AorTech International PLC Response to Media Comment (8954W)
20 November 2017 - 6:01PM
UK Regulatory
TIDMAOR
RNS Number : 8954W
AorTech International PLC
20 November 2017
AorTech International plc
("AorTech"or the "Company")
Response to Media comment
AorTech International plc (AIM: AOR), the biomaterials and
medical device IP company, notes the recent Media comment regarding
the Company's ongoing litigation and confirms that the following
joint motion was recently filed in the Utah Court by AorTech and
the Foldax Defendants (as defined below):
"Plaintiff AorTech International plc ("AorTech") and Defendants
Frank Maguire, Kenneth A. Charhut, Foldax Inc., and Folda LLC
(collectively, "the Foldax Defendants"), through counsel, hereby
provide notice that the parties have reached a settlement in
principle to resolve all claims in this case.
AorTech and the Foldax Defendants jointly move the Court to stay
all proceedings and deadlines in this case as the parties continue
these productive settlement negotiations. If these negotiations are
successful, the parties will file a stipulated motion to dismiss
with prejudice. If the parties are unable to successfully negotiate
a settlement, the parties will provide notice to the Court and ask
that the stay be lifted."
AorTech will make a further announcement in due course.
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
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