First human use of ElastEon
August 07 2006 - 3:03AM
RNS Non-Regulatory
Aortech International PLC
07 August 2006
7 August 2006
AorTech International plc
("AorTech" or "the Company")
First Human Use of Elast-Eon(TM) Polymer
London - AorTech International plc (AIM: AOR), the medical device development
and biomaterials intellectual property and licensing company, announces the
first FDA approved human use of its polymer technology Elast-Eon pursuant to
its exclusive license agreement with St. Jude Medical (STJ: NYSE) which was
announced on March 20 2006.
Frank Maguire, AorTech CEO said:
"This event represents another significant step forward in the development of
the company and the validation of the Elast-Eon technology. In addition to the
direct benefit of revenues from Elast-Eon sales, the commencement of the human
use phase will provide valuable credibility for Elast-Eon as we expand its use
into other medical markets".
The global market for cardiac pacing and ICD products is in excess of #5.5
billion and grew approximately 8% in 2005.
In addition, the company expects clinical use of its Elast-Eon material to
occur in orthopaedic and urology markets under separate licenses over the next
year.
-Ends-
Enquiries:
AorTech International plc Tel: 801 581 0854
Frank Maguire, Chief Executive Officer
Hogarth PR Tel: 020 7357 9477
Melanie Toyne-Sewell / Andrew Jaques/
Sarah Richardson
This information is provided by RNS
The company news service from the London Stock Exchange
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