AORTECH International, the formerly Scotlandbased medical technology group, yesterday said it had signed an exclusive deal to supply and license its biomaterial to Avalon Laboratories of the US. Financial terms of the deal were not disclosed. AorTech, which once employed 200 staff in Bellshill but closed its Lanarkshire office at the end of 2004, said the licence contains provisions forAvalon to make minimum bulk purchases of its Elast-Eon polymer each year. Avalon Laboratories is a maker of cardiopulmonary vascular devices. AorTech still retains a significant Scottish shareholder base, but the company's main operations are in Melbourne, Australia, where it has its Elast-Eon manufacturing operation. Shares in the company yesterday closed up 4.2per cent, or 18p, at 445.5p.
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