REG - RUA Life Sciences - Distribution Agreement with Corcym

Rua Life SciencesAnnouncement

25/01/2023 07:00

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RNS Number : 7463N  RUA Life Sciences PLC  25 January 2023

 

  25 January 2023

RUA Life Sciences Plc

("RUA ", the "Company" or the "Group")

Distribution Agreement with Corcym

 

RUA Life Sciences plc, the holding company of a group of medical device
businesses focused on the exploitation of the patented long-term implantable
biostable polymer, Elast-Eon(TM), is pleased to announce that it has signed an
agreement with Corcym SRL ("Corcym"), a global medical device company focussed
on the structural heart area, to bring RUA's range of large bore vascular
grafts to market.

 

Corcym and RUA have signed a global distribution agreement that grants Corcym
the exclusive rights to commercialise RUA's large bore straight and aortic
root grafts for heart surgeons.  Corcym will leverage its sales team and
network already serving the needs of the surgeon, who will use the graft
products.

To provide Corcym with the necessary flexibility to maximise market
penetration, a novel partnership model has been agreed whereby rather than
agree specific price points by territory, the partnership ethos of the
agreement will see RUA and Corcym share the gross margin achieved on global
sales on a 50:50 basis.

Corcym is a global medical device company focused on serving the needs of
heart surgeons and their patients. Corcym's current product portfolio includes
a wide range of heart valves and heart repair products. Corcym has a
commercial presence servicing heart surgeons in over 100 countries.

RUA has a pipeline of vascular grafts in development for the repair of
diseased and damaged blood vessels, including the thoracic aorta. The total
global market size for the pipeline products is estimated by RUA to be around
$1 billion annually. These products include large bore straight and aortic
root grafts together with specialised products for aortic arch repair. The
regulatory strategies and plans for the pipeline products have been agreed and
RUA anticipates a number of regulatory approvals from 2025 through 2027,
allowing Corcym to commercialise the grafts.

 

Bill Brown, Chairman of RUA said: "The mutual benefits of this partnership
with Corcym are transformational for RUA. Not only does it validate our belief
in the product range but it is backed up with Corcym's capacity and
capabilities to make the graft range available to heart surgeons globally."

Christian Mazzi , CEO of Corcym added: "Corcym is excited to partner with an
innovative company like RUA to commercialise the aortic graft range.
Corcym's mission is to help cardiac surgeons treat patients better, today and
in the future, and RUA's aortic graft range will be an important addition to
the product portfolio we can offer Heart Surgeons worldwide."

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the UK version of the EU
Market Abuse Regulation (2014/596) which is part of UK law by virtue of the
European Union (Withdrawal) Act 2018, as amended and supplemented from time to
time.

 

For further information contact:

 

RUA Life Sciences

Bill Brown,
Chairman
  Tel: +44 (0)1294 317073

Caroline Stretton, Group Managing
Director
 

 

Cenkos Securities plc  (Nominated Adviser and Broker)
Tel: +44 (0)20 7397 8900

Giles Balleny / Max Gould (Corporate Finance)

Michael Johnson (Sales)

 

 

About RUA Life Sciences

The RUA Life Sciences group was created in April 2020 when RUA Life
Sciences Plc (formerly known as AorTech International Plc) acquired RUA
Medical Devices Limited to create a fully formed medical device
business. RUA Life Sciences is the holding company of the Group's four
trading businesses, each exploiting the Group's patented polymer technology.

About Corcym SRL

Corcym is a global, independent, medical device company entirely focused on
state-of-the-art surgical solutions to fight structural heart disease. Corcym
has a presence in more than 100 countries with approximately 850 employees and
ensures strong continuous support to patients, healthcare professionals and
healthcare systems worldwide. For more information, please
visit www.corcym.com (https://corcym.com/) .

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