nAorTech International plc (AIM:AOR), the biomaterials intellectual property and\nlicensing company, today announces that it has signed an exclusive licence and\nsupply agreement with St. Jude Medical (NYSE: STJ) for the use of AorTech's\nElast-EonTM bio-material in the field of cardiac rhythm management leads.\n\n\nThe terms of the agreement include an initial upfront payment of $2 million to\nAorTech, and optional payments of scheduled licence maintenance fees are payable\nover the next two years.\n\n\nThe agreement relates to material supply and the grant of exclusive rights to\nAorTech's proprietary technology Elast-EonTM in the fields of implantable\ncardiac rhythm management leads and implantable neuromodulation devices. No\nadditional terms of this agreement were disclosed.\n\n\nFrank Maguire, AorTech CEO, commented:\n\n'The completion of this agreement with one of the world's leading medical device\ncompanies represents the culmination of several years of collaborative work with\nSt. Jude Medical on ensuring the reliability and superior performance of\nElast-EonTM through a stringent regime of rigorous testing. In addition with\nthis agreement our new manufacturing facility will commence operations at\ncommercial scale.\n\n\n'I remain confident that our Elast-EonTM bio-material represents a new material\ntechnology platform for a wide range of implantable devices and the conclusion\nof our agreement with St. Jude Medical represents the first significant step in\nthat process.'\n\n\nFor further information please contact:\nAorTech International plc\nFrank Maguire, Chief Executive Tel: + 1 801 201 4336\n\nBuchanan Communications Tel: + 44 20 7466 5000\nBen Willey / Rebecca Skye Dietrich\n\n\nAbout AorTech\n\nAorTech International plc, is an AIM (Alternative Investment Market), London\nlisted company which wholly owns AorTech Biomaterials based in Melbourne,\nAustralia.\n\n\nAorTech Biomaterials was formed in July 1997 to commercialise a range of medical\ngrade polyurethanes for medical implants developed by the Commonwealth\nScientific and Industrial Research Organisation (CSIRO).\n\n\nVisit AorTech's websi...