24th Jan 2006 08:54
Aortech International PLC24 January 2006 For Immediate Release 24 January 2006 AorTech International plc ("AorTech" or "the Company") AorTech Awarded Australian Government Grant Funding AorTech International has been awarded grant funding from various AustralianGovernment Agencies to support its investment in R&D activities andinfrastructure. The anticipated total grant for the first half of 2006 isapproximately $1 million AUD (approx. £422,000). It is AorTech's intention tomove the headquarters of its Australian Operations to an expanded facility inMelbourne. This funding support has been obtained from these government grant schemes whichhave been established to support the investment in R&D, infrastructure andgrowth of high-tech businesses in Australia. The company expects the bulk of theremaining funds will be received later this quarter with the balance expected inQ2, subject to AorTech's completion of milestones for funding. The biotech industry is a vibrant and growing sector of the Australian economy,underpinned by world-leading research and clinical facilities, and stronggovernment commitment. This environment is well aligned with the next phases ofexpansion of AorTech's business. For further information please contact: AorTech International plcFrank Maguire, Chief Executive 00 1 801 201 4336 Buchanan Communications 020 7466 5000Ben Willey, Rebecca Skye Dietrich Visit AorTech's website at: www.aortech.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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