4 Aug 2008 07:00
| For Immediate Release | August 4, 2008 |
AorTech Issued Patent for Polymer Heart Valve in Europe
AorTech International plc (AIM: AOR) the biomaterials and medical device development company, today announces the issue of the European Patent for its Polymer Heart Valve ("PHV"). The addition of this patent expands AorTech's Heart Valve portfolio to include manifestations for percutaneous (catheter delivered), a minimally invasive surgical valve and a conventional open-heart surgically implanted device.
Studied in-vitro and in-vivo since 2002, the AorTech Polymer Heart Valve has shown to have excellent durability and hydrodynamic characteristics comparable to the market leading tissue valves. In these studies, it has consistently demonstrated a remarkable freedom from calcification or thrombus formation. Additionally, the PHV exhibits significant manufacturing cost advantages v. conventional valves positioning it well for emerging economies in addition to Western Europe, the United States and Japan.
"The issuing of this patent further strengthens our position in the polymer heart valve field. This technology, in combination with our existing Elast-Eon™ polymer portfolio, creates significant value for the Company and its shareholders," said Frank Maguire, AorTech CEO."
The worldwide market for surgical heart valve products is approximately $1.2 billion, growing at a rate of 8% per year.
AorTech develops and manufactures biostable, implantable polymers, including Elast-Eon, the world's leading long-term implantable copolymer. With hundreds of thousands of successful long-term human implants, Elast-Eon is currently used in cardiology, orthopaedic, urological and gastroenterological applications, including pacing leads, cardiac cannulae and stents. Devices manufactured from Elast-Eon have multiple US FDA PMA approvals, CE Marks and Japanese Ministry of Health approval.
Elast-Eon's biostability is comparable to silicone while exhibiting excellent mechanical, blood contacting and flex-fatigue properties. It can be processed using conventional thermoplastic extrusion and moulding techniques. The firm's 20,000 sq/ft. ISO-certified facility provides a range of materials in a variety of application-specific formulations for use in medical devices and components.
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For further information please contact:
AorTech International plc
Frank Maguire, Chief Executive
Tel: + 1 801 201 4336
Evolution SecuritiesBobbie Hilliam
Tel: +44 20 7071 4300
Chris Clarke
Tel: +44 20 7071 4300
AorTech International plc
Sarah Price, Investor Relations
Tel: + 1 801 550 4349
e-mail sprice@aortech.com