6th Jan 2020 12:06
(Alliance News) - AorTech International PLC on Monday said it is now targeting "consistency and quality" of its new heart valve manufacturing technology after its performance was improved through the design phase.
At the end of November, the AIM-listed medical devices and polymer developer said it was continuing to make "good" progress on both valve design and design for manufacture. The latter was initiated to eliminate both the design limitations and potential for defects of dip casting.
On Monday, AorTech said it now believes that these limitations can be overcome by an alternative novel manufacturing process, which can also lead to the creation of "valuable" new intellectual property for the company.
AorTech did not disclose any further details about the novel method of manufacture, but said it has now committed to the design and manufacture of the bespoke equipment upon which proof of concept prototype valves will be produced.
The company noted that the costs to be incurred are being partly financed through it having secured grant aid from Scottish Enterprise.
"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," said AorTech Chair Bill Brown.
He added: "Through the design phase, our team has significantly improved valve performance and we are now targeting step changes in consistency and quality."
AorTech shares were trading 12% lower in London on Monday at 88.50 pence each.
By Evelina Grecenko; [email protected]
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