XCeed appoints manufacturer
Friday, 11 June, 2004
Recently-listed XCeed Biotechnology (ASX:XBL) has announced that its subsidiary Polymerco will use Melbourne-based AorTech to manufacture its biodegradeable polyurethane. The product has applications in orthapaedics, wound repair, drug delivery and stents.
Aortech will stabilise and manufacture the biodegradeable polyurethane at its ISO certified Melbourne Australian Technology Centre. It currently manufactures biostable polyurethane Elast-Eon, used in medical devices.
In March, XCeed invested $5.1 million in Polymerco, taking a 50 per cent stake in the company. Polymerco was incorporated earlier this year to develop and commercialise CSIRO Molecular Science's biodegradable polymer technology.
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