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AorTech seals first major supply deal for Elast-Eon parts

This article was originally published in Clinica

Executive Summary

AorTech International, the AIM-listed developer of biostable polymers for medical device applications, has secured its first large-scale licence and supply agreement for medical device components made from its silicone-urethane co-polymer Elast-Eon. The unnamed customer will use the components in its heart-assist device. In return, AorTech will receive upfront and volume-related payments, as well as provisions for polymer and component sales. Shipments of the Elast-Eon components are expected to begin in the first quarter of 2009. The UK-based company said these supply agreements for Elast-Eon-made components have significantly higher revenue potential than those for the material only. Industry consensus estimates that the worldwide market for heart-assist devices could reach $8-10bn in the next 10 years.

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