AorTech International PLC Settlement of Litigation (9287Y)
December 11 2017 - 2:51AM
UK Regulatory
TIDMAOR
RNS Number : 9287Y
AorTech International PLC
11 December 2017
AorTech International plc
("AorTech"or the "Company")
Settlement of Litigation
Further to its announcement on 20 November 2017, AorTech
International plc (AIM: AOR), the biomaterials and medical device
IP company, announces that the Foldax Defendants and the Company
have amicably resolved their dispute and the terms of settlement
have been incorporated into a confidential settlement
agreement.
Bill Brown Chairman of AorTech, commented: "I am pleased to
announce this settlement agreement which brings to an end the
ongoing dispute. We now look forward to focusing on developing
AorTech's IP assets."
Defined terms used in this announcement have the same meaning as
in the Company's announcement of 20 November 2017.
For further information contact:
AorTech International plc Tel: +44 (0)7730 718296
Bill Brown, Chairman
Stockdale Securities Limited Tel: +44 20 7601 6100
Tom Griffiths/El Hanan Lee
About AorTech:
AorTech has developed biostable, implantable polymers, including
Elast-Eon(TM) and ECSil(TM) the world's leading long-term
implantable co-polymers, now manufactured on their behalf by
Biomerics LLC in Utah, USA. With several million implants and seven
years of successful clinical use, AorTech polymers are being
developed and used in cardiology and urological applications,
including pacing leads, cardiac cannulae, stents and neuro
stimulation devices. Devices manufactured from AorTech polymers
have numerous US FDA PMA approvals, 510k's, CE Marks, Australian
TGA and Japanese Ministry of Health approvals.
Elast-Eon(TM) and ECSil(TM)'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. A
range of materials in a variety of application-specific
formulations for use in medical devices and components are
available.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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