27th Nov 2019 16:09
(Alliance News) - AorTech International PLC said Wednesday it signed a new Elast-Eon license deal with a medical devices components maker.
Shares in Dundee-based AorTech were 10% higher at 88.05 pence in London late on Wednesday.
AorTech is a licensor for the implantable biostable polymer, Elast-Eon.
The AIM-listed firm has entered into an intellectual property licence agreement with Israeli firm Medibrane Ltd. This agreement will allow Medibrane to use Elast-Eon for encapsulation of medical devices.
"The AorTech team has been very impressed with Medibrane's technical capabilities and look forward to a long and successful partnership with them," AorTech Chair Bill Brown said. "We are delighted to be working with a commercially focused business such as Medibrane to help promote a greater number of Elast-Eon enabled medical devices."
The licence deal allows Medibrane to incorporate Elast-Eon into medical devices currently at the design stage. It also allows Medibrane to sub-licence Elast-Eon to its customers.
"We have already trialled the Elast-Eon material for some applications and found it to have a number of benefits over other polymers with regard to manufacturing process stability as well as cohesiveness," AorTech Chief Executive Officer Elad Einav said. "This coupled with the world class biocompatible and biostable properties of Elast-EonTM should allow us to help grow the number of uses for Elast-Eon in medical devices."
By Ahren Lester; [email protected]
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