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Share Name Share Symbol Market Type Share ISIN Share Description
Aortech International LSE:AOR London Ordinary Share GB0033360586 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 46.00p 7,194 08:00:00
Bid Price Offer Price High Price Low Price Open Price
44.00p 48.00p 46.00p 46.00p 46.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 0.54 -0.04 -0.79 6.8

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DateSubject
19/1/2019
08:20
Aortech Daily Update: Aortech International is listed in the Health Care Equipment & Services sector of the London Stock Exchange with ticker AOR. The last closing price for Aortech was 46p.
Aortech International has a 4 week average price of 41.50p and a 12 week average price of 41.50p.
The 1 year high share price is 99p while the 1 year low share price is currently 30.50p.
There are currently 14,686,608 shares in issue and the average daily traded volume is 26,476 shares. The market capitalisation of Aortech International is £6,755,839.68.
11/1/2019
19:11
bones: Good weekend all.Parting comment on the near 30% drop in the share price from 58p in mid-December to 42p today. This has been achieved on net selling volume of around 1.5% of this company's shares in total throughout the duration. In other words, it's all MM mark downs.Heaven knows what the price will do once the company comes out with some proper progress on their business and we see some volume from the chasing hordes.
09/1/2019
20:19
bones: To pass the time, I've been doing a bit of digging in Companies House on a few companies of interest to me (not just AOR). I found an intriguing development on AOR, albeit purely administrative: As of last week, the Company Secretary role (which is a legally important appointed officer role that requires disclosure at Companies House) changed at Aortech International plc and its subsidiaries. The new Company Secretary is now a lady called Kathryn Full. She has one other Company Secretary role disclosed at Companies House and that is and remains Co Sec (since 2010) for Vascular Flow Technologies Ltd ("VFT"), the company that AOR has appointed to do all of its work on the heart valve development following the fund raising in June 18. The previous Co Secretary was based at the AOR Surrey HQ which makes me speculate that they might close those offices (?) seeing as they seem to have no geographical purpose now that all the action is in Scotland (and the USA where John Ely, the non-exec director and heart valve expert for AOR resides, as does Biomerics LLC, AOR's contract polymer manufacturer). VFT is essentially an R&D company these days. It makes very little turnover yet, over the years, has burned through £20M if I read the accounts correctly, some of it financed from offshore investors. There was a $10m financing round in 2016 which cleared out some previous investor loans. Clearly though, the cutting edge work they are doing on blood flow computer simulation (from which AOR hope to benefit) has massive potential. VFT's private shareholder structure seems convoluted, not surprising I guess. The investors there must be impressed as they keep topping up to finance the progress. Anyway, my interest has been piqued by this change of Co Sec at AOR. It seems to be somehow significant that they have taken on the person from their R&D partner, VFT which is independent in all other respects, with its own customers. Perhaps the thinking was simply the need to have someone based in Scotland and that this person came highly recommended. Perhaps it was a requirement of Scottish Enterprise to have Scottish officers and offices? Maybe there is more to the relationship going forward between AOR and VFT? I am merely thinking and speculating aloud but think it is of interest, especially as I have a decent-sized personal interest in the quoted shares of AOR and information is not readily made available as the share price shoots all over the shop!
22/11/2018
14:09
cfb2: £2.6m in the bank and 11m shares issued give a price per share of 24p alone. Throw in the existing IP (including a couple this year) and they are only 6 months into a 2 year plan. I would describe your prediction of mid 20s by EoY to be unlikely. I have been reading through their interims again and trying to relate it to the 10% drop in the share price. I think their decision to redo their approach on the heart valve was "brave" but likely a sensible one given the background of their new team. AorTech had previously been touting the amount already spent and discarding that would not be taken lightly. Just using latest advances in computer simulated modeling are likely to overshadow previous research. Their goal is approval and my experience with medical device approval is that mistakes made at the start can easily lead to insurmountable or expensive redoing of trials at the end.
01/11/2018
12:09
the stigologist: The 12 month target in June 2018 was 400p So the share price needs to start rising exponentially rather than linearly to reach that target. I believe if they achieve some licencing progress on the Breast IP you should see the 400p price target expand to 800p+
05/9/2018
06:46
the stigologist: So he had 10% of 5.5m i.e. 550k Went to 2.98% of 14.6m i.e. 430k so sold 120k ish however this LATE notification is contrary to AIM rules so basically McDaid deliberately/accidentally failed to make adequate notification you can make your own inference but mine would be that if you're a big seller you'd want to do it quietly so as not to cause a buyer's strike tanking the share price as you sell down to ZERO my assumption would be McDaid was the seller who has been capping the share price rises and is probably at or close to ZERO now good we have got rid of such an overhang
23/8/2018
06:07
parsons4: Very positive statement coupled with recent stability in the share price suggests to me that we have reached a support level and the share price should now start to go ahead.
21/7/2018
08:22
coolhandfluke: Sorry I wasn't very lucid yesterday evening. I was referring to the share price. I felt the update was very positive and a great step forward and was disappointed the update wasn't reflected in the closing price.Hopeful now the share price will be onwards and upwards.
15/6/2018
22:49
bones: INTRODUCTION AorTech International plc holds patents, know-how and trade secrets relating to a family of bio-compatible materials. A large range of polymers has been developed within the Elast-Eon(TM) family with different mechanical properties, such as hardness and elasticity. 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, 510ks, CE Marks, Australian TGA and Japanese Ministry of Health approvals. COMPANY WEBSITE: hTTps://www.aortech.net/ BACKGROUND After several years of under-performance, containing more than its fair share of failed strategies and legal disputes with customers, partners and an ex-CEO (settled amicably in December 2017 for an undisclosed sum paid to AOR), Aortech is finally clear for take off! A new strategy for the company, incorporating the benefits of its long held, valuable IP assets, has finally been revealed (in May 2018); new investors have been rounded up to join the patient ones and top personnel have been recruited. Fresh money is in the bank ready to exploit the new frontiers in cardiovascular medical devices and cosmetic implants. SOME STATS Market capitalisation (June 18) = £6 MILLION Cash in bank (June 18) = £3 MILLION Invested in current proven technology to date = £60 MILLION (including £30 MILLION in heart valve R&D) STRATEGY Aortech is now seeking to maximise value from its IP portfolio by developing certain products while maintaining what the directors believe to be a low cost/risk business model. As part of this strategy, the company is entering into a development and manufacturing agreement with RUA Medical - click here hTTp://www.ruamedical.com - a medical textiles manufacturer, and a development contract with Vascular Flow Technologies - click here hTTp://vascular-flow.com - a medical device development company. If successfully developed and approved by the relevant regulatory authorities, the company proposes to employ a lean sales and marketing strategy for its products, a distribution model to provide access to hospital markets and OEM sales of devices to other medical device companies. Initial product pipeline is to be: 1. Cardiovascular and soft tissue patches 2. Large bore grafts 3. Synthetic heart valve Three new non-executive directors have been recruited, two of whom are from the highest echelons of the cardiovascular world! John Ely (NED - Heart Valve Expert) Geoffrey Berg (NED - Cardiovascular Expert) See this RNS and Offer document for all the details about these products and new directors: hTTps://uk.advfn.com/stock-market/london/aortech-AOR/share-news/AorTech-International-PLC-Conditional-Placing-and/77473499 hTTps://www.aortech.net/wp-content/uploads/2018/05/249297-Project-Amplify-Circular-WEB.pdf AORTECH IN THE PRESS Essential introduction here (Scottish Herald 7th July 2018): hTTp://www.heraldscotland.com/business_hq/16339604.heart-valve-pioneer-aortech-international-returns-to-its-scottish-roots/ Video Interview with John McKenna, AOR director (CTSNet.org 6th December 2018): hTTp://www.ctsnet.org/article/pioneers-cardiac-surgery-john-mckenna INTRO VIDEO ABOUT AORTECH'S HEART VALVE Aortech acquired the original IP from CSIRO in the early 2000's - click this link hTTps://csiropedia.csiro.au/elast-eon-biocompatible-polyurethane/. Now AOR is finally funded to complete stage one of the quest to commercialise the holy grail that is the synthetic heart valve. This video is the basic introduction to the technology (note the reference to Aortech in it). !YOUTUBEVIDEO:qfzXvuh2xxc: RNS UPDATE 19th JUNE 2018 Development Agreement signed with Vascular Flow Technologies Limited ("VFT") Excerpt: Bill Brown, Chairman of AorTech, said: "In partnering with the team at VFT, AorTech now has access to Europe's leading experts in the combined field of medical imaging, guided Finite Element Analysis and Computational Fluid Dynamics. Combining the design history with this ground breaking imaging analysis should much improve the quality of the product design, reliability and performance." Craig Dunlop, General Manager and Director of VFT, said: "The team at VFT has been very impressed with the quantity and quality of data that AorTech has been able to demonstrate to us. We are very excited to be a key partner in the development of the next generation of prosthetic heart valves which should represent not only a step change in performance, but dramatically reduce the cost to manufacture these life enhancing devices." RNS UPDATE 26th JUNE 2018 New Patent Issued Excerpt: AorTech is pleased to announce that the US Patent Office has recently granted Patent Number 9,994,668 entitled "BIOSTABLE POLYURETHANES". The invention relates to polyurethanes and processes for their preparation. The polyurethanes are biostable, creep resistant, acid resistant and abrasion resistant which makes them useful in the manufacture of biomaterials and medical devices, articles or implants, in particular, long term implantable medical devices in the fields of cardiology, orthopaedics, plastic surgery and gastroenterology. Bill Brown, Chairman of AorTech said: "We are delighted that this US Patent has been issued extending further AorTech's world class portfolio of biostable polymers for medical device use." RNS UPDATE 28th JUNE 2018 Development and Supply Agreement with RUA Medical Excerpt: AorTech has appointed RUA Medical as its development and manufacturing partner to bring the immediate opportunities from this platform technology to market. Bill Brown, Chairman of AorTech said: "In anticipation of entering into this agreement, the AorTech and RUA Medical teams have gone through a detailed project planning process. This process has confirmed to AorTech that RUA Medical is the ideal partner for this project and that its unique combination of R&D, project management, regulatory and manufacturing expertise should help us deliver the soft tissue pericardial patches and large bore grafts to market in a highly efficient manner." Caroline Stretton, Chief Executive Officer of RUA Medical said: "The team at RUA Medical is delighted to be partnering with AorTech on the development and supply of their transformational devices. Superior safety and performance, in conjunction with secure supply, will afford spectacular improvements to the quality of life of end users. RUA Medical also recognises the exciting future prospect of exploiting further medical device opportunities within AorTech's novel platform technology." RNS UPDATE 4th JULY 2018 New Patent Issued Excerpt: AorTech is pleased to announce that the Brazilian Patent Office has recently granted Patent Number PI 0711694-2 entitled Biostable Gels. The invention relates to biostable gels, the processes for their preparation and their use in the manufacture and repair of biomaterials and medical devices or implants, in particular soft tissue implants such as breast implants. Bill Brown, Chairman of AorTech said: "The issue of this patent further expands AorTech's patent portfolio, particularly in the area of breast implants. Brazil is one of the largest markets for breast enhancement outside of the USA and is therefore an important patent territory. The portfolio of IP relating to Breast Implants is not currently licensed by AorTech." RNS UPDATE 23rd AUGUST 2018 AGM Statement Excerpts: "On the heart valve project, technology transfer has been completed with Vascular Flow Technologies Limited ("VFT") which is now actively engaged with John Ely.....on design optimisation." "The textile-based products are also on track with RUA Medical, in association with our polymer manufacturing partner, Biomerics Inc., and have now identified the optimal version of Elast-Eon(TM) to provide the patches and grafts with the required properties." "The polymer licensing business is performing to plan and continues to meet the Board's expectations." "We are also delighted to have been informed that the US Patent and Trademark Office will issue US Patent Number 10,059,807 on a new AorTech patent entitled GELS further building on our family of biostable materials." Overall, we are delighted with how the business is progressing and look forward to the future with confidence." RNS UPDATE 22nd NOVEMBER 2018 Interim Results ”We have also made good progress in confirming both market need and interest in our products. At a recent European Cardiothoracic meeting of some 3,000 surgeons and industry players, we engaged with a number of parties, including key surgeons, large industry players and product distributors, and explained which products AorTech would be bringing to the market. Feedback was very positive and the market need was confirmed for both the valve and polymer coated textile products.” https://uk.advfn.com/stock-market/london/aortech-AOR/share-news/AorTech-International-PLC-Interim-Results/78740355 DIRECTOR EMI OPTIONS VEST WHEN SHARE PRICE REACHES 300p On page 46 of the Open Offer document (May 2018), the following is found: As regards options to be granted to any Director, such options will vest as to 20 per cent. after the expiry of 3 years from the date of grant, 30 per cent. on the receipt by the Company of a CE Mark for any of its products and 30 per cent. on the closing middle market quotation of the Ordinary Shares, as derived from AIM Appendix to the Daily Official List of the London Stock Exchange, being at least £3.00, being 10 times the Issue Price, for 10 consecutive days on which trading takes place on AIM. BROKER NOTE 400p INITIAL TARGET PRICE Stockdale Securities' report can be accessed via Research Tree but you have to sign up, albeit there is a free 7 day trial (with your payment details): hTTps://www.research-tree.com/companies/uk/medical-equipment-services/aortech-international/research/stockdale-securities/new-projects-to-drive-shareholder-value/ae347ba2-3cc8-47d7-8789-96d2eb7972f5 Excerpt: SIGNIFICANT SHAREHOLDERS ( > 3% ) AS AT 15th OCTOBER 2018 11.98% Walker Crips Stockbrokers (1,759,455) 8.86% Miton Asset Management (1,301,929) 5.99% Charles Stanley (879,664) 5.29% Interactive Investor (776,396) 5.17% Clive Titcomb and family interests (759,501) 4.73% Hargreaves Lansdown Asset Management (694,873) 4.37% Mr Gordon Wright (641,645) 3.77% Share Centre Investment Management (553,808) 3.45% Mr Bill Brown (506,649)
16/5/2018
10:26
the stigologist: #AOR AorTech hTtps://www.aortech.net/ share price : 44p shares o/s : 5.6m mkt cap : £2.4m balance sheet cash : $0.5m? (Dec 2017 RNS : $328k as of Nov 2017) annual cashflow : c.$0.2m? (H1 Interims : Net Cash from Op. $172k) high quality cashflow from IPR licensing/royalty business model optionality from potential licensing of breast implant/heart valve biocompatible materials potential for use of company as a RTO/shell vehicle ? "The tax losses within the accounts also makes AOR attractive to a prospective buyer, as with millions to play with this could well prove to tempting to a profit making organisation" "£23M will attract deal makers. @20% that's £4.6M Discount that by 50% TAX LOSS IS WORTH MORE THAN TODAYS MARKET CAP" chart looks like it's breaking out (note last breakout above 50 day MA in November 2017 preceded big December 2017 150%+ move) Limited shares in issue, very tightly held
30/1/2018
10:46
the stigologist: These are another set of notes I wrote after previous RNSes. Just FYI FWIW for any newbies getting up to speed. So the basics on this are that they developed this Elast-eon technology about 17 years ago. Failed to become a device manufacturer themselves. Licensed the materials tech unsuccessfully initially and on bad terms to much bigger players. Got into loads of litigation to try to protect their Intellectual Property etc. Finally seem to have drawn a line under previous litigation and found a licensing partner Biomerics who is delivering. Reckon that having learnt from previous experiences they can licence their tech successfully for some other devices e.g. Breast implants and Heart Valves. Their current valuation is totally out of sync with what even Private Start-ups are valued at (e.g. Edwards buying Harpoon a couple of weeks ago for $100-250m) which don't have the track record of successful clinical use or FDA approvals. AOR AorTech Share Price : 50p Market Cap : £2.8m AorTech has developed biostable, implantable polymers, including Elast-Eon™ and ECSil™ 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™ and ECSil™'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. Valuation comparitors :- Major licensee is Biomerics. Private Company. Recently spent $38m on a HQ building alone. hTtp://biomerics.com/elast-eon-bringing-quality-value-medical-device-project/ Edwards Lifesciences bought Harpoon Medical for $100-250m (December 6th 2017) hxxp://www.edwards.com/ns20171206 "The HARPOON system is designed to facilitate echo-guided repair of mitral valve regurgitation, by stabilizing the prolapsed mitral valve leaflet to restore proper coaptation and valve function" Xeltis achieved largest private equity funding round for a medical device in Europe of $52m in 2017 (November 15th 2017) hTtp://www.xeltis.com/news/xeltis-closes-e45-million-series-c-financing/ AorTech comments :- General licenses :- "Significant funding has been achieved by AorTech licencees in developing and commercialising their products with AorTech's Elast-Eon™ seen as critical to their success. In one instance, funds in excess of $100 million have been raised to achieve successful commercialisation." On their Heart Valve Project :- "We have previously announced a potential transaction with a new business established to commercialise the AorTech heart valve technology. Fund raising for the new project is continuing but is not yet finalised and any license will be dependent upon the new business being fully funded. The package of data and information that AorTech is able to deliver to the project is substantial. This ranges from specific manufacturing know how and trade secrets for the precise polymer best suited to a heart valve, detailed design files for a polymer valve with a stress/strain profile substantially less than the material mechanical properties, together with a fully documented manufacturing process that allows a clinical quality valve to be made on a repeatable basis. All of these processes have been developed over a number of years of trial and error and experimentation at considerable investment by AorTech."
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