AorTech International PLC Extension to Agreement with RUA Medical (3800A)
21 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMAOR
RNS Number : 3800A
AorTech International PLC
21 January 2020
AorTech International PLC
("AorTech", the "Company" or the "Group")
Extension to Agreement with RUA Medical
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 announce an extension
to its agreement with RUA Medical Devices Limited ("RUA
Medical").
For over 18 months, AorTech and RUA Medical have been partnering
on the development of soft tissue patches and large bore vascular
grafts. This project has combined RUA Medical's expertise as an
implantable fabric specialist and full service contract device
developer and manufacturer with the outstanding biostable and
biocompatible properties of Elast-Eon(TM) .
As a result, RUA Medical has been provided with, and developed,
a substantial amount of know-how relating to the highly flexible
manufacturing processes for Elast-Eon(TM) , which include
extrusion, dip processing (casting and coating), spray coating
(including electro spinning and ultrasonic) and moulding (including
compression, injection and reaction injection moulding). A number
of opportunities have recently been identified where third-party
medical device companies are looking for both a polymer and
manufacturing solution to address current design problems.
In order to satisfy these market requirements, the Company's
agreement with RUA Medical has been extended to allow RUA Medical
to offer device design and manufacturing services incorporating
both Elast-Eon(TM) polymer and processing know-how to third party
customers.
Caroline Stretton, Chief Executive Officer of RUA Medical, said:
"RUA Medical is delighted how the partnership with AorTech has
developed and believes that RUA Medical is becoming a centre of
excellence for the manufacture of Elast-Eon(TM) enabled devices and
components. We look forward to working closely with the AorTech
team to further expand the uses and opportunities for Elast-Eon(TM)
."
Bill Brown, Chairman of AorTech, said: "I am delighted that
AorTech has been able to extend and deepen its partnership with RUA
Medical and the opportunities this will present. AorTech will be
attending MD&M West next month alongside RUA Medical and I look
forward to engaging with the device industry on the outstanding
properties of Elast-Eon(TM) ."
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.
About RUA Medical
RUA Medical is an Ayrshire-based innovative and experienced
implantable fabric specialist and full service contract medical
device developer and manufacturer. RUA Medical is dedicated to
providing sub-contract consultancy, design, development, and
manufacturing of customised solutions globally to the medical
device and biotech industries. RUA Medical is an expert in the
development and introduction of processes with valid and
demonstrable quality control methodologies, holds BS EN ISO
13485:2016 certification and has FDA registered cleanroom
facilities. RUA Medical is working with numerous world leaders in
the commercial application of implantable fabrics.
www.ruamedical.com
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END
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