REG - RUA Life Sciences - New Material Project Win

Rua Life SciencesAnnouncement

24/07/2024 10:00

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RNS Number : 6511X  RUA Life Sciences PLC  24 July 2024

24 July 2024

 

RUA Life Sciences Plc

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

 

New Material Project Win

 

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 a new contract win
within Contract Manufacture business unit.

RUA has received a purchase order from an existing customer to undertake a
short turnaround textile processing project. The project will be delivered to
the customer over the next four months with a total contract value of over
£400,000. On delivery of the project, there is the potential for conversion
to a longer term supply contract for the processed textile material.

 

 

Bill Brown, CEO of RUA Life Sciences, stated: "Being awarded this line of
business from a major medical company is a testament to the quality of product
provided by RUA and the supporting quality management system that provides our
customers with the confidence to place critical business with RUA."

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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