Directorate Change

RUA Life Sciences PLC

29 January 2024

 

29 January 2024

RUA Life Sciences Plc

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

Directorate Change

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 that with immediate effect Caroline Stretton, Group Managing Director, has resigned as a director of the Company and is leaving her role as Group Managing Director to pursue other business opportunities.

The executive directors will continue to manage the Company supported by the non-executive directors.  The Board is considering the appropriate longer term management structure of the Company and further announcements will be made in due course, as appropriate.

Bill Brown, Chairman of RUA, said: "The Board of RUA thanks Caroline for her hard work over the last year and wishes her well for the future. RUA is pursuing a number of opportunities to develop the business further and these will play a part in the future shape of the senior leadership team.  Current trading remains in line with the Board's expectations."

For further information contact:

RUA Life Sciences Bill Brown, Executive Chairman Lachlan Smith, Chief Financial Officer	Tel: [phone]
Cavendish Capital Markets Limited                                (Nominated Adviser and Broker) Giles Balleny/Dan Hodkinson (Corporate Finance) Charlie Combe (Broking) Michael Johnson (Sales)	Tel: [phone]

 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-EonTM 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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