Surbiton, UK - Biomaterials group AorTech International plc has signed a non-exclusive licence with InnerPulse Inc. of Research Triangle Park, North Carolina, to use AorTech's biostable implantable silicone-urethane copolymer, Elast-Eon. The US group will use the material in implantable devices for managing cardiac rhythm (excluding cardiac pacemaker leads).
Privately owned InnerPulse develops novel pre-clinical stage implantable cardiac defibrillators and cardiac pacemakers. The company chose Elast-Eon as the optimal coating material for the PICDTM, its first-generation implantable defibrillator device, said a statement from Aortech.
InnerPulse will pay fees to AorTech, which said "Revenues will be modest in the short term, but are expected to increase significantly," as testing is completed and the PICDTM product is commercialised globally.
InnerPulse plans to incorporate Elast-Eon into its products during 2008. Biostable Elast-Eon is currently being assessed by other companies for uses including: morbid obesity, neurostimulation, diabetes, women's health and cardiovascular diseases.
"Elast-Eon's versatility is being demonstrated by the increasingly wide range of applications in which it is being qualified. We anticipate further licences being signed in due course which will create a steadily growing, long term revenue stream for the Company," said Frank Maguire, ceo of AorTech, in the company statement.
Aortech, listed on the Alternate Investment Market in London, owns Aortech Biomaterials, a technology and manufacturing centre for Elast-Eon, based in Melbourne, Australia. The Melbourne unit was formed to commercialise the medical-grade Elast-Eon materials developed at the Commonwealth Scientific and Industrial Research Organisation (CSIRO).