AorTech Signs License Agreement With Major US Medical Device Partner

LANARKSHIRE, U.K., July 10, 2003 (PRIMEZONE) -- AorTech International plc ("AorTech") announces the signing of a license and supply agreement for its proprietary silicone-polyurethane co-polymer technology with a major US supplier of medical devices. The specific financial terms are confidential, but the agreement is exclusive for the life of the corresponding patents and restricted to certain cardiovascular applications. AorTech expects income from up-front license fees, milestone payments, royalties and material supplies and anticipates that the partnership will lead to co-development work in the future.

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