REG - RUA Life Sciences - New Supply Agreement

Rua Life SciencesAnnouncement

29/01/2025 07:00

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RNS Number : 0092V  RUA Life Sciences PLC  29 January 2025

29 January 2025

 

RUA Life Sciences Plc

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

 

New Supply Agreement

 

RUA Life Sciences (AIM: RUA), the holding company of a group of medical
device businesses focused on the exploitation of the world's leading long-term
implantable biostable polymer (Elast-Eon™), announces supply agreement
within its Medical Device and Components business unit with initial annual
value of over £500,000.

Further to the textile processing project announced on 24 July last year, RUA
has now entered a multi-year supply contract with the global customer. The
agreement covers two product lines, unit volumes and unit pricing. The revenue
expected during the current calendar year is anticipated to grow over time
with a potential value over a five-year period of £3.3 million. This new
contract represents a six-fold increase on the level of business undertaken
for the customer prior to commencing work on the project.

Bill Brown, CEO of RUA Life Sciences, stated: "The RUA Quality, R&D and
Production teams worked closely with our global customer to exceed their
expectations during the project phase which resulted with this long term
partnership."

The information communicated in this announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU) No.
596/2014.

 

For further information contact:

 

 

 RUA Life Sciences

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

 Lachlan Smith, CFO                                                    Tel: +44 (0)1294 317073

 Cavendish Capital Markets                                             Tel: +44 (0)20 7220 0500
 Limited

 (Nominated Adviser and Broker)

 Giles Balleny/Dan Hodkinson (Corporate Finance)

 Charlie Combe (Broking)

 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.

 

Our vision is to improve the lives of millions of patients by enabling medical
devices with Elast-Eon(TM), the world's leading long-term implantable
polyurethane. Whether it is licensing Elast-Eon(TM), manufacturing a device or
component, or developing next generation medical devices, a RUA Life
Sciences business is pursuing our vision.

 

Elast-Eon™'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. With over 8 million implants and 15 years of successful
clinical use, RUA's polymers are proven in long-term life enabling
applications.

 

The Group's four business units are:

 

 RUA Contract Manufacture:  End-to-end contract developer and manufacturer of medical devices and
                            implantable fabric specialist.

 RUA Biomaterials:          Licensor of Elast-Eon(TM) polymers to the medical device industry.

 RUA Vascular:              Commercialisation of open surgical vascular grafts and patches

 RUA Structural Heart:      Development of polymeric leaflet systems for heart valves.

 

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