New Material Project Win

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 Lachlan Smith, CFO	Tel: [phone] 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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