21st Jan 2020 12:39
(Alliance News) - AorTech International PLC on Tuesday said it has extended its agreement with RUA Medical Devices Ltd, related to the development of soft tissue patches and large bore vascular grafts.
The medical devices developer said the project - which now lasts for over 18 months - combines RUA Medical's expertise as an implantable fabric specialist and biocompatible properties of AorTech's Elast-Eon, an implantable biostable polymer.
AorTech said 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.
"I am delighted that AorTech has been able to extend and deepen its partnership with RUA Medical and the opportunities this will present," said AorTech Chair Bill Brown.
"We look forward to working closely with the AorTech team to further expand the uses and opportunities for Elast-Eon," added RUA Medical Chief Executive Caroline Stretton.
AorTech shares were trading 2.4% higher in London on Tuesday at 97.25 pence each.
By Evelina Grecenko; [email protected]
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