Aortech International PLC
24 January 2006
For Immediate Release 24 January 2006
AorTech International plc
('AorTech' or 'the Company')
AorTech Awarded Australian Government Grant Funding
AorTech International has been awarded grant funding from various Australian
Government Agencies to support its investment in R&D activities and
infrastructure. The anticipated total grant for the first half of 2006 is
approximately $1 million AUD (approx. £422,000). It is AorTech's intention to
move the headquarters of its Australian Operations to an expanded facility in
Melbourne.
This funding support has been obtained from these government grant schemes which
have been established to support the investment in R&D, infrastructure and
growth of high-tech businesses in Australia. The company expects the bulk of the
remaining funds will be received later this quarter with the balance expected in
Q2, subject to AorTech's completion of milestones for funding.
The biotech industry is a vibrant and growing sector of the Australian economy,
underpinned by world-leading research and clinical facilities, and strong
government commitment. This environment is well aligned with the next phases of
expansion of AorTech's business.
For further information please contact:
AorTech International plc
Frank Maguire, Chief Executive 00 1 801 201 4336
Buchanan Communications 020 7466 5000
Ben Willey, Rebecca Skye Dietrich
Visit AorTech's website at: www.aortech.com
This information is provided by RNS
The company news service from the London Stock Exchange