AOR.L Regulatory News (AOR)

13 May 2005 07:00

Aortech International PLC13 May 2005 For Immediate Release 13 May 2005 AorTech International plc ("AorTech" or the "Company") Board Changes AorTech International plc (AIM:AOR), the biomaterials Intellectual Property andMaterial Manufacturing Company today announces changes to its Board as aconsequence of restructuring of the business. Laurie Rostron, Chairman, and Peter Gibson, Non-Executive Director of theCompany have stepped down and Jon Pither has assumed the role of Chairman. TheBoard also announces the appointment of Dr Stuart Rollason as a Non-ExecutiveDirector. The Board is of the view that the family of Elast-Eon(TM) polymer biomaterials isbeing successfully developed to the point where its potential is increasinglybeing recognised as the material of choice for an array of long-term, highfatigue, blood contacting medical device applications. Good progress has also been made with the internal development of highvalue-added platforms for Elast-Eon(TM), particularly with next generation breast implant and heart valve products. It is anticipated that opportunities for these markets will be exploited through licensing opportunities with its partners, or alternative means of investment. Jon Pither, who has considerable experience of managing such opportunities, hasbeen appointed to oversee the development of these initiatives, for the fullexploitation of these technology assets. It is intended that Union Investment Management Ltd (which has a relationshipwith one of the Company's shareholders) will also be engaged to assist the Boardwith this project. Commenting on the restructuring, Jon Pither, Chairman said: "Elast-Eon(TM) has reached a stage where large established companies in thebiomaterials market should find it attractive to commercialise the successfuldevelopment advances that have been achieved." For further information please contact: AorTech International plcFrank Maguire, Chief Executive 07766 543 649/ 00 1801 201 4336 Buchanan Communications 020 7466 5000Ben Willey, Lisa Baderoon, 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 Exchange