5th Dec 2006 12:31
Aortech International PLC05 December 2006 5 December 2006 AorTech International plc AorTech International plc announces exclusive material supply agreement with Avalon Laboratories London, UK - AorTech International plc (AIM: AOR), the medical devicedevelopment and biomaterials intellectual property and licensing company, todayannounces the signing of an exclusive material licensing and supply agreementwith Avalon Laboratories of Rancho Dominguez, CA. Avalon Laboratories is the leading supplier of cardiopulmonary vascular cannulaein the world manufacturing more than three-quarters of all wire reinforcedvenous and arterial cannulae used globally. The license agreement is exclusivein the field of cardiopulmonary vascular support cannulae including thosecannulae used with ventricular assist and extracorporeal heart/lung supportdevices. The license contains provisions for minimum annual purchases of bulk Elast-EonTMpolymer. Terms were not disclosed. Frank Maguire, AorTech CEO said, "The relationship with Avalon Laboratories isan excellent fit for AorTech. Our newly opened manufacturing center was designedspecifically with this type of bulk polymer business in mind. Avalon'slongstanding position as market leader in its segment makes is an ideal customerat this stage of AorTech's development. In addition Avalon's regulatory path islikely to be shorter than most and its volumes are likely to constitute asignificant component of revenues for the coming years with Avalon's demanddriven primarily by the need for one class of Elast-Eon polymer." Robert Foster, CEO of Avalon Laboratories commented, "The Elast-Eon material hassome remarkable properties and it has found important applications in severalimplantable products. We have been extremely impressed with this innovativematerial and believe it will provide a tremendous benefit to the new products weare developing. The first catheters and cannulae using Elast-Eon will be forinnovative support devices to be introduced in 2007. -Ends-Enquiries: AorTech International plc Tel: + 801 581 0854Frank Maguire, Chief Executive Officer Hogarth PR Tel: +44 (0)20 7357 9477Andrew Jaques/Sarah Richardson Avalon Laboratories Tel: + 310 761 8660Robert Foster, Chief Executive Officer About AorTech International plc Listed on AIM in London, AorTech International plc wholly owns AorTechBiomaterials Pty Ltd based in Melbourne, Australia. AorTech Biomaterials wasformed in July 1997 to commercialise a range of medical grade polyurethanes formedical implants developed by the Commonwealth Scientific and IndustrialResearch Organisation (CSIRO). AorTech's Elast-EonTM technology is the product of a decade of fundamentalresearch into biologically stable materials. Elast-EonTM materials are patented,high silicone content, polyurethane copolymers which exhibit unparalleledbiological and mechanical performance. AorTech is firmly focused on the development and refinement of this material forthe medical community, with the aim of providing a wide range of highperformance Elast-EonTM materials in a variety of application specificformulations and densities, for use in medical devices. For more information please visit www.aortech.com About Avalon Laboratories Avalon Laboratories' cardiopulmonary vascular cannulae are critical disposablecomponents that connect patients to heart/lung machines and other supportdevices. Avalon combines science, technology, and innovation to provide thehighest quality cannulae to help medical professionals deliver superior healthcare and save lives. For more information please visit www.avalonlabs.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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