Scottish Enterprise is backing a Dundee medical device firm’s work on a pioneering project to develop a new heart valve.
The economic development agency has provided grant aid to Aortech to help develop a new manufacturing method for the valve which may lead to the creation of “valuable new intellectual property” for the company.
Chairman Bill Brown said commercial sensitivities meant the company is unable to disclose any further details regarding the method of manufacture, but it has now committed to the design and manufacture of the equipment on which proof of concept prototype valves will be produced.
“This is a significant commitment from AorTech as part of its ongoing research and development plans. AorTech is delighted to report that the costs to be incurred are being partly financed through it having secured grant aid from Scottish Enterprise,” he said.
“This investment demonstrates the growing confidence in both the design of, and the novel manufacturing process for, the polymeric heart valve and we wish to thank Scottish Enterprise for their help and assistance towards this project. Through the design phase, our team has significantly improved valve performance and we are now targeting step changes in consistency and quality."
In November, Lenzie-born chairman Brown said “quite incredible” progress was being made as it announced it cut first half losses. The company said it was continuing to make improvements to its Elast-Eon heart valve and a commitment to start manufacturing was expected soon.
The company, which is also developing specialist medical textiles, saw a 30% fall in losses to £158,000. Revenues increased by 27 per cent to £299,000. It ended the period with £2.3 million in cash, down slightly from the £2.4 million it had in the bank on 31 March.
The company, which started life in Lanarkshire, recently recruited Dr Sarah Grant as project manager for new product development in a post funded by Scottish Enterprise.
