AOR.L Regulatory News (AOR)

30 Oct 2006 07:02

Aortech International PLC30 October 2006 For Immediate Release 30 October 2006 AorTech International plc ("AorTech" or the "Company") Victorian Treasurer, Mr John Brumby, opens AorTech Biomaterials' new Research, Development and Synthesis Centre The Honourable John Brumby, MP, Treasurer, Minister for Innovation, Industry &Regional Development has opened AorTech's new Research, Development andSynthesis centre at Scoresby, Victoria, Australia. The Centre is based at the Victorian Government-backed Small TechnologiesCluster and includes an expanded polymer manufacturing facility, state of theart clean room operations and analytical and research laboratories. It allowsAorTech to draw together its synthesis, research, development, manufacturing andclean room activities into one state of the art operation. Mr Brumby said: "Victoria is set to become a significant exporter of new generation implantablemedical devices with the opening of this new research and development centre.AorTech's new centre will provide expert services for other biotech companiesand research and development in Victoria. "This company is the exclusive manufacturer of the premium grade of biostablepolymer known as Elast-Eon(TM) which was invented by the Commonwealth Scientificand Industrial Research Organisation (CSIRO) to address the need for a bettermaterial for use in long-term medical devices such as pacemakers, heart valves,stents and spinal discs. Approval has recently been granted by regulatory bodiesin the US and Europe for a long-term life-sustaining implantable device usingthe Elast-Eon(TM) polymer technology. First human use of the polymer occurred inAugust 2006 which is why AorTech Biomaterials is currently increasing itsproduction capacity to meet expected market demand." Mr Brumby said the Victorian Government had worked closely with AorTech to bringthe new facility to being. "The US market for implantable medical devices is estimated at $15 billion withan annual growth rate of around 11 per cent." he said. "Commercialisation of this Victorian-developed leading edge technology enablesAorTech to secure a prime position in a fast emerging multibillion exportmarket." Frank Maguire, AorTech's CEO, commented: "Our investment in the new facility positions AorTech as an export-focussedadvanced manufacturing centre of excellence driven by commercialisation of ourworld class medical polymers. "The facility will underpin AorTech's future commercial development and economicprosperity by providing room for growth as well as allowing AorTech to undertakeworld class research and development programs and to provide its customers withleading edge synthesis and manufacturing capabilities. It will also have astate-of-the-art small batch production capability, enabling it to readilytailor polymers to meet the needs of designers of next generation devices." For further information please contact: AorTech International plcFrank Maguire, Chief Executive Tel: + 1 801 201 4336 Hogarth Partnership Limited Tel: +44 20 7357 9477Andrew Jaques / Sarah Richardson Notes to editors: 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-Eon(TM) technology is the product of a decade of fundamentalresearch into biologically stable materials. Elast-Eon(TM) 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-Eon(TM) materials in a variety of application specificformulations and densities, for use in medical devices. This information is provided by RNS The company news service from the London Stock Exchange