1 Apr 2020 13:36
1 April 2020
AorTech International plc
("AorTech" or the "Company")
Director's Dealing
Further to its announcements made on 11, 25, 30 and 31 March 2020, AorTech (AIM: AOR), the licensor of the world's leading long-term implantable biostable polymer (Elast-EonTM) and developer of medical devices utilising the key properties of Elast-EonTM, confirms that, following completion of the acquisition of RUA Medical Devices Limited earlier today and the issue and allotment of the 1,500,000 Consideration Shares to David Richmond, Group Chief Executive Officer of AorTech, his shareholding has increased to 1,533,334 Ordinary Shares, representing 9.47 per cent of the issued share capital of the Company.
Defined terms used in this announcement have the same meaning as in the Company's circular dated 11 March 2020.
For further information contact:
AorTech International plc Tel: +44 (0)7730 718296
Bill Brown, Chairman
Shore Capital Tel: +44 (0)20 7408 4080
Tom Griffiths/David Coaten
About AorTech
AorTech has developed biostable, implantable polymers, including Elast-Eon™ and ECSil™, now manufactured on its behalf by Biomerics LLC in Utah, USA. Elast-Eon™ and ECSil™'s biostability is comparable to silicone while exhibiting excellent mechanical, blood contacting and flex-fatigue properties. These polymers can be processed using conventional thermoplastic extrusion and moulding techniques. With over 6 million implants and over 10 years of successful clinical use, AorTech polymers are proven in long term life enabling applications.
In addition to continuing to exploit AorTech's Intellectual Property related to the world class biomaterial - Elast-Eon™, AorTech is now incorporating this material into a number of medical devices of our own design. Elast-Eon™ has first class long term blood contacting properties and, as a result, all of the initial products being developed are for the cardio vascular field. Each device is being designed to have improved clinical outcomes over current device technology, eliminating the use of animal sourced material whilst allowing procedures to remain the same, therefore avoiding having to retrain surgeons in new ways of operating.