AorTech International PLC Heart Valve Development Update (7517Y)
06 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMAOR
RNS Number : 7517Y
AorTech International PLC
06 January 2020
AorTech International PLC
("AorTech", the "Company" or the "Group")
Heart Valve Development Update
AorTech International plc (AIM: AOR.L), the licensor of the
world's leading long-term implantable biostable polymer
(Elast-Eon(TM) ) and developer of medical devices utilising the key
properties of Elast-Eon(TM) , is pleased to update on the progress
of the design for manufacture process for its polymeric heart
valve.
In its interim results announced on 29 November 2019, the
Company stated that it was continuing to make good progress on both
valve design and design for manufacture and that feedback from the
process was currently driving further improvements. AorTech has
generated a substantial amount of heart valve related intellectual
property, including the relationship between defects in polymeric
leaflets as a result of manufacturing limitations and valve
durability.
The design for manufacture project has been driven by a desire
to eliminate both the design limitations and potential for defects
of dip casting. The Company now believes that these limitations can
be overcome by an alternative novel manufacturing process. Dip
casting of valves can be successful, but is very difficult to both
validate and achieve product consistency, thus placing a
significant reliance on the quality control inspection procedures
being able to identify any deficiencies in the heart valve
leaflets.
Much of the novel method of manufacture identified may lead to
the creation of valuable new intellectual property for the Company.
As a result, the Company is unable to disclose any further details
regarding the method of manufacture, but is very pleased to
announce that it has now committed to the design and manufacture of
the bespoke equipment upon which proof of concept prototype valves
will be produced. The specialist equipment has also been designed
to allow valve production to be industrialised going forward.
The objective of the project is to confirm the capabilities of
the novel manufacturing technology that the Company is seeking to
implement, which will then be followed by process optimisation,
design freeze and a full set of ISO compliant testing
programmes.
This is a significant commitment from AorTech as part of its
ongoing Research and Development plans. AorTech is delighted to
report that the costs to be incurred are being partly financed
through it having secured grant aid from Scottish Enterprise.
Bill Brown, Chairman of AorTech, said: "This investment
demonstrates the growing confidence in both the design of, and the
novel manufacturing process for, the polymeric heart valve and we
wish to thank Scottish Enterprise for their help and assistance
towards this project. Through the design phase, our team has
significantly improved valve performance and we are now targeting
step changes in consistency and quality."
For further information contact:
AorTech International plc Tel: +44 (0)7730 718296
Bill Brown, Chairman
Shore Capital Tel: +44 (0)20 7408 4080
Tom Griffiths/David Coaten
About AorTech:
AorTech has developed biostable, implantable polymers, including
Elast-Eon(TM) and ECSil(TM), the world's leading long-term
implantable co-polymers, now manufactured on its behalf by
Biomerics LLC in Utah, USA. Elast-Eon(TM) and ECSil(TM)'s
biostability is comparable to silicone while exhibiting excellent
mechanical, blood contacting and flex-fatigue properties. These
polymers can be processed using conventional thermoplastic
extrusion and moulding techniques. With over 6 million implants and
over 10 years of successful clinical use, AorTech polymers are
proven in long term life enabling applications.
In addition to continuing to exploit AorTech's Intellectual
Property related to the world class biomaterial - Elast-Eon(TM),
AorTech is now incorporating this material into a number of medical
devices of our own design. Elast-Eon(TM) has first class long term
blood contacting properties and, as a result, all of the initial
products being developed are for the cardio vascular field. Each
device is being designed to have improved clinical outcomes over
current device technology, eliminating the use of animal sourced
material whilst allowing procedures to remain the same, therefore
avoiding having to retrain surgeons in new ways of operating.
This information is provided by RNS, the news service of the
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END
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