AorTech International PLC – Final Results

AorTech International PLC – Final Results

AorTech International plc (AIM: AOR), the biomaterials IP and medical device development company, announces its audited final results for the year ended 31 March 2019.

 

Highlights:

 

·      Transformational year: new Board in place executing an exciting, funded business plan

 

·      Polymer IP business unit performing strongly: license fee and royalty income grew stongly increasing by 15% to £463k

 

·      Year end cash balance: increased to £2,412k (2018: £422k)

 

·   Medical device development business established: key partnership agreements signed for development of polymeric heart valves, vascular grafts and soft tissue patches

 

·   Good progress made on R&D projects: design phase nearing completion and progression to prototype manufacture in current period

 

·      Overheads remain tightly controlled: all R&D costs charged to profit

 

·      Key milestones: expect to reach a number of key milestones in coming year

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