23 Jul 2008 07:00
| For Immediate Release | July 23, 2008 |
AorTech International plc
("AorTech" or the "Company")
1st Human Use of Cardiac Cannulae Products by Avalon Laboratories, LLC.
AorTech International plc (AIM:AOR), the biomaterials and medical device development company, announces success with early stage clinical use of its proprietary biostable co-polymer Elast-Eon™ in pulmonary support cannulae, designed and manufactured by Avalon Laboratories, LLC. ("Avalon"). The first human use of these products has occurred in the UK. Preparations are being made for US launch subsequent to US FDA approval. This first clinical use follows the exclusive licence granted to Avalon for the use of Elast-Eon™ in cardiac and pulmonary cannulae products in December 2006.
The first of several anticipated Avalon applications of Elast-Eon materials is with the Avalon Elite Cannulae. These devices are intended to help provide life saving lung support for patients suffering from acute lung failure. These cannulae drain oxygen-depleted blood and infuse oxygen rich blood directly into the patient's heart. Since lungs receive blood that has already been oxygenated, they are allowed to rest. Resting the lungs has been shown to be extremely beneficial for recovery from acute lung failure.
Avalon plans to incorporate the Elast-Eon material into other new and existing products in the future.
Privately held Avalon is the world's leading supplier of cardiopulmonary vascular cannulae, which are critical disposable components that connect patients to heart and lung machines and other circulatory support devices. Avalon manufactures more than three-quarters of all cannulae used globally and, in 2007, produced more than 1.8 million cannulae on a contract basis to the world's leading healthcare suppliers.
In qualification programs with other companies, Elast-Eon is being assessed for a range of additional applications including morbid obesity, neurostimulation, diabetes, women's health and cardiovascular devices.
Frank Maguire, CEO of AorTech said:
"Over the past year we have worked closely with Avalon Lab's process development team to optimize the Elast-Eon SG (solution grade) formula for their application and manufacturing process. We are very pleased to have Avalon as a partner in this program and look forward to working with them on other applications of Elast-Eon to cannulae products.
"Elast-Eon's versatility is being demonstrated by the increasingly wide range of applications in which it is being qualified. We anticipate further licences being signed in due course, which will create a steadily growing, long term revenue stream for the Company."
-Ends-
For further information please contact:
AorTech International plc
Frank Maguire, Chief Executive
Tel: + 1 801 201 4336
Evolution SecuritiesBobbie Hilliam / Chris Clarke
Tel: +44 20 7071 4300
AorTech International plc
Sarah Price, Investor Relations
Tel: + 1 801 550 4349
e-mail sprice@aortech.com
Notes to Editors:
About AorTech International plc
AorTech is the developer and manufacturer of Elast-Eon the world's leading biostable implantable silicone-urethane copolymer. The company is publicly listed in the UK on the Alternative Investment Market exchange (AIM:AOR) with dedicated sales and market development specialists in the US, and its 25,000 square foot ISO-Certified Technology and Biomaterials Manufacturing Center located in Melbourne, Australia.
For additional information go to: www.aortech.com
About Avalon Laboratories LLC
Founded in 1990, Avalon Laboratories has been creating medical product solutions for over 16 years. Its dedicated and knowledgeable team combines technical excellence with a passion for innovation and quality. With facilities in Los Angeles, Grand Rapids, MI and Guaymas, Mexico, Avalon is the leading manufacturer of cardiopulmonary vascular cannulae in the world.
For additional information go to: www.avalonlaboratories.com